Black Friday falls on 27 November, and if you are already drawing up a list to take advantage of the campaigns and promotions associated with the date, there are several precautions you should take.

“With so many offers, it is difficult to assess whether we are really getting a good deal,” reads the financial literacy portal EI, which has compiled seven tips that can “help you decide between a genuine Black Friday promotion and an expensive, unnecessary purchase.”

1. Monitor prices in advance

If you know which product you want to buy during Black Friday, start tracking its price at least one month beforehand. Check whether the price fluctuates and decide whether it is truly worth buying. Many of the items you will find discounted on the day will, at other times of the year, carry lower prices.

2. Do not buy on impulse

Draw up a list of what you actually need and set a budget. Walking into a shop or visiting a website during Black Friday is an invitation to spend. Do not let brands get inside your head.

3. Be suspicious of very low prices

Some products appear at unusually low prices during Black Friday. Treat these with caution. They may be refurbished, display, or slightly defective items — check whether the retailer discloses this. In any case, a discounted item should carry the same warranty as one sold at full price.

4. Read the fine print

Before buying a product, find out about the retailer’s exchange and returns policy. Physical stores are not legally required to accept returns or exchanges of non-defective goods, although many traders do so as a courtesy or to retain customers. Think carefully before buying a clothing item on Black Friday, or measure your living room to make sure the television will fit on the wall.

Although not obliged to do so, retailers typically allow between 15 and 30 days for exchanges or returns. The product must be in the same condition as when it was purchased. Retailers also apply other specific conditions to their exchange policies, so read the fine print before you buy — and always keep your proof of purchase.

5. Watch out for discontinued products

At this time of year, brands are already preparing for Christmas sales and use Black Friday as an opportunity to clear products that have performed poorly or are about to be discontinued. Pay extra attention to everything you buy, particularly technology items and household appliances.

6. Take care with online shopping

Black Friday is one of the busiest online shopping days of the year. As transaction volumes rise, so do incidents of fraud. Criminals use fake emails and false advertisements on social media or Google searches to attract consumers with the promise of large discounts. Many shoppers are lured to counterfeit websites where they unwittingly hand over personal information and credit card details, which are then misused. If you plan to shop online, avoid entering personal data on public Wi-Fi networks or responding to emails from unknown or suspicious sources.

Be wary of websites that display no physical address, contact details, or seller tax identification number, contain spelling errors, or accept payment by bank transfer only. Wherever possible, pay using a virtual or temporary card, which limits the damage if your card details are copied.

7. Calculate the total cost of the purchase

If you have already decided to make an online purchase, pay close attention to the total order cost. Most retailers charge shipping fees, which vary according to the size and weight of the items ordered. These charges can bring the total cost of a purchase very close to — or even above — the original price of the item.

Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=559881