Black Friday: What You Should Know As A Consumer

Black Friday: What You Should Know As A Consumer

For years, Black Friday has also been one of the top-selling days in online retail in Germany. Originally, the focus was on offers in stores and department stores. Today, online purchases prevail.

As the popularity of Black Friday increased, criticism of Black Friday also began to grow, as many supposed bargains turned out to be clever communication strategies giving consumers often only a small price advantage in the end. How can consumers still shop online on this year’s Black Friday 2022 without falling into the typical sales traps and still score a bargain here and there?

Monitoring prices

It can be helpful to watch prices for the products at the top of your wish list as early as early/mid-October. Some retailers sometimes even raise prices in the hot phase or show the MSRP as higher than it is to make the discounts appear higher. The longer the prices are being monitored, the more certain the consumer can be that the supposed Black Friday bargain really is one. In the event that the purchase is not urgent, it may be worth waiting until after Christmas, because historically, prices fall again from then on.

Important notice:
Every consumer has the right to withdraw from an online purchase after at least 14 days, without reason. Some online retailers extend this period to 30 days.

Switch to refurbished offers

For several years now, the trend has been toward consuming secondhand devices: whether clothes, books, home appliances or smartphones. Trustworthy dealers and refurbished online marketplaces that, among other things, put electronic devices through their paces have long since replaced the traditional second-hand market. A warranty and reliable customer service are just as important to consumers today as a favorable price.

The prices of refurbished devices are often lower than the new price, and as a customer, you have the choice of the condition of your device: depending on the condition (possibly with micro-scratches on the chassis), the customer pays less and is thus more flexible in the purchasing process. Sustainability plays an increasingly important role in the choice of product: according to the IDH consumer report, 86% of consumers are interested in sustainability and 80% of them pay even more attention to being environmentally conscious.

Our trick: sell old equipment

Thanks to the improvement of the circular economy, nowadays it’s easy to resell your possessions that you no longer need. Whether physical buying and selling points, websites or apps: clothes, books or technical devices can thus change owners quickly and safely for a negotiated amount.

For example, if you are planning to buy a cell phone on Black Friday, it may make sense to sell your old cell phone. The newer the model and the better the condition of the smartphone, the higher the payout. Some platforms offer to exchange the old cell phone or device directly with a new one. This way, you can get a new device quickly and cheaper.

Regardless of Black Friday or Cyber Monday, consumers should make sure that they are dealing with reputable providers when buying online, since the whole discount battle often involves scammers.