With Black Friday just over a week away, consumer expert Wendy Knowler is warning residents to be mindful of overspending.
Next Friday will mark another year that South African retailers take part in the global shopping spectacular known as Black Friday.
This year’s sales and promotions fall against the backdrop of rising fuel prices, growing inflation, increased interest rates, and the inevitable surge in food prices, which have crippled many households.
Black Friday signals the start of the holiday shopping season and consumers are gearing up to give their wallets a workout.
However, consumer journalist Wendy Knowler has answered the pertinent question: do you really need that TV?
“There are, without doubt, for the savvy shoppers, huge bargains to be had but the people that win out of Black Friday, and I say this every year, are the ones who know exactly what they want and they save up for it and they’re not buying on credit, they track the prices like a hawk. If you don’t know the prices, if you don’t know the history, you don’t know whether it’s a genuine saving or not.”
Knowler said that consumers should keep their budgets within reason, adding that the Black Friday debt trap can almost be as painful as a trolley wheel to the ankle.