The cost of living crisis has only amplified the significance of Black Friday in the UK. According to Mintel, more than half of shoppers now depend on discounts to manage their finances. And Black Friday is the ultimate discount event, eclipsing Boxing Day and January sales as the year’s premier shopping spree, with sales up 7.3% year-on-year.
In 2023, UK shoppers spent an estimated £13.3 billion during Black Friday in a bid to save money. But therein lies the irony: how much are you really saving if you’re buying things you don’t truly need? For retailers, the chaotic rush to snag a deal is a dream come true — and they know how to play the game better than most shoppers.
To outsmart the system and make the most of Black Friday, preparation is key. Follow these practical tips and psychological strategies to ensure you’re getting genuine bargains — and not just a pile of regret.
1. Make a list and commit to it
Black Friday is the perfect opportunity to snag deals on items you’ve already been planning to buy, but the key word here is planning. A 50% discount on something you don’t actually need or want isn’t a saving — it’s a waste of money.
How to stay focused:
- Decide in advance what you’re looking for, whether it’s a kitchen gadget, a smartphone for a loved one, or a new vacuum cleaner.
- Research specific products beforehand by reading reviews and comparing specifications.
- Write down exactly what you want, and avoid straying into impulse-buy territory. This will keep you grounded and help prevent feelings of buyer’s remorse.
2. Set a budget
Black Friday deals can feel like a feeding frenzy, but rushing into purchases without doing your homework can lead to disappointment. Make sure you’re informed before the big day.
- Track Prices in Advance: Use tools like CamelCamelCamel, PriceRunner, or Honey to monitor price trends. Retailers often inflate prices before Black Friday to make discounts look better than they are.
- Compare Across Stores: Don’t assume the first “deal” you see is the best. Many retailers price-match competitors, so shop around to confirm you’re truly getting a bargain.
3. Check prices in advance
Retailers are known to inflate prices just before Black Friday to make discounts look better than they are.
- Use price comparison tools like PriceRunner, Google Shopping, or Idealo to see how prices vary across retailers.
- Track Prices Over Time: Websites like CamelCamelCamel (for Amazon) and Alertr let you check the price history of items, so you can spot inflated discounts.
4. Set price alerts
Now that you know the true value of the items on your list, set up alerts to be notified when prices drop to your target.
- Tools like PriceRunner and CamelCamelCamel allow you to create custom alerts.
5. Time your purchases
- Don’t Buy Too Early: Retailers often start Black Friday promotions in October, but the best deals tend to appear closer to the big day. Avoid being lured in by early banners and hype.
- Shop Smart on the Day: Dynamic pricing means deals may appear and disappear quickly. Be ready to act, but don’t panic.
6. Register and follow brands
Create Accounts Now: Avoid wasting time creating retailer accounts during the rush. Signing up early also lets you snag welcome discounts or early access codes.Follow on Social Media: Brands often post exclusive deals or early-bird discounts on platforms like Instagram and TikTok.
7. Consider memberships
Some retailers offer exclusive discounts for members. While memberships may come with a fee, they can pay for themselves during sales events.
- Amazon Prime: Prime members often get access to invite-only deals.
- AO’s Five Star Membership: For £39.99/year, members gain exclusive offers and extended return policies.
- Costco Membership: Offers access to exceptional deals, especially on tech and appliances, for £15/year.
8. Stay calm amid the chaos
- Black Friday is designed to create urgency and a fear of missing out (FOMO). Remember, this frenzy benefits the retailers, not you.
- Pause Before You Buy: If you feel pressured, step back and reassess. A bargain isn’t worth it if you’ll regret it later.
- Beware of Manipulation: Retailers use dynamic pricing, countdown timers, and “limited stock” warnings to make you act impulsively.
9. Avoid addition to deals
The thrill of finding a deal can sometimes outweigh the joy of owning the item.
- Filter Retail Emails: Funnel marketing emails into a separate folder or use a secondary email account to reduce temptation.
- Ask Yourself: “Will I still want this in a week?” If the answer is no, skip it.
10. Look beyond the price
Don’t let discounts blind you to other important factors.
- Check Warranties and Returns: Ensure you understand return policies and warranty terms before purchasing.
- Review Details: Verify compatibility, dimensions, and other specs to avoid surprises.
Final Thoughts: Shop Smart, Not Fast
Black Friday can be a fantastic opportunity to save on things you truly need or want — but only if you approach it with a plan. By setting a budget, researching prices, and staying calm, you can snag genuine bargains without falling victim to marketing gimmicks.
Remember, the best way to “win” Black Friday is to shop with intention, not emotion. Happy hunting!