Be careful on Black Friday

Die Vryburger

Be careful on Black Friday
Be careful on Black Friday - Image - Die Vryburger

US retailers started “Black Friday” when they wanted to replace their overdraft bank accounts with black figures to show a favorable balance.

To do this, the idea was established to adjust prices of “unsold stock” to convert the bank statement to black figures and thereby get rid of stocks that they could not sell.

Black Friday has also launched in South Africa, but experts warn that it’s not always beneficial to go for a bargain on a special day.

Statistics show that traders lower the bulk of the prices of unsold stock to cost in hopes of getting back their money paid for.

The interesting thing is, however, that retailers will a day or two after Black Friday, mark down the prices of the old stock that did not sell, even further.

It is therefore beneficial to visit the shops after Black Friday – you may be lucky enough to really pick up a bargain.

Nevertheless be careful. Not all stocks are marked down – these are only the prices of unsold goods that are marked down.

There are traders who make use of the opportunity to adjust the stock that is in demand daily throughout the year, to adjust prices upwards to recoup some of the profit lost on old stock.

The saving consumer, however, buys something else – they do not buy what they need, they buy which they cannot do without.

Read the original article in Afrikaans on Die Vryburger

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