It’s that time of year again, the all American event that we love to hate - Black Friday (Saturday, Sunday, Monday…… who knows when it starts & ends now?!)
While having a little Google around for some interesting stats to share I have managed found some encouraging reading. It seems in the UK at least, we are starting to fall out of love with this crazy show of over consumerism with only half of consumers stating that they are interested in Black Friday deals (pwc.com). Of those spending less this year, 29% claim that the deals aren’t exciting and 20% believe that deals aren’t genuine (pwc.com).
BUT only 8% of us say we will avoid Black Friday offers entirely. With so many ‘deals’ out there, how can we be sure we still feel good come Cyber Monday?
Shhhhh don’t tell anyone I told you this…….
After working for 15 years in mainstream retail I know every trick in the retail book for getting you to part with your hard earned cash.
To good to miss offers are often achieved through not entirely honest methods….
Retailers often price position at an inflated retail price in a small handful of stores to allow a false reduction to be shown. All you see is that shiny 50% off sign. To avoid being caught in this trap plan your purchases and know the REAL value to you. It’s not about how much % you can allegedly save, it’s about what the price is now and if you feel it is value for money.
Charging producers to run offers:
Large, powerful retailers often force their suppliers to sell to them at much lower prices at promotional times of the year. Suppliers can’t say no as they are threatened with being de-listed and therefore end up selling to these retail giants at a loss. Losses for factory bosses equal unfair wages & poor working conditions for the people producing your shiny Black Friday bargains…. Now for you as a consumer this is a really tricky one to spot. The only way you can avoid fueling this fire is by doing your research and shopping with approved ethical retailers. Check out The Good Shopping Guide for a list of approved brands across loads of categories.
Reducing product quality:
Retailers will often ‘de-spec’ a product, reducing quality & number of costly elements in order to hit a discounted, value price point. This de-specing may not be immediately obvious on the internet page. Again do your research & focus on the value of the product to you before you leap in.
This all said, not every deal is a bad deal. Retailers also achieve discounts through bulk buying, backing certain lines & achieving cost savings, taking hits on profit margins in order to sell more volume and running loss leaders in order to drive footfall to their stores.
So when you are shopping for gifts this Black Friday my advice is to shop thoughtfully, shop ethically & do your research.
Frankly Black & White Everyday
Frankly was born out of a desire to move away from this constant cat & mouse trickery of the current retail landscape.
At Frankly we promise that:
- We will not trick you or pressure you to spend your money
- We will always be kind to our suppliers, we will never expect them to shoulder the burden of any of our promotions
- We will only work with brands that are fair to people & planet
Check out frankly.store for some feel good gifting this Black Friday!