Important Tips On Shopping Wisely This Festive Promo Season
With the crowd entering the premises and music blaring from the giant speakers mounted at the entrance of the mall, it almost felt like a carnival at a popular mall in Lagos that Saturday evening.
But as one would later find out, it was the last day of a promo-cum-Buy One, Get One Free offers on certain items declared by the mall. However, the long queue at the counter appeared to be the most discouraging. It was long enough to make one turn back to return another day even if the promo would have ended.
But as impatient and anxious customers waited to pay for their goods and run off to escape the heat that had overpowered the air conditioning, there were instances where people in the slow-moving queues returned goods when the money they came with could not cover all the items they had picked.
Such seems to have become a norm in the season of discounts and very attractive offers, such that some people even tend to take a loan to shop, perhaps in a bid to save money and get as much as they could.
But bearing in mind that there are other responsibilities outside getting the needed supplies, especially after the Yuletide, it may seem helpful to examine how people could make the best use of the season and still economise their resources. Some of these are:
Have a budget and stick to it: Drawing a list of basic needs and staying in line is perhaps one of the best ways to be frugal this season. In the absence of a budget, it is not uncommon for people to be caught up in the excitement of being surrounded by cheap items and they could start buying things they have or things they might not need anytime soon, which could inexorably – depending on their income levels – affect the funds meant for other important things.
A report by Consumer Reports, an organisation that uses its research to educate consumers, noted that it takes discipline to stick to a budget in this season because of the juicy offers. The report said, “Creating a budget sounds simple but Black Friday sales, especially the specials available in limited quantities, are designed to get you into a store so that the retailer can sell you something else.
And once there, it’s easy to get caught up in the buying excitement. Therefore, decide ahead of time how much you want to spend on your Black Friday shopping spree, and do your best to resist impulse buying, especially if you’re not sure how good a specific deal is.”
Try buying with cash to limit your spending: While this is akin to the previous point, it could also stand alone. This emphasises the advantage of going to a shop that organised a Black Friday sales with cash, based on budget, to control the zeal to buy one more item that is not really needed, especially when there is excess cash in the account. The alternative, however, is to go with a card that has the exact amount budgeted for the purchase.
“If you find that you are too free with your debit cards, try buying with cash this year and see whether you have better self-control,” CR added.
Don’t miss the best deals: It would seem helpful to stay updated on the goods on offer so as not to be left with remnants that might be of no use to specific needs. Thus, people are advised to track the deals so as to eliminate frustration and ill feeling afterwards, especially coming across someone who got a better deal by going earlier.
CR pointed out that one of the ways to get such is to sign up on the (secure) websites of the stores so as to receive alerts and updates. It added, “Only rookies head out on Black Friday unprepared. Getting ready means studying the ads in print and online. Also, the social media pages of your favourite retailers are a great way to find out about deals and promotions and retailers will often reward customers who like or follow them with special alerts to Black Friday discounts and incentives.”
Don’t forget to compare: Given that many stores are doing promo this season, it might be helpful to compare the items that are discounted in the different stores before choosing which of them to patronise. This would help to eliminate regrets that could come up after realising there were better deals in some other stores.
Familiarise yourself with the store’s policies: Due to the rush, it is not impossible for there to be some mix-up in a transaction, which could force people to want to return an item. Thus, people are advised to study the store’s return policies in advance so as not to be a victim of such, especially in cases of bad products or price-match.
“It’s always good to know a store’s price-match and return policies. Check the return and exchange policies for Black Friday sales to make sure that the store won’t charge a restocking fee for any item you bring back,” CR advised.
Beware of very cheap items: Perhaps one of the things that come with Black Friday or such initiatives is for stores to want to clear their old stock, and so people are advised to be vigilant. In essence, while very cheap items can be very enticing, people are often advised to make sure they are not buying old or outdated items at cheap prices, when they could get a newer version that would serve them better, if only they could add some money.
CR said, “Super low-price specials, like television draw people in with visions of savings, but these sets might not be worth the price. You’ll probably be watching your new TV for a number of years. If you’re not happy with its features or picture quality, you could regret not spending an extra 50 bucks to get something better.”
A personal finance expert, Janet Alvarez, told Forbes, “Yes, you’ll see lower prices on things like off-brand computers, and electronics that are a season or two old, but don’t expect deep discounts on the latest-and-greatest models. Those won’t go on sale until the last minute, if retailers have any left.”
Meanwhile, Money Crashers, a website that educates people in making wise financial decisions, advises that people should exercise care amidst juicy offers.
It said, “Holiday sales can be an epic opportunity to save money – but be careful. Not all deals are created equal, and some may not even be truly discounted, as some stores keep prices the same but simply mark items with a ‘sale’ sign.
Of course, you never save money by spending, no matter how significant the discount. Sales are great, but they don’t mean much if the money isn’t in your budget. If necessary, bring a printout of your budget so you can check your spending in real-time and avoid being swayed by a screaming deal.”
It added that people should always compare shops before purchasing an item during a sale. “If you tend to fall victim to the festive atmosphere of a store and make unwise purchases, try shopping solely online. You can snag great deals and use coupon codes to get a lot more for your money,” it added.
Source: PUNCH.
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