Consumers are gearing up to splurge on Black Friday deals this week.
On Black Friday last year, more than 4.7 million card transactions were processed with a bill of R2.4 billion worth of debit and credit card transactions.
Consumer journalist Wendy Knowler has shared some things to consider before going on a spending spree.
- do your homework prior and check previous prices from months before to ensure that the 'bargain' is genuine
- create a budget and only spend within your means
- find out from the store what the return policy is for non-defective items
- always keep all your receipts and proof of purchase
- you've legally entitled to return defective items for repair, exchange or refund within 6 months if you have a slip
Knowler says that for many South Africans, Black Friday prompts their first foray into online shopping.
She says, according to Takealot, gaming brands TVs and appliances are the most sought-after goods during this time.
Knowler warns that online shopping can often come with added charges and return conditions.
She finds out the various deals planned by Takealot, Massmart (Game, Makro, Dion Wired), Runway Sale and The Foschini Group.
It pays to do your homework.— Wendy Knowler, consumer journalist
Ask yourself as you prepare to click - how long will that buzz last? How mad about that product will you be in three, four months when you’re still paying it off on your credit card? Is it a necessity?— Wendy Knowler, consumer journalist
There's no bigger saving than the 100% you saved when you didn't buy anything.— Wendy Knowler, consumer journalist
If you don't like your impulse buy anymore, you don't legally have the automtic right of turn.— Wendy Knowler, consumer journalist
I think that consumer should be spending within their means and I think that it's very important that they know what they're going to spend going into it.— Karl Hammerschmidt, co-founder and CEO of online fashion retailer Runway Sale
The bulk of the trade is done in our stores... Black Friday is our biggest trade day in the retail calendar!— Brent Curry, TFG’s chief information officer
Listen to the entire ConsumerTalk discussion during The Pippa Hudson Show:
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This article first appeared on CapeTalk : 5 things to keep in mind before blowing your money on Black Friday