Black Friday is rapidly approaching, and it looks set to be a great opportunity for business owners to grab some deals.
There will be tons of offers across the internet and in the highstreet that owners can take advantage of and buy discounted products for their business.
A Great Opportunity For Owners
It’s been well documented through spending reports that people believe Black Friday is the best time of year to get deals!
People flock to the stores and search the internet to find the best deals in time for Christmas.
Business owners also have a wonderful opportunity to buy products for their business and save themselves some money.
The best deals are often found in technology, however, stationary and office supplies are also often heavily discounted too.
However, reports are surfacing that many of these Black Friday deals might not actually be deals at all…
Are These Black Friday Deals Really Worth It?
Reports are suggesting that only 1 in 20 Black Friday deals are actually real discounts!
The company Which? has undertaken research and claim that the annual shopping event is actually ‘all hype’.
Their research suggests that if you wait until after Black Friday, that will be the time when the true discounted deals come in.
Their report found that:
A DeLonghi coffee machine at John Lewis cost £399 on Black Friday last year, however it was discounted to £368 at least 35 times in the following six months.
A Samsung soundbar was sold on Black Friday last year at Currys PC World at £299. The following month it was reduced by a further £50.
Is There More To This Theory?
It seems like pretty strong evidence… however, is there more to this theory?
As a business owner, try to imagine this scenario:
If you have a product that you expect to widely sell on Black Friday, but for whatever reason it doesn’t sell…. What is your next step?
The next logical step is offer a further discount on the product to make way for new stock intake in the future. Right?
Just because an item is further discounted, doesn’t negate the initial offer. It perhaps just suggests that the company didn’t sell as many as they hoped for in the first place.
This could be a big part of the Which? report about Black Friday deals, and therefore it doesn’t totally convince us that the entire day is a sham.
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