As November rolls around, the buzz about Black Friday and Cyber Monday begins to build. Retailers flood the airwaves with promises of unbeatable bargains, and shoppers gear up for the ultimate spending spree. But are these deals really as good as they seem, or is Black Friday more about psychology than savings?
For many, Black Friday feels like a shopping tradition—a chance to snag the best prices before the holiday season kicks into high gear. This year, Canadians are planning to spend an average of $972 on holiday shopping, with 40% targeting Black Friday and 36% during Cyber Week, according to a survey by the Retail Council of Canada and Leger. Yet, when you strip away the glossy advertisements and limited-time offers, the actual value of Black Friday deals becomes murkier.
A 2021 analysis by the U.K.-based consumer advocacy group Which offers a sobering perspective. Of the 213 Black Friday deals they reviewed, a staggering 98% were available at the same price—or cheaper—at other times of the year. Nearly half (46%) of these “bargains” were more affordable in the months outside of Black Friday, and 85% could have been found at equal or lower prices in the six months leading up to the shopping event.
These numbers highlight an inconvenient truth: Black Friday is often more about marketing tactics than meaningful savings. Retailers rely on a sense of urgency, using phrases like “one day only” or “limited stock” to drive purchases. The fear of missing out can cloud even the most rational shopper’s judgment, leading many to buy items they might not even need.
That’s not to say all Black Friday deals are smoke and mirrors. Savvy shoppers can still find genuine bargains, especially if they’ve done their homework. With many stores releasing sales campaigns weeks in advance, now is the time to research prices, compare deals, and identify the items worth pursuing. Understanding historical pricing trends can help distinguish a genuine discount from a cleverly disguised markup.
But shoppers should also be cautious of the broader implications of Black Friday. The pressure to participate can encourage overconsumption, contributing to waste and unsustainable consumer habits. The event’s focus on materialism often clashes with the values of thoughtful, intentional spending and the holiday season’s deeper meaning.
Ultimately, Black Friday can be an opportunity—but only if approached with a healthy dose of skepticism. Don’t be swayed by flashy ads or countdown timers. Instead, create a clear game plan, stick to your budget, and prioritize purchases that align with your needs rather than the retailer’s bottom line.
For retailers, Black Friday is a well-oiled machine designed to maximize profits. For consumers, the challenge is ensuring it works in their favor too. By staying informed and mindful, shoppers can avoid the hype and focus on what truly matters: spending wisely and making the holidays meaningful.
S.M.
