60% Off Black Friday: Is It Really a “Great Deal”?

Generalized fever of consumerism. This is what the well-known “Black Friday” generates for many residents of our country. This consumer event will take place on November 29, a day when thousands of Spaniards will be able to take advantage of big discounts that even exceed 70% to buy their favorite products or Christmas gifts at a lower price than usual.

Many people think that it is almost impossible to resist such discounts. And this is what Almost eight in ten Spaniards (76%) will be tempted by Black Friday deals this year.making a purchase, according to the Organization of Consumers and Users (OCU). Likewise, the average expected spend is €201, although 15% of those planning to spend plan to buy €500 or more during this campaign. However, cheap can be expensive as Black Friday isn’t always synonymous with sales. So much so that This organization notes that in 2023, only 14% of products fell in price, and 36% increased in price.

For its part, the BBVA blog “My Retirement” also wanted to warn those who decide to make a purchase on this day, ensuring that A product that’s marked down by 60% or 70% doesn’t have to be a “bargain” or a “bargain.”. Consumers often look at this percentage when making purchasing decisions, rather than considering the starting price or whether the final product is “truly competitive” in quality. This is what is known as armature displacement and many selling websites or apps are based on it.

Interest binds consumers to the price or characteristics of a product “until make it the basis of the rest of the reasoning we do“even if it was not connected at all or was given without any criteria,” the banking institution says. To avoid this bias, Compare the offers you find with prices for the same products on other portals. or online sales site.

The anchor displacement also occurs with the difference in price a person is willing to pay depending on how the product is presented to him or where you are going to buy it. For example, you go to an optician to buy sunglasses and they offer two options with similar characteristics: one for 100 euros and the other for 200. However, these second glasses are 50% off, so their final price is 100 euros. . Given this context, it is highly likely that a consumer will buy discounted glasses even if they cost the same as other glasses. ” 200 euros is the price that will serve as an anchor and determine our decision.“, they say.