Money Saving Expert Martin Lewis has shared crucial advice for shoppers ahead of Christmas
One of the biggest shopping events of the year is finally here, with many savvy shoppers hoping to bag some fantastic deals. While many retailers capitalise on Black Friday sales by releasing early deals and events, is it actually the best time to do your shopping?
The major shopping event originated from the American tradition as the last Friday of November falls just after Thanksgiving. As the busiest shopping day of the year, this event quickly travelled across the pond to the UK, with a variety of retailers jumping on the bandwagon.
From discounts on big tech items and homeware to money off holidays, there are many bargains to be found over the Black Friday weekend and Cyber Monday. While many people may feel like this is the perfect time to snap up some Christmas presents ahead of the festive season, this may not actually be the case.
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Money Saving Expert Martin Lewis has given shoppers some advice on shopping in the Black Friday sales, along with a warning for bargain hunters on how to make sure they are getting the best deals, reports the Express. He also shared when is the best time to do your Christmas shopping.
With so many shops and online retailers flashing big sale signs from their brands, it can be hard to know if you are getting the best deals while you are shopping. Additionally, the upcoming pre-Christmas sales can also add to the confusion, reports the Daily Record.
Black Friday has previously faced criticism for failing to offer genuine reductions. Yet analysis by Money Saving Expert revealed that last year 37 out of 50 bestselling products were less expensive during the Black Friday sales compared to the period leading up to Christmas.
Martin explained: “The idea that Black Friday discounts are a complete washout is not backed up by our data – compared, that is, to other prices in the run-up to Christmas.”
However, he did warn: “Yet that doesn’t mean it won’t be cheaper at other points of the year. Ironically, the best time to do Christmas shopping (apart from perishables) is likely to be in January.”
The financial guru added that if you’re planning to shop for Christmas presents and the product you’re considering has a substantial Black Friday discount, then “the chances are you should buy it”.
During his ITV programme The Martin Lewis Money Show Live, the consumer champion guided viewers on securing worthwhile bargains if they’ve delayed their festive shopping.
He said: “If we look at when is the best time to buy between Black Friday and Christmas, well we’ve been doing research on this the past couple of years.
“About 70 per cent of the time, Black Friday is cheaper than early Christmas, about 10 per cent of the time early Christmas is cheaper than Black Friday.
“So if there is something and you need it before Christmas – by the way you can always delay it til after Christmas – do an IOU and put that in their Christmas [presents], they’ll love it – you’d be better to do it at Black Friday.”
Making an appeal to viewers, he continued: “There is something I do want to say, this is my memo I do every year, my annual Black Friday shopping memo especially with the festive forecaster coming up.
“If you were gonna buy it anyway and it’s half price you saved 50 per cent, hurrah. If you weren’t going to buy it but do because it’s half price you’ve wasted 100 per cent.”
Shoppers hoping to capitalise on Black Friday and Cyber Monday bargains will need to act swiftly, as numerous offers are set to vanish after this weekend.
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