How to avoid Black Friday regret

Time is ticking down to what has become one of the biggest - if not the biggest - shopping events of the year in Australia: Black Friday.

Australians now spend tens of billions of dollars during the period before and after Black Friday on November 27.

This year, Shopify estimates that the average shopper will shell out nearly $350, up from $324 last year.

While the sales can offer a chance to save money and even get a head start on Christmas shopping, some Australians will inevitably spend more than they planned.

But that doesn't have to be the case.

"We're going to be inundated by Black Friday messages over the next few weeks," says Sarah Megginson, personal finance expert at Finder.

"So being prepared means you're going to have more of a chance of actually nabbing a bargain rather than buying things you don't need because you've been swept up in the moment."

So, before the sales start in earnest, here are some practical ways to help you walk away with a genuine Black Friday bargain.

1. Start with a shopping list

Perhaps it's Christmas gifts for your friends and family, or something you've been waiting to purchase for home, like a new washing machine or television.

Whatever it is you're looking to buy in the Black Friday sales, going in with a dedicated list is one way to avoid impulse purchases and budget blowouts.

2. Check prices before the sales kick off

Creating a list can help you avoid coming home with purchases you don't need, but checking prices well before Black Friday can ensure you're getting a genuine discount on the items you do want.

Some retailers have been known to increase prices ahead of Black Friday before discounting them during the sales period, which is why establishing a baseline can be useful.

You can do this yourself, or utilise tracking tools like JB Buddy or Google's Track Price feature.

3. Set a Black Friday budget

Once you've narrowed down your list and have a sense of what your target items typically cost, it's time to decide what you're actually willing to spend.

That might be a specific dollar figure for each item or a range that you'd be comfortable paying.

Having a spending limit in mind can help take the emotion out of your decisions and make it easier to decide whether to purchase or pass on an item when the time comes.

4. Make use of gift cards and points

Australians have $1.74 billion in unused gift cards tucked away in wallets and top drawers, according to Finder. That's not to mention the billions of reward points left unredeemed.

So, before spending your own money during the Black Friday sales, why not put those cards and points to use first?

And with uncertainly about the future of David Jones swirling, now may be a good time to take stock of any gift cards or points you have stashed away.

5. Watch out for sneaky sales tactics

Shoppers will need to have their wits about them during the Black Friday sales, lest they fall for some of the more dubious sales tactics some retailers employ.

As part of a recent investigation into Black Friday sales practices, the Australian Competition and Consumer Commission highlighted several tactics that consumers should be wary of:

• Inaccurate countdown timers designed to create a false sense of urgency
• Sales displayed as 'sitewide' or 'storewide' that aren't actually wide-ranging  
• The use of wording like 'Up to 50% off' when few items are actually reduced that much
• Misleading 'was/now' pricing on items

6. Know your consumer rights

It's not uncommon to see signs claiming there are 'no refunds on sale items' during major sales events. But those statements can be misleading.

Under Australian Consumer Law, shoppers are entitled to a number of consumer guarantees, including that products are of an acceptable quality, match their description and are fit for purpose.

If these guarantees aren't met, consumers are entitled to a refund or a replacement - irrespective of whether the item was purchased during a sales event or not.

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