'Not every Black Friday deal is as good as it seems': Sarah Coles
The good news is that 15 years of Black Fridays in the UK have taught us that not every deal is as good as it seems. However, increasingly, that’s not the only risk we need to watch for during the sales frenzy.
Retailer tricks
Offering a worse deal than other times of the year


We can get carried away with something marked as a bargain during a big sale, but just because the price has been cut, it doesn’t mean it’s unbeatable. Last year, Which? released research, where it tracked the price of 208 items beyond Black Friday. Only 2% of them were at their cheapest on the day itself.
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Hide AdIt’s impossible to guess what will happen to the price in future, but you can use comparison services to look at price histories. For Amazon, the camel camel camel website will show you previous selling prices, while for other sites you can use PriceSpy. If you decide it’s not cheap enough on the day, you can set up an alert for when it hits a price you’re prepared to pay.
Selling last season’s stock
One common tactic by the retailers is to use the sale to shift old stock. If that sort of thing doesn’t bother you, then you can cash in, but if you want the latest model, it’s worth checking what’s actually on offer. That way you won’t be comparing different models and thinking you’re getting a better deal.
Persuading you to buy something you don’t want or need
By offering small numbers of items, for a short period of time, retailers create scarcity. Psychologically this encourages us to put a higher value on the ‘scarce item’, so we’re more likely to buy it. The time limit also rushes us into making a decision, so we don’t have time to shop around. Meanwhile, by flooding us with messages about deals through adverts, emails and social media, they build a sense of occasion and opportunity, so you can’t resist joining in.
Tempting you to trade up
Retailers will offer a discount on the top-of-the-range item, in the hope that shoppers will persuade themselves to trade up. If you ever find yourself with a blender or a toothbrush with more features than you’ve ever used, there’s every chance you’ve fallen foul of this trick.
Scams
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Hide AdIt’s not just the tactics from reputable retailers we need to be aware of. This week, Action Fraud warned that over £11.5million was lost to online scammers during the Christmas shopping season last year. Criminals will use the fact you’re distracted by Black Friday bargains, to take advantage and steal your cash.
A flood of fakes
We can expect to see the internet awash with fakes. These are sometimes easy to spot from the photo and description, but sometimes look convincing at first glance. Make sure you’re not being shown a generic product picture, and if they show the item they have, check it against a picture of the real thing. It’s also worth comparing the price, because if it’s much cheaper than usual, it’s a reasonable warning sign.
Scammers offering something that doesn’t exist
Criminals will offer to sell you must-have items at great prices. They might set up a fake website, but very commonly they work through social media or auction sites. The items on offer vary from year to year – depending on what’s in demand. There are some early signs that posh beauty advent calendars are a theme this year. Once they’ve reeled you in, they’ll request payment by bank transfer and disappear with your money. It’s not always easy to spot these scams, which is why it often makes sense only to shop with retailers you know well. It’s also worth being particularly sceptical if you find a good deal on something that seems to be sold out elsewhere.
Unexpected parcel scams
These come in a couple of different forms. One of them is where a criminal will use details from a data breach to order items in your name, to your address, from their own site. Once you’ve signed for it, they’ll post a positive review – from someone who appears to be a verified customer. They can then use this to reel more people in.
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Hide AdThe newer variation of the scam is where along with the item, they include a QR code, and ask you to scan it if there’s an issue with the delivery. If you scan it, you’ll be encouraged to input personal details, which they will then sell on.
Fake reviews
It’s a good idea to read the reviews of a website or item to make sure something isn’t a scam. It’s vital to be alert to the potential for fake reviews too. You can sometimes spot the ones that are too good to be true – they have a particularly high percentage of five-star ratings and glowing reviews, but they’re less likely to go into detail about the item.
Failed transaction scams
This is a phishing scam. Con artists take advantage of the fact you’re likely to have bought something online with the biggest retailers, so send emails saying a transaction has failed and asking for you to resubmit bank details. They include a link, hoping you will click through and enter your payment details again. That way they can harvest them and sell them on to someone who will empty your account.
Delivery company phishing scams
This is another phishing scam, where the criminals will pretend to be delivery companies, asking for personal information. They’ll take advantage of the fact you may be expecting a number of deliveries of Black Friday purchases, so won’t be keeping an eye on whether they’re legitimate.
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Hide AdIt’s worth being aware of all of these risks. It doesn’t mean you have to be terrified into missing out on Black Friday, but taking the time to consider the possibility something may not be what it seems should help you enjoy the bargains without falling foul of the darker side of the day.
People want more help
We recently ran a piece of research asking people who they would most like to ask for help on a range of financial issues, and financial advisers topped the list for investment and pensions. A significant chunk of people also wanted financial advice on savings, debts and money worries more generally. There’s an enormous amount of comfort that comes from being able to ask an expert, but given that only 10% of people actually get financial advice, there’s clearly an advice gap that needs to be filled.
It’s why it’s so important the government and the Financial Conduct Authority make progress on allowing more free help from financial companies – as an alternative to paying for advice. It’s also why it was so positive that Rachel Reeves mentioned this in her Mansion House speech.
At the moment, people can get guidance from financial companies as an alternative to advice, but it needs to be generic – presenting what’s available without steering people towards sensible decisions. This time last year, the FCA published a paper, suggesting firms may be able to offer more targeted support, for groups of people in similar circumstances. It will start consulting soon, but in the interim, it’s just great to see progress being made on a change that could provide a solution for the millions of people who need help but can’t afford advice.
Sarah Coles is Head of Personal Finance and Podcast Host for Switch Your Money On Headline Money Press Team of the Year Hargreaves Lansdown
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