11 tips for snagging a Black Friday bargain

Over the space of just four days starting on November 29, Australians are expected to fork out roughly $6.7 billion in search of bargains during the Black Friday and Cyber Monday sales.

That's according to new Roy Morgan research commissioned by the Australian Retailers Association (ARA) which found that even with cost-of-living pressures still weighing on many, Australians are anticipated to spend about 5.5% more during the upcoming sales than they did last year.

Paul Zahra, chief executive at the ARA, says that many shoppers are planning to make use of the sales to get their Christmas shopping done early, for less.

"Shoppers are being savvier than ever with their dollars. They're looking for the best value when it comes to buying presents for their loved ones, which is why sales events like Black Friday/Cyber Monday weekend are consistently growing in popularity."

While there may be bargains to be had, it can be easy to be caught up in the hype and marketing surrounding Black Friday and Cyber Monday.

So with that in mind, how can shoppers prepare for the upcoming sales and ensure that they come away with a bargain rather than buyers' remorse? Read on for 11 tips for sales success.

1. Create a concrete list

With endless emails as well as online and in-store advertising offering 30%, 40%, 50% or even more off, it's not hard to be swept up in the frenzy of the sales and to end up with a mountain of packages at your door with purchases that you didn't really need - even if they were on sale.

To counter that, a little discipline can be helpful. One way to do ensure that is to sit down in the lead up to the end of November and write up a list of products or services that you're actually looking to buy.

Once that list has been cemented and you've got a rough idea of how much you're willing to spend on each item, the most important thing to do during the sales itself is, of course, to actually stick to that list.

2. Consider deals that could save you year-round

It's clear that many Australians use Black Friday and Cyber Monday to get deals on things like clothing, electronics and white goods, but it may also pay to think about any services or subscriptions that could save you money throughout the year ahead.

For example, annual membership programs like OnePass (which covers retailers like Bunnings, Kmart, Priceline and Officeworks) and Everyday Extra (which covers Woolworths and Big W) are already discounted ahead of Black Friday.

There are also already deals emerging from telcos on home internet and mobile plans, which could prove fruitful for those willing to switch and save.

3. Establish a price baseline

Do the likes of Black Friday and Cyber Monday actually offer up value to shoppers? It's one of the major questions surrounding these sales events.

Sure, the discounts and sales prices may look impressive, but how do those compare to earlier in the year or even earlier in the month when they weren't on sale?

To get ensure that you are actually getting a good deal come Black Friday, it's worth establishing a price baseline for the items on your list by comparing prices as early as possible in the lead up to the sales.

4. Work out how you're going to pay for it all

Writing up a list and comparing prices before the sales really begin can certainly help you prepare, but so will working out how you're going to pay for your sales spending ahead of time.

Will you be dipping into your savings and paying with cash or a debit card? Perhaps your preference is to put everything on your credit card for the reward points, or to use buy now pay later to pay off your purchases over time? You might even have some unused gift cards stashed away and waiting to be used.

Whatever the payment mix, work out the option or options that will best suit your budgeting needs and allow you to make your purchases for the lowest cost possible (e.g. card fees or interest payments).

5. Compare prices across retailers

It goes without saying, but when it comes time to actually start shopping during the sales, make sure that you compare the price of the items on your list across a few different retailers. After all, there could be a cheaper deal elsewhere.

There are a few ways to do this. If you're shopping online then you can open tabs with different retailers and compare the item on each, or you can use services like Google Shopping to compare various offers on specific items in the one place.

6. Make the most of coupons

The aim of the game during sales like Black Friday is to get a good deal on whatever you're buying. That doesn't have to end at the sales price though.

If you're shop online during the sales why not do a quick search online for any additional coupons or discount codes that may apply while your items are sitting in the basket.

There are plenty of coupon websites out there for people to look through, as well as browser extensions like Honey which automatically searches for and applies coupons.

7. Grab some extra cashback

On the topic of getting the biggest bang for your buck in the sales, shoppers may also want to see if they can compound their savings further by snagging cashback on their purchases.

For those unfamiliar, cashback services like Cashrewards and Shopback have deals with particular brands and retailers which allow them to offer shoppers a percentage of the purchase price back as cash e.g. 5% cashback for spending at a particular electronics retailer.

To access cashback while shopping, consumers will need to sign up with a cashback provider and shop through their specific shopping portal though.

8. Don't forget your loyalty points

Whether it's via a rewards credit card, a loyalty program or both, don't forget to collect your loyalty points at checkout during your Black Friday shop.

Of course, if you've already got a stack of rewards points in the bank, you could also consider using them to fund (or partially fund) your purchases during the sales.

9. Treat extended warranties with a dose of scepticism

Australians heading in-store for the Black Friday sales may find themselves offered the option of purchasing an extended warranty on items like electronics and whitegoods.

While it's not always the case, extended warranties don't always offer additional protection to consumers beyond what is already guaranteed under consumer law or a manufacturer's warranty.

For example, the Australian Competition and Consumer Commission (ACCC) notes that if a product or service doesn't live up to basic rights, consumers are entitled to repair, replacement or a refund.

10. Keep hold of your receipts

Speaking of warranties, Black Friday shoppers will want to keep hold of their receipts as businesses can ask for proof of purchase before consenting to a request for a repair, replacement or refund.

That's not the only reason to keep your receipt though. If you plan to claim any Black Friday purchases come tax time then, in many cases, the Australian Taxation Office will require a receipt.

In either case, the receipts don't necessarily have to be in paper form though. In addition to digital receipts, the ACCC says that consumers can provide photos or photocopies of paper receipts.

11. Beware of scams

Australians have already lost $3.4 million to online scams so far this year, according to ScamWatch, and given the popularity of Black Friday, it's certain that shoppers will be targeted.

"People need to be extra vigilant when shopping, especially if you see a deal that seems too good to be true. It's worth taking a moment to check who you're dealing with online before parting with your money and your personal information," says Matt Hannan, head of fraud mitigation at HSBC Australia.

So how can shoppers avoid scams? HSBC has shared the following tips:

• Watch out for phishing emails and texts: Scammers often try to create a sense of urgency to get victims to act in a way they usually wouldn't. Given this, HSBC recommends being extra cautious of emails or texts promoting "limited time offers" by double-checking the sender's email address and never clicking on links or attachments.
• Only shop with trusted retailers: It's not uncommon for scammers to create fake websites mimicking those of legitimate companies in order to trick people. That's why HSBC urges shoppers to double-check the URLs of websites they're shopping on.
• Avoid unrealistic deals: While Black Friday is likely to have some bumper discounts, the reality is that if a deal looks too good to be true, it probably is. HSBC suggests that shoppers compare prices across multiple websites to work out what a realistic deal might look like.
• Be wary of fake customer support: If you have an issue with something you've purchased during the sales HSBC says it's worth keeping an eye out for fake customer support profiles and avoiding them by only contacting a retailer through their official website.

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