7 Black Friday Tips for SMEs 2020
By Shephard Ben Abraham|
November 27, 2019
Are you planning to buy your office equipment, staff laptops, annual stationery, etc next year in January? Why don’t you do that on Black Friday, you can save more than 30% of your budget. Black Friday is the most competitive selling day of the year, so it makes sense that it’s also one of the busiest days to shop. There are many Black Friday deals, special sales hours and doorbusters that it can overwhelm even the most seasoned shoppers. But it’s a challenging day for bargain hunters, with one major goal driving them — to get the best discounts on products before everything sells out. Here are 7 tips on how to take advantage of Black Friday:
1. Check out the Black Friday Ads and the Apps
Your local daily newspaper will be packed with ads, coupons, and circulars. This is a major source for local Black Friday savings so don’t toss it aside as you head for the office. It will also help you organize your day to maximize savings because many stores offer special discounts that are time-specific, such as early bird sales and doorbusters.
Many Android and iOS apps are designed to simplify shopping for the best deals on Black Friday. They can help you find the best place to park at the mall or even the best, least-trafficked route to stores. They’ll alert you when the stores you want to visit have coupons and special deals available, and they’ll help you compare prices while you shop.
2. Do Your Research Well Before the Black Friday
Get your research out of the way as soon as possible if you’re hoping to scoop up a deal on laptops or other office items during the Black Friday sales. A bad product is a bad deal no matter how cheap it is and being knowledgeable about the items you want to buy will help you avoid making a mistake.
3. Compare Prices
Use price-comparison internet shopping sites like PriceCheck.co.za to assist you in comparing product prices. Compare the “options” included with the product. Some retailers will lowball an advertised price on a stripped-down product and then charge you extra for the necessary parts that will make it perform as expected. A good example of this is super low-priced printers that come without the cable or printer ink.
4. Look for Early-Bird Shopper Discounts
It used to be that the early-bird shopper would get all the best worms on Black Friday. They’ll often advertise doorbuster prices, and there are also midnight madness sales and early-bird specials. Check the list of stores for holiday hours so you don’t miss a good deal.
5. Plan Where You Want to do your Black Friday Shopping
Knowing when the stores are having their biggest sales and comparing prices on the things that you want to buy will allow you to come up with a strategy as to where to shop first. Prioritize the stores you don’t want to miss going to, so you don’t miss a good deal. Most malls and shopping centers have center maps on their websites. Checking them can tell you where to park, which entrance to use to access your top stores, which stores are located close to each other, and the best routes to take.
6. Beat the Crowds with Night Owl Discounts
Internet shoppers can shop online in the pre-dawn hours of Black Friday. Many retailers will post Black Friday specials that can be ordered online and picked up at your local store. Special “web only” deals will also be available starting as early as Thursday.
7. Bring the Ads
Many stores offer a “lowest price” guarantee, but you might be required to produce proof of the exact product that’s being advertised for less. Take any print ads you’ve saved with you.
Most local retailers won’t meet internet prices even when the product is advertised on the same company’s website, but it can’t hurt to try. Print the web page that details the product and shows the advertised price. It might give you additional bargaining power and push the salesperson into waiving other charges such as assembly fees.
The enormous amount of holiday advertising, both locally and online, can be confusing and nearly paralyzing to the average Black Friday bargain hunter. Maximize the benefits of hitting the stores on a day when there are big crowds and better deals around every corner. Develop a plan and do some preliminary research. It will help ensure that your Black Friday is a shopping success.
Have fun saving money while you shop!
The Slow Fund is an initiative started by South African entrepreneur and author Nic Haralambous. It exists to help budding entrepreneurs launch their small businesses, by giving away R1000 to one passionate human every day for a year to cover initial start-up costs or provide a cash injection. As a company that is passionate about…
If 2020 has shown SMEs anything, it’s the importance of innovation and the exploration of new avenues. From entering programs and competitions, to ditching traditional banking finance for FinTech alternatives, this is how The Salad Lab came out of 2020 stronger than before. Founded in 2013 by Teboho and his wife, The Salad Lab is…