Is Black Friday Still Worth It? The Reality Behind the Discounts

As the holiday season approaches, the anticipation for Black Friday, one of the most significant shopping events of the year, is building up. However, a closer look at the trends and consumer behavior raises an important question: are the discounts on Black Friday as enticing as they seem?

The Origins and Evolution of Black Friday

Black Friday, originating in the United States, is traditionally celebrated on the last Friday of November, following Thanksgiving. The event was named for the practice of using black ink to record profits, as opposed to red ink for losses. Over the years, it has evolved into a global phenomenon, with many countries, including Spain, embracing the concept of deep discounts and extended shopping periods.

The Current State of Black Friday Discounts

This year, Black Friday falls on November 29, but the shopping frenzy is no longer confined to a single day. In Spain, discounts are available from November 29 to December 2, with some retailers starting their promotions even earlier, from the last Monday of November[1][3][5].

However, a recent analysis suggests that the actual discounts might not be as substantial as they appear. Some retailers have been accused of inflating prices before Black Friday to make the subsequent discounts seem more attractive. This practice can lead consumers to believe they are getting better deals than they actually are[1].

Consumer Behavior and Shopping Trends

Despite the potential for inflated prices, consumer enthusiasm for Black Friday remains high. In Spain, for instance, 61% of consumers plan to make additional purchases during this period, with a significant portion of these sales expected to occur online. Mobile shopping is on the rise, with nearly half of Western consumers using their mobile devices to browse and shop during Black Friday[3].

The OBS Business School report for 2024 indicates that average discounts will be around 30% for home appliances, 38% for clothing, 34% for beauty and health products, and 24% for sportswear and footwear. However, these figures may not reflect the true savings when considering pre-inflated prices[3].

Economic Impact and Job Creation

While the discounts might be less substantial than advertised, Black Friday still has a significant economic impact. In Spain, the event is expected to generate 117,000 temporary contracts, an 18.2% increase from the previous year. The majority of these contracts will be in the transport and logistics sector, with a notable increase in job creation in this area[1].

Tips for Savvy Shoppers

To make the most of Black Friday, consumers need to be savvy. Here are a few key recommendations:

• Make a Wish List: Before the sales begin, compile a list of the products you genuinely need or want to avoid impulse purchases.
• Set a Budget: Establish a maximum spending limit and compare prices before and during the sales to ensure you're getting a genuine discount.
• Subscribe to Newsletters: Many brands offer exclusive deals to their newsletter subscribers, giving them early access to promotions[1].

Hotel and Travel Deals

For those looking to combine shopping with travel, Black Friday offers some compelling hotel deals. The Barceló Hotel Group and Petit Palace Hotels are among those offering significant discounts. Barceló's Black Friday deals include up to 55% off at hotels in various destinations such as Madrid, Barcelona, and the Canary Islands. Similarly, Petit Palace Hotels are offering up to 40% off, especially for members of their loyalty program[2][4].

In conclusion, while the allure of Black Friday remains strong, it is crucial for consumers to approach these sales with a critical eye. By understanding the potential for inflated prices and following smart shopping strategies, expats in Spain can still find genuine value in the discounts offered during this major shopping event.