Spend your money wisely this Black Friday

The Americans shouldn’t worry that South Africa will cosy up to Russia because so much US culture is consumed with alacrity here.

First it was Halloween, then Thanksgiving and now we’re all going crazy for the ultimate shopping blow-out, Black Friday.

The original “Black Friday” was on 24 September 1869, when the US gold market collapsed.

There have been other grim Fridays in financial history over the years, but US retailers began to work around that day – which falls after the end of Thanksgiving – as a way to go from red to black (the difference between trading at a loss and going into profit). The sheer volume of the “holiday” sales often makes that a reality.

In South Africa, we have adopted the concept and, if nothing else, have proved that when the going gets tough, the tough go shopping.

ALSO READ: Consumers expected to spend about R7 billion more this Black Friday

Today’s Black Friday will be even better, with the retail sector expecting a R7 billion revenue increase from the sales, which have expanded to include “Cyber Monday” when you supposedly get deals on electronic goods.

While there will be amazing bargains to be had out there, let’s not fool ourselves: many of the alleged savings are fictitious because they are mark-downs from inflated prices in the first place.

This year, South African buying behaviour might change because of the tough economic times, with some economists predicting that pressured families may look for bargains in food and basic household items, rather than luxury goods like TVs and electronics.

Whatever your chosen way to blow your money, be on the lookout for the plausible sounding internet con artists who will take your funds in an instant.

Don’t be surprised, either, if the Black Friday bargains you ordered online never arrive – courier hijackings at this time of year go up as prices come down.

ALSO READ: Five ways to shop wisely and safely on Black Friday