Is Black Friday A Scam?

First of all, What is Black Friday?
Black Friday is an informal name for the fourth friday in the month of November. It is a name givento the shopping day after thanksgiving in the USA. 

The friday after this thanksgiving is the most profitable day of the year. Accountants use black to signify profit when recording in their entries. So black Friday means Profitable Friday to retailing. Although these days, It is no longer just a day, a weekend or even a full week. It is prett much of November and December.

This is the period where you get pretty low prices for goods and services. Though it is known for the lowest prices of the year, It is also one of the worst time to shop.

Black fridays are used to attract customers by offering few products at a discount. Then once these deals run out, the retailers have still got the consumers because you are already in their stores or sites at which point you are likely to buy something else.

Let's take a look at some of these deals; an Android Tv worth #500,000.00 naira that's going for #300,000.00 naira or a smartphone worth #80,000.00 naira going for #40,000.00 naira. How do retailers afford to part with these products at ridiculous prices?

They Can't and They Don't...

What they do is sometimes offer lower quality products at ridiculous prices.
But, some products are real. They are the same items we see all year round in which case it probably pays to jump on what could be their lowest prices of the year, right? 

According to the wall street journal, most items are offered below black friday prices at different times throughout the year. 
What this means is that you are likely to get a better deal on a TV just a week before a major Football competition, or on a mobile phone after the release of a better version.

But there are always exceptions and if you play your your cards right, you might come away with very handsome deals.

Remember buying a product you don't need at half the price isn't saving money, It is wasting the amount spent on the product.

So is black Friday a scam? Well it depends on you.

Comments Reply
  • It really depends on the buyer and what he or she needs from the items to purchase. There are some products that are sold at a high price when they first hit the market but if it is a product you need and you are patient enough, the black Friday would help you get it and at a price that would save some money for you

    Some retailers would always tell you to return it if it is not really what you ordered for. To me this is an added advantage

    - Tobijah Ekperikpe - 2019-12-18 10:32:27 Quote

  • Actually in a way black Friday discount sales can be considered a scam depending on the mode of platform your buying from , because even the rates that we consider cheap with no intentions of making profits for the seller is actually a means of diverting the attention on other products that their prices were inflated to meet up the profit for the reduced products sold at a cheaper rate

    - Oladun Gilbert - 2019-12-19 02:54:54 Quote

  • Truly speaking, Black friday was intended to be a way of the retail companies and other businesses to say or show appreciation to the general public/customers but these days, with rising cost of doing business especially in Nigeria, there may be more than what meets the eyes. So before engaging in black friday purchases, be sure that you need the product and not based on impulsive buying so you don't feel scammed 

    - CHUKWUKA OKPOKPOR - 2019-12-19 18:50:05 Quote

  • Just because a retailer has said they gave a discount of particular amount doesn't mean it has not been inflated. Before buying any item online you need to know the real market price so you won't be cheated even if it's not black Friday deals. My suggestion is check across different online shopping platforms to compare the price and also check customer reviews for pointers.

    - Robiat Mojeed - 2019-12-19 22:21:55 Quote

  • From my own view ,black Friday is a big scam in Nigeria .They use the opportunity of black Friday to sell low quality goods. They give discount on those good to attract people. Black Friday promotes impulse buying .people buy goods they end up not using.

        Black Friday also lead to wast of time. Buyers have to wait for sometimes before the arrival of goods 

    - Aderemi Adebayo - 2019-12-26 15:08:02 Quote

  • From my experience I would say yes , because most items sold are out dated items which they want to dispose of, and also most times the price which is giving is the exact price, they just increase it before black Friday and drop it down to it's original price.

    - Aduloju Babatope - 2020-01-06 01:24:03 Quote

  • As for my own little knowledge about. Black Friday is not. Scam actually it a   special day where customers can afford. Goods , items and other valuable things at cheaper rate and it also a form of promo  so. It can bring .More customers. So I don't see anything bad in it 

    - Ayi Peter - 2020-01-06 17:20:02 Quote

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