What is Black Friday and Cyber Monday?

Wednesday, November 18, 2020

What is Black Friday?

Black Friday is an informal name for the Friday following Thanksgiving in the United States, which sees many stores offering big sales and price reductions. This now hugely popular sales event has made its way across the pond and also happens every year in the UK. This year it falls on the 27th November.

It’s one of the biggest shopping events on the retail calendar, although this year, because of coronavirus, most of us will have to find our Black Friday bargains online.

With a range of retailers set to reduce their prices on luxury items such as TVs, laptops and pretty much anything you can get your hands on, it's the best time of the year to find a deal that’s perfect for you - and it’s a great chance to get Christmas presents sorted for the whole family.

What is Cyber Monday?

Cyber Monday takes place on the 30th November - which is the Monday following Black Friday. This is a day designed to encourage people to shop online for more deals, this year though it’ll be more a continuation of the mainly online sales events.

It’s also an excellent opportunity for those that have missed out on the early Black Friday and October’s Amazon Prime Day sales.

Top tips for the Black Friday sales

It’s hard to say where the best deals will be and what products to buy this Black Friday as it can vary every year. We can though offer you some top tips on what to look out for and how to stay ahead of the mayhem - these apply for both Black Friday and Cyber Monday

Research the products beforehand

It’s always great grabbing a bargain - but it’s not great if the product isn’t worth it. So make sure you read the reviews online on that specific product and any other product from that company!

Create a wish list

Some websites allow you to set one up - you can also write it down. Having a list to refer back to so you know which items you want is super helpful. It saves you time, instead of scrolling through item after item trying to find the best deal. It’s a simple and time saving way
of shopping!

Look for the early deals

In recent years, many retailers and outlets have launched deals a week or two before Black Friday. This year there may even be some that are running promotions throughout the whole of November. If you’re really keen you can even jump online super early to try and get a headstart on everyone else!

You can find a list of websites that have brought their Black Friday deals forward here. Those are just three tips, you can find more on Which? They have included 15 top tips that should be a massive help for those looking to get involved in Black Friday and Cyber Monday sales.

Look out for scams

If it looks too good to be true it usually is! Be on the lookout for dodgy sellers and scams, as scammers tend to take advantage of unsuspecting people around this time of year. Here’s a few tips on how to protect yourself from criminals:

  • Keep a strong password- It may seem simple but it is effective. According to the National Cyber Security Centre, a good way to create a strong and memorable password is to use three random words - with numbers and symbols. Use a different password that isn't the same as your account details
  • Make sure the site you are using is real- Make sure you’re triple checking everything is legit when using a website that you’re unfamiliar with. Look for things such as previous reviews and trust ratings. If you don’t think it checks out then don’t take a risk on that site before you hand out your financial information!
  • Think about your payment- Consider how you would like to pay. Credit Cards are usually safer and more reliable than Debit Cards - you have more protection if something goes wrong. You can also use Google Pay where you don’t have to give the seller your information directly! When purchasing online expect to provide some method of payment, shipping address, telephone number, and email address etc, however if the seller requests other information don’t go through with the purchase.

How Leeds Credit Union can help you with these sales

With our fair and affordable loans , we can also help you afford the discounted products you may want for Black Friday, Cyber Monday and for the upcoming Christmas sales. Take a look at our loans to see how much you could borrow, as we have a range of amounts to
cover a variety of different buying needs.