Black Friday originated over 50 years ago in the United States as a campaign of deep discounts on the day after Thanksgiving.  Its name comes from the fact that on this day, stores go from being in the red to being in the black. In other words, they go from losses to accumulating profits.

Headlines and signs these days are advertising discounts of 50%, 60%, and even 80%; stores are going crazy with the discounts.   Experts are urging calm, cool heads, and not to be swayed by advertising. Instead, they recommend using social media and other sources of information to compare prices, such as checking the website of a consumer organization.

According to various market studies, 65% of Spaniards will shop on Black Friday, and 61% will do so online.  Large retailers benefit most from these campaigns, as their sales volume allows them to secure significant discounts from suppliers.  Small businesses face a more challenging situation, but they have no choice but to participate in Black Friday, otherwise they risk serious inventory problems.  Some establishments try to increase their profits deceptively, discounting only a few products as bait for curious customers and then diverting their attention to full-price items.

It’s the most anticipated day for e-commerce, and with the discounts come the first online scams. Last year, 20% of purchases made during this period in Spain were fraudulent. To avoid these scams, it’s essential to buy from trusted websites.  You should also be careful about where you connect to the internet: avoid public Wi-Fi networks like those in restaurants, hotels, or bars. It’s best to make these types of purchases from a secure connection, such as your home. If you find an excessively low discount, it’s advisable to verify it and ensure its legitimacy.  Protecting your bank accounts is also crucial : some websites encourage users to enter their account number at various stages of the purchase process.

My tips for  avoiding unnecessary purchases and not getting swept away by the emotional allure of sales are: calculate your budget beforehand, plan the purchases you need or want to make, and even prioritize them. See also:  You can live better with less

This article was published in the Diario de Almería