Do you actually save on Black Friday?

Over the past 15 years or so, Black Friday has boomed in popularity in the UK. It’s often considered one of the best times to grab a bargain, especially those luxury or expensive items that might otherwise be a little too pricey the rest of the year.

We’ve all seen those videos of customers scrambling through shops to snatch discounted TVs from shelves. But, there’s one big question that everyone should ask before you put your running shoes on: do you actually save money on Black Friday?

What is Black Friday?

Black Friday is a yearly shopping event that happens the day after Thanksgiving and is considered to be the point when everyone starts their Christmas shopping. It’s famous for big discounts and is something adopted by both physical stores and online retailers. It used to be a one-day event, but recently it’s evolved to cover several days, or even up to a week.

What are the origins of Black Friday?

Black Friday dates back to the 1960s Philadelphia when shoppers would head out in their droves after Thanksgiving, before the annual Army vs Navy football game took place. With so many people out and about, traffic around the city became congested, which led to the police referring to it as Black Friday.

It wasn’t until the 1980s when retailers adopted the term and flipped it to have a more positive meaning. Now, the black in Black Friday relates to being ‘in the black’, when retailers would have an influx of sales which would, of course, make their bank balances look good.

Since then, Black Friday has become synonymous with saving money and has been the busiest shopping day of the year since the mid-1990s. It’s now something we’ve also adopted in the UK and has grown in popularity since the 2010s.

Why are things cheaper on Black Friday?

There are several reasons why things can be cheaper in the Black Friday sales:

• A way to attract shoppers ahead of the holiday shopping season
• An effective way to clear out old stock or poor sellers
• Retailers bulk buy items ahead of Black Friday so they can afford to sell at a discount
• Retailers try to out-compete each other with bigger discounts
• It encourages customer loyalty

Do all retailers offer discounts on Black Friday?

No, not all retailers offer discounts on Black Friday. High-street and online retailers usually have specific Black Friday deals, but some luxury brands, local or independent retailers, or niche retailers may not. Take a look at our list of the best Black Friday deals and discount codes here.

Is waiting for Black Friday really worth it?

If you’re hoping to save money on a big purchase, one of the big concerns you may have is whether or not Black Friday deals are worth it.

I asked Ed Fleming, Savoo's managing director and money-saving expert, whether Black Friday sales are really worth it, or if it's a con.

"Well, the simple answer is: sometimes. It’s true, you can make significant savings by holding out ‘til Black Friday. But, it’s certainly not a guarantee.

For example, if you’re hoping to buy a new TV, you’re almost guaranteed to find some great deals on Black Friday. But, if you’re looking for a specific TV, or even a TV from a specific manufacturer, you might not get so lucky. And if you are lucky enough, there’s every chance you’ll need to get in there quickly before it sells out.

Another key thing to be aware of is how much of a discount you’re actually getting. Before Black Friday, research the pre-sale costs of items you might want to pick up. It’s been known that some retailers tell porkies when advertising their supposed discounts. It was revealed that only one in seven Black Friday discounts were legit, so it can be easy to get swept up in impulse purchases when, in reality, you’re not saving much money at all.

How to spot fake Black Friday deals

Unfortunately, not all Black Friday deals are the real deal. The reputation Black Friday has often means that many have clouded judgement, and the money-saving alarm bells mean they dive into making a purchase without properly looking into whether it’s actually worth it.

Here are a few things to think about to ensure you spot those cheeky not-so-major discounts:

• ✓ Keep on top of prices during the lead-up to the Black Friday sales. There are apps and sites available that track changing prices.
• ✓ Try to familiarise yourself with what the cheapest price looks like for the sort of things you’re looking to pick up. See if you can make a note of prices during other sales throughout the year and see if what you're after is regularly the same price.
• ✓ Keep a look out for price manipulation, where retailers inflate the original costs to make their Black Friday discounts look better.
• ✓ Do a little research on a retailer and see if they have a history of inflating their Black Friday discounts.
• ✓ Approach limited-time offers with caution. Flash sales or limited numbers that push you to make a purchase are sometimes a way to push bogus discounts.
• ✓ Take a look at what prices look like after the Black Friday period to see how much they increase (if at all).
• ✓ Trust your instincts – if it looks too good to be true, it quite often is.

What are all the best deals to look out for on Black Friday?

When it comes to grabbing yourself a great bargain, some retailers and types of products are often better than others. Here are the sorts of deals you should look out for if you want to get the biggest savings:

• Electronics: Black Friday is possibly most well-known for having big discounts on TVs, but many different types of electronics are given generous discounts. Big-name brands like Curry’s, Samsung and AO are just a few to look out for this Black Friday.

• Appliances: Large appliances like washing machines and fridges, as well as smaller appliances like coffee makers and mixers often get decent discounts. Keep an eye out for big deals from top brands like John Lewis and Argos.

• Fashion and accessories: Retailers often use the Black Friday sales as a way to replace autumn stock to make room for winter clothing, so you can expect to find huge sales at Shein, ASOS, Footasylum, offering you savings you don’t want to miss.

• Toys and games: With Christmas approaching, retailers know that parents will be on the lookout for ways to save money on gifts, where Debenhams and Amazon are ones to have on your Black Friday radar!

• Furniture: Furniture retailers can offer decent limited-time offers that save you a lot of money and even guarantee a pre-Christmas delivery. Very are known for having huge sales across Cyber Week, so you can get ahead on your furniture shopping by checking out their latest Black Friday deals as and when they are released.

Save money all year with discount codes from Savoo

While it’s associated with being a time to grab huge savings, there are no guarantees that you’ll bag the best deals on Black Friday. But, if you’re savvy and keep an eye on prices, there are plenty of fantastic offers to be found. Another simple way to save money on your purchases year-round is by using up-to-date discount codes, like those found here at Savoo. Save money on big-name brands like Currys, JD Sports, AO, Ninja and many more.