Shop for only what you need, do your homework and do not fall for scams are among the words of wisdom from South African experts ahead of Black Friday.
“Track prices so you know the real bargains. On social media we are already seeing reports of stores that have manipulated prices to make them look like specials. Be careful. If you have not been tracking the price, it may not be a bargain.”“Look out for specials that are not really specials, where a shop may advertise a very cheap item but have one or two in stock because legally they only need one or two in stock.
Mancosa academics said South Africa's Black Friday specials are not as significant as the ones offered in other countries. “For example, many retailers sell an item for R1,400 with a sign saying the price has been reduced by 30%, so the original price was R2,000. However, if the consumer were to track the price of the same item throughout the year, they would find the original price in June or July was R1,400. Statistics show retailers often inflate the prices of products in the months leading up to Black Friday to give consumers a false sense of savings.
“South Africa is in a very different economic situation than previous years. Unemployment is rising and the purchasing power of the rand is falling. Consumers are trying to save wherever they can to make ends meet at the end of the month. As a result, I believe Black Friday will be more muted this year as South Africans are looking very sceptically at the savings offered by retailers and are aware of their tactics,” she said.
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