It’s almost Black Friday – the biggest shopping day of the year when everyone dramatically slashes prices on items across the board.
I remember back in the day when Black Friday was starting to be a thing, and boy, did you get deals on things. I mean good deals on a few things, not closeout or discounted. The fun of the day was finding those crazy good sales.
But back then, we shopped differently because internet shopping wasn’t a thing, and online stores were few and far between. Now, with everything at your fingertips, sales, especially on days like Black Friday and Cyber Monday, seem to be about getting rid of inventory and getting people to spend their budgeted money with you.
Now look, I love a good discount or sale, but I won’t let it drive my purchases. The best advice I got was if you don’t need it when it’s full price, you don’t need it when it’s on sale. This leads me to my best five pieces of advice on buying during crazy sales times for your business needs.
Before clicking that “Buy” button, here are five things to keep in mind:
1: Has the item been on your to-get list, or is it something you regularly buy?
Yes, then, by all means, don’t pass it up. But don’t grab lightning deals on something because they are on sale. If you don’t need it, all you’ve done is waste the money buying something that will sit unused.
When I started my business, I bought a ton of LTD (lifetime deal) sales because you never know when you could use them. Most are in a someday folder on my laptop, never to be used. I can’t seem to make them fit into my processes. Big savings I got there.
2: Is it the best price?
Tempting discounts are everywhere on Black Friday, but are they the lowest prices? Use price tracking tools and apps to verify if it’s the best historical price or if you should hold off for a better discount later.
I remember the hubs were looking for some fishing stuff and were listed on an early Black Friday sale. He forgot to order, and when he looked a week later, they were a bit higher, but there was a 25% coupon, which was better than the sale price.
3: What’s the return policy?
Many Black Friday deals are final sale, so know the return policy before purchasing. Can you get a refund if it’s not what you expected or if you find a better price later? Many items are discontinued products; this includes courses or workshops where the information or product is no longer relevant.
4: Is it usable commercially?
Many deals feature deeply discounted personal or home-use licenses of popular software and online services. However, these license types often prohibit commercial and professional usage. Before investing in discounted software or online services like cloud storage, VPNs, etc., verify the license includes commercial use rights.
Without a commercial license, you may not be able to use the software or service for client work legally, integrate it into products or services you sell, or even use it broadly across your organization. Getting an unbelievable deal isn’t worthwhile if the license agreement prohibits business applications.
5: Are the deals only good for existing customers?
Check if the best promotions are for new customers only. Some brands reserve their deepest price cuts for first-time buyers to win new business by excluding current loyal customers. Online services, software subscriptions, and tech retailers are known for hard-to-resist deals for new subscribers while offering existing users little to no discounts.
Before assuming your loyalty will be rewarded, read the terms carefully. When in doubt, ask customer support for clarification. And be careful that the discount is only a one-time thing. Often, with annual renewal software, the discount is on the first year only (or a specified amount of time
Remember to shop smart and consider your purchases by asking these five questions before adding items to your e-cart. Doing your research beforehand allows you to snag the best deals without remorse over wasting money on duds. Happy sales shopping!