Safe Shopping this Xmas: ‘black Friday’, ‘cyber Monday’ and how to protect yourself.

Everyone knows we all spend more at Xmas – according to the Bank of England, 20% more on food, 30% more on alcohol and 80% more on books for a total average increased December spend of £500 per household. We do it whether we can afford to or not and then spend January and February wishing we had managed our money better.

What most people won’t be aware of is that, according to the Office of National Statistics (ONS), consumer spending in December has been falling for several years now.  Why – because consumers have brought forward Xmas purchases to ‘Black Friday’ and ‘Cyber Monday’.

‘Black Friday’ and ‘Cyber Monday’, for those not in the know, are both American inventions and focus an enormous amount of consumer spending energy into the last week of November.

The former focuses on high street selling, offering all manner of ‘mega-deals’, and is scheduled for November 27th this year. The latter, which focuses on online selling, follows on November 29th. The internet now accounts for almost one fifth of all spending in Britain in December.

Spreading Xmas spending into November, and taking advantage of the best deals available, are both good tips to avoid a miserable post-Xmas debt hangover, but there are others.

Here are a few of the best ones:

  1. Make a budget before you start and stick to it: don’t let impulse buying ruin Xmas.
  2. Create a wish-list: knowing what you are looking for will save time and money.
  3. Prepare ahead of time: research the products you want beforehand, compare prices and find out whether retailers will match prices if challenged.
  4. Sign up for online accounts with the biggest retailers a few days in advance: this will save valuable time on the day(s).
  5. Start your shopping early but be wary of unusual brands: online shops are open 24hrs a day but watch out for offers that seem too good to be true.
  6. Always look for a secure payments option: look for the padlock icon when shopping online and know your section 75 and chargeback rights.
  7. Check the returns policy: there can be devil in the detail so know your rights.
  8. Check dispute settlement procedures: research these beforehand, especially if using ‘online marketplaces’.
  9. Don’t be pressurised into buying quickly: this is a classic tactic for scammers.
  10. Look at the price, not the ‘saving’: don’t be fooled by the hype. Value for money is what matters most.

Black Friday and Cyber Monday are both fantastic opportunities to get great consumer deals. But, like any online opportunity, it is really important to stay safe online, avoid counterfeit or illegal goods, and not to fall into ‘financial quicksand’; where you enter into payment agreements easily, especially around subscriptions, but find it hard to extricate yourself if you change your mind.

———————————————

To find out more about your consumer rights visit:

https://www.citizensadvice.org.uk/consumer/

To stay safe online visit:

https://www.getsafeonline.org/

To recognise and report counterfeit goods visit:

https://www.coventry.gov.uk/counterfeitgoods

To know how to get your money back if a purchase goes wrong visit:

https://www.citizensadvice.org.uk/consumer/somethings-gone-wrong-with-a-purchase/getting-your-money-back-if-you-paid-by-card-or-paypal/

For top tips on making the most of ‘black Friday’ and ‘cyber Monday’ visit:

https://www.which.co.uk/reviews/black-friday/article/top-15-shopping-tips-for-black-friday-deals-agwOd5D4LCzw

To report a consumer issue call the national Consumer Helpline on: 0808 223 1133.

Finally, for free and impartial money advice, visit: https://www.moneyhelper.org.uk/en?source=mas

testeditor

Feedback
Feedback
How would you rate your experience?
Do you have any additional comment?
Next
Enter your email if you'd like us to contact you regarding with your feedback.
Back
Submit
Thank you for submitting your feedback!