Its Black Friday again and many of us are eager to get great deals. You’ll be amazed to know that only a small fraction of us actually get good deals on Black Friday, why?
1. Not every item actually gets sold at a discount on Black Friday
Contrary to what you might think, not every item goes at a cheaper price on Black Friday; infact, some are more expensive and its a no-brainer. Lets say i’m the retailer and have 4 items to sell; A, B C and D. I projects that A will attract a lot of people so I spend a lot of money marketing Black Friday deals. Now, because i’m expecting a lot of visitors on Black Friday, I give a discount on A but keep the price of B, C and D the same or slightly increase them. Visitors who see A as a deal might be fooled into thinking B, C and D must also be deals. Visitors who think Black Friday is a day for all round discounts would buy B,C and D thinking they must have gotten discounts. Visitors who come around due to the Black Friday buzz could buy A, B, C or D just because they like the item(s).
2. The real deals are often flash sales
The awesome bargains often come and go in minutes. They don’t just sit around all Black Friday so don’t think that every deal you see with a -x% discount tag is actually a great deal. Those who profit the most from Black Friday are those who know what they want before Black Friday and track them down on Black Friday as they open for orders.
3. Huge discounts aren’t always a good thing
My rule of thumb is nothing more than 20-30% off unless I know the item I wish to buy pretty well. When you see a product (not service) going for as much as 80% off then you should ask yourself one question; Why are they trying to get rid of it? Often times, it means something better is around the corner so don’t get greedy.
4. Shopping Bots always win
Have you every been in front of your PC when the countdown hits 00:00:00 only for the website to be unavailable then when you’re finally able to open the URL to your desired item, the phrase SOLD OUT greets you? That is Shopping Bots in action and you stand little to no chance until they’ve had their fill. This is talk for another day.
5. The retailer’s subscription form is your map to finding great deals.
I’m not a fan of subscribing to newsletters but I make that exception on Black Friday. Aside from the deals displayed on the retailers website, newsletters could be a great place to find deals. Every subscription form on the retailers website could be a key to locking down deals others don’t even know about
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