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Black Friday myths busted: Beware of Sad Saturday

Nov 23 2018 05:45

While the idea of massive discounts will get you through the shop door or filling your virtual shopping cart, the rest of the products on offer might not be such a bargain, cautions Capitec.

"And when you later realise how much you've overspent, you'll have to deal with Sad Saturday and a gloomy Rest-Of-The-Month," it states in an attempt to make consumers aware of certain myths about Black Friday.

Capitec provides some tips to help separate these myths from the facts so that Black Friday doesn't turn into Bleak Friday.

Myth: You can't beat Black Friday prices

This is false, according to Capitec.

"The Festive Season is around the corner and retailers have a month left to lure consumers with attractive deals. On Black Friday, retailers have so-called 'doorbusters'. Those are the big discount deals being advertised to get you into the shop or on their website, but the discounts on the majority of the products are much smaller," says Capitec.  

Myth: It's a once-off opportunity for consumers

"This is false. If you think Black Friday was planned for your benefit, think again. It is intended to get you to spend money. Retailers have not reduced prices to be kind to you, rather it's a chance to drive sales and increase profit before year-end. They want to sell their goods and it won't be at a loss," explains the bank.

Myth: I'm top of the trend

"Not even close. The trend is to declutter and move towards simplicity. Buying things won't make you happy. In fact, every new piece of clutter, technology or clothing you buy can add to your worries because it is something that can be stolen or damaged. The more things you have, the more money you also need to spend on insurance and maintenance," advises Capitec.

"Don’t let it become an excuse to buy things you don't really need and spend money you don't have. Think it through and be smart."

Electronics, clothing and flashy accessories quickly become old, but a new computer for your business or a vehicle to transport your kids to school stand the test of time.

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