Black Friday – Is it really worth it?

Black Friday – Is it really worth it?

As I write this blog post, hundreds of thousands of orders are being completed online, drawn by the appeal of super savings for Black Friday. Within this blog post we explore Black Friday in more detail and consider is it really worth it?

Despite Black Friday being historically more US orientated, the rise of big retailers like Amazon have seen it become incredibly popular with Brits planning to part with £5.6b in the Black Friday and Cyber Monday sales taking place over the next 4 days. Just a quick google search for “Black Friday” is all that’s needed to see that every major retailer is competing to try and see it either make or break their sales quotas.

The term Black Friday is actually pretty old, first used in 1952 to represent the start of America’s shopping season. Typically with Thanksgiving taking place on a Thursday, and many taking the following day off, retailers were quick to capitalise but offering attractive deals to increase footfall. Today, Black Friday is considered to be the busiest shopping day of the calendar year in the US since 2005.

Whilst within certain locations Black Friday has very much been an institution it has really risen in popularity over the last few decade with brick and mortar retailers now competition with online counterparts.

But is it really worth it?

Well that all depends on whether its something you need or want. If you really need something then yes, its a really great opportunity to get a great deal. If you want something however, you are going to be more likely to be sucked in with one of the many tricks that retailers use such as:

Scarcity

Slogans like “stocks running fast”, “only 2 more left” and “whilst stocks last” are all proven ways to prime decision making in the favour of the retailer. That said, whilst the prices will go up in the days after Cyber Monday, the closer you get to Christmas Day the prices will go back down and if you’ve got Amazon Prime is there really anything lost?

Limited Offers

You tend to find that more brick and mortar retailers will offer crazy deals on large electronic items purely to get people through the door. By doing so they then have the opportunity to upset to you other add-ons or complementary products.

Clearing Out Old Stock

Lastly you’ll find that the deals are great, but they aren’t always the latest models. For most people that’s fine but if you’re a techie like the majority of Quo Money employees, after a few month’s you’ll have itchy fingers (thumbs) and want to upgrade.

Don’t get us wrong, we’re not saying don’t part with your cold hard cash, but just ask yourself do you really need it? If not, why not wait till you really do, and when you do you’ll notice that the price isn’t far off (or even cheaper) than what’s being offered online this weekend! Lets be honest, despite it being 50% off, who can honestly say that they really want this…

Happy shopping and wishing you all a lovely weekend!