The Motley Fool
My Wallet Hero

Black Friday deals: what to AVOID

It’s nearly that time of year again, when the Black Friday deals indicate the start of a Christmas shopping frenzy. With the second national lockdown about to take effect, it’s likely that this year we’ll be headed online to find a bargain.

But don’t let that throw you. If you are looking to secure yourself a Black Friday deal, read on to find out what to avoid – and how to shop like a pro.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

What to think about when shopping on Black Friday

If your inbox is anything like mine, as we approach Black Friday on 27 November 2020, it will be filling up with emails from retailers promising big savings. But that’s not to say that you will actually be bagging a bargain just because it’s Black Friday.

For many of us, technology is an area where we think we can save ourselves the most money. But these tips also apply to other items such as fashion and homeware. Here are a few things to think about when looking for a deal on Black Friday.

Be wary of unknown brands

When it comes to TVs, there is a reason why brands like Sony and Samsung are household names. If there is a brand you have not heard of, do some research and check some reviews. You may think you are getting a bargain, but you may end up with an inferior product in the end.

Don’t focus on the saving

Retailers will try to lure you in with promises of big discounts. But before you make your purchase, check the prices of the product over the last six months using apps like PriceRunner or PriceSpy. Here you will be able to see whether it’s the lowest price the product has been available for, and whether it is a decent discount.

Look at more than one retailer

If you are set on a specific product, then check out the deals available across multiple retailers. This will help you to gauge what sort of price is a good one. And it will also give you a backup if your first choice retailer sells out quickly.

Remember tech life cycles

What you may find on Black Friday is big discounts on tech that manufacturers want to shift before they release a new model. It may well be that the spec of the current model is good enough for you. If that is the case, you could secure yourself a bargain.

But try to compare it with what you know about the newer model and think about whether you will regret the purchase in 12 months’ time.

How to shop like a pro

It’s not just about the deals themselves on Black Friday. There are some other things to think about in order to make sure that you are genuinely making a saving and protecting yourself at the same time.

Use a credit card

If you purchase an item using a credit card, you can benefit from the protection of section 75 of the Consumer Credit Act. This means that your credit card provider is jointly liable for any breach of contract or misrepresentation by the retailer or trader.

Essentially, this means you are able to claim a refund through your card provider if the retailer goes bust, or it doesn’t respond to your requests for a refund.

Obviously, only purchase what you can afford with a credit card. And unless you have a 0% purchases deal, try to pay your balance off in full when your monthly statement comes through in order to avoid incurring any interest charges.

Earn yourself some cashback

Who says you can’t earn a little money when spending a little money? If you are thinking of making a big purchase in the Black Friday sales, maybe consider getting yourself a cashback credit card.

That way, not only do you make a saving on the item you want, but you can also earn yourself a little extra money.

Factor in delivery costs

It can be very easy to get carried away with the possible bargains you can get. But if you end up spending a large amount on delivery, you may not have actually secured a great deal.

Do some research beforehand to see what different retailers delivery costs are. Then you can use those figures to compare and see where you will actually make the biggest saving.

“This Stock Could Be Like Buying Amazon in 1997”

I'm sure you'll agree that's quite the statement from Motley Fool Co-Founder Tom Gardner.

But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.

What's more, we firmly believe there's still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.

And right now, we're giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.

Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!

Our 6 'Best Buys Now' Shares

The renowned analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.

So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we're offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our 'no quibbles' 30-day subscription fee refund guarantee.

Simply enter your email address below to discover how you can take advantage of this.

I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.