- Black Friday remains a popular shopping event in South Africa, but shoppers are advised to budget carefully.
- With many South Africans paid after Black Friday, consumers are urged to avoid impulse buys and prioritize truly discounted items.
- Planning spending wisely and splitting combo deals with others can help shoppers take advantage of discounts without overspending.
Black Friday! These are the words on everyone’s lips. Consumers are on th prowl while advertisers are licking their lips at the prospect of increased customer spend and increased revenue.
While the Black Friday hype has slightly faded away in recent years it is still a period when cash-strapped consumers go out in search of bargains. This year’s Black Friday is rather very awkward.
It is before the 25th, the date a lot of people get paid. This does not by any means suggest the stores will be empty. Those who get paid on the 15th will probably be in a good position to take advantage of the specials. Those with lots of money in their reserves will also go out in search of the bargains.
1. Beware! Deals all month long
It must be noted, though, that SA retailers are very smart. As we have seen in the past, most shops will not have the Black Friday deals only on Friday the 22nd, but will opt for a Black Friday week, in all likelihood from Friday 22 November until Sunday 1 December. In fact, there are shops with Black Friday specials already, an indication that in the coming years the month of November will become Black Friday Month, this as shops seek to maximise their profits.
This is a good marketing gimmick and is helping a lot of businesses. However, does it really benefit the consumers, particularly the needy, or is it a question of the rich getting more for less.
2. Be wise, prioritise
As we venture into the end-of-year festivities, starting with Black Friday, our money spend will be elevated. This will continue into January and possibly February.
People will act irrationally just to be in with the mad rush. The fact is money is not always available, especially in these tough economic conditions. If your salary is not enough to carry you through the month that will not change because it is November or December.
3. Plan budget properly
It is a known fact that millions of people in this country run out of money in less than 10 days after getting paid. It is important to plan your budget properly so you are not faced with regret. Do everything within your means. Your monthly grocery budget must not change because of Black Friday.
4. Ask yourself: “Is this really a good deal?”
Maximise your budget by identifying items that have been really marked down. Most stores sell combos, forcing people to spend on items they do not really need. In such cases it is imperative to get someone who is willing to contribute an equal amount of money to buy the combos so that you can still get all your items and more for less.
