This is how stores trick customers Every third Black Friday offer is a sham
Supposed discounts that aren't: An analysis shows that many deals around Black Friday do not offer any real price advantage. Consumers often pay the same amount as weeks before - and don't realize it.
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- According to an analysis by WalletHub, over a third of Black Friday deals don't offer any real savings compared to the weeks before.
- Many discounts are based on pricing strategies such as product repackaging or specially produced models that make it difficult to make real comparisons.
- Experts recommend monitoring prices in advance and taking warnings about "saving" seriously to avoid bad purchases and unnecessary spending.
Black Friday has now become a ritual - almost a holiday in the annual calendar. But behind the shiny facade of "unmissable discounts" lies a bitter truth: many discounts are not discounts at all.
According to a new analysis by WalletHub, more than a third of Black Friday deals (36%) don't save a single penny compared to prices between October 27 and November 17. So in practice, the exact same price is being sold as a super bargain - just because it's the big day of compulsive shopping.
"There's a bit of a strategy behind it," warns savings expert Andrea Woroch in an interview with CNBC. "Retailers are constantly changing prices. They might repackage a product and present it as a special offer, even though it cost exactly the same a few weeks earlier."
Among the false discounts, there are also real bargains. According to WalletHub, the average discount is around 24 percent. But you have to know how to spot them.
"Consumers need to be smart," says Chip Lupo, analyst at WalletHub. "Stores are relying on last-minute chaos: people see 'sale' and buy."
Consumers should check the price and model beforehand
Ideally, you should look at the products you want to buy weeks in advance, advises savings expert Woroch. And even if you come across an offer on Black Friday that seems too good to be true, it's not too late to check the price again.
There are tools on Amazon that compare current prices with previous highs and lows. Other services send a warning as soon as a product drops in price in over 800 stores.
Another pitfall: many items are produced as cheaper or "simplified" versions especially for Black Friday. The classic example is televisions. If the price is extremely low, it is often a basic model that is similar to the original - but not identical.
"Even if it looks the same, you shouldn't assume that it really is the same model," warns Woroch. "To be sure, you should check the serial number, look at the release date and read reviews."
Beware of "saving"
Although Black Friday is considered the day with the biggest discounts, it is not always the best time to make a purchase. Winter clothing, for example, is often significantly cheaper after the Christmas period.
Woroch also warns against so-called "saving", i.e. the phenomenon of spending more money in order to supposedly "save money". A typical example is promotions such as "buy two, get the third free". But if you only need one, the other two are simply wasted money - not savings.
"You risk leaving Black Friday with a lighter wallet and a house full of useless things," warns the expert. For people on a tight budget, this trap can quickly become a serious problem.
