With Black Friday sales expected to rise by 30% this year, Capitec Bank is encouraging consumers to rethink ill-informed swipes and see Black Friday for what it is – an opportunity for retailers to drive sales.
Don’t be fooled into parting with your hard-earned cash for ‘fillers’ – those sneaky, slightly-discounted items that tempt credit cards just because they’re on sale. Rather approach Black Friday with eyes wide open, some solid research and a well thought through plan.
Francois Viviers, Executive of Marketing and Communications at Capitec, elaborates, “Black Friday can easily lure you into buying things you don’t need and haven’t budgeted for. Many sale items are also not significantly discounted to justify the hype. Avoid being a victim of Black Friday by drawing up a plan and only buying items you’ve been saving towards or have needed for a while. Be sure to also compare the regular price of the item with the discounted one to check that you’re really getting a bargain. If you need to take out credit to make a purchase ask yourself if the item will truly help you to live better, such as a new computer to earn extra income, and if the value you get from the purchase will outlast the loan repayment period.”
3 Black Friday insights.
On Black Friday, retailers have so-called door busters – those are the big-discount deals being advertised to get you into the shop or on their website – but the discounts on the majority of the products are much smaller.