Prices will be down (OK— closer to normal) but scams are on the rise as shoppers prepare for the biggest buying holiday of the year.
Black Friday (named for its tendency to put companies in the black because business ledgers indicate debt in red ink and earnings in black) is a holiday of excessive capitalism. Stores historically offered deep discounts on big ticket items— but it was all first come, first served— leading to lines that circled the building and often started days in advance.
At it's height, going out on Thanksgiving night to line up for deals was all part of the tradition. You filled up on turkey, sides, and pie— took a nap— then headed out into the night with family and friends hunting for a bargain.
And then came the internet.
Why go out in the middle of the night and fight the crowds when you could click a button from the comfort of your pajamas at home, a piece of warm pumpkin pie in hand? It didn't take long for retailers to catch onto this revenue stream— especially after the advent of Cyber Monday. Gone are the lines, the tents (Yes, that was a real thing) and the overnight frenzy. You can still find deals in stores and at early or extended hours, but stores and consumers have shifted away from the in-person, mass-hysteria of Black Friday.
It's not the perfect shopping experience, though. The Better Business Bureau tells us the hunt for the perfect gift and an even more perfect price can put shoppers at risk for some serious scams.
Thieves target your financial information, sure, but often they're looking to get your personal info, too. Not only can this lead to identity theft, but it hurts the local economy.
“Every dollar sent to a scammer is one dollar that's not spent right here in West Michigan," says Troy Baker, Director of the Better Business Bureau Educational Foundation. "And we want to do everything we can to protect consumers and help those West Michigan businesses.”
And as common as the warnings are, thousands of trusting people fall victim every year— even more when finances are tight.
“We really want to help consumers be wise consumers with their purchases and make sure that they're protecting themselves and their family's income.” Baker said of the BBB's Educational Foundation.
Here's what to look for:
Social media advertisements— especially for a store you've never heard of before. These are the biggest offenders, out for your financial information.
High pressure tactics— if you must buy in the next X-amount of minutes to get the advertised deal, or the company is conveniently going out of business that day; shop elsewhere.
Prices that are too good to be true— They're not. This is often a way to sell shoddy products and knock-offs.
No reviews for the seller or store— This is a big red flag. Steer clear.
“When you're shopping online, the best advice we can give is to take your time and do your research before you submit any money.” Baker tells us. “[It] doesn't have to take days to research a website. Just a quick Google search or go to BBB.org.”
How to protect yourself:
Know the return policy— including dates and where to go if you've bought from a kiosk or other temporary space— and keep your receipt.
Be deliberate with gift cards— Only get them for retailers you know and get the receipt.
Go where you know— Shop in stores and malls with a history of good products, service, and make sure receipts show dates and items purchased.
Get a receipt— Have we said that enough? We can't. One for you, one for the person getting the gift. You can always black out the price, but you need to be able to prove you bought it should something go wrong.
Use credit or pre-paid credit cards not attached to your bank account— This way you can dispute any errant charges before your hard-earned money disappears. Plus, you can track purchases with your trusty receipt.
As always, check with the BBBfirst, especially if something seems off. They keep track of thousands of online and brick-&-mortar retailers, and can tell you if a business has a reputation for service or scams.
