Black Friday bargains will be the best-ever as ‘Brexit Boost’ could see prices cut by 60 per cent
THIS year's Black Friday deals are set to be the best EVER - with discounts reaching as much as 60 per cent off thanks to Brexit.
Following the Brexit vote shoppers have become used to snapping up items at bargain prices, as shops instantly dropped prices on thousands of lines over fears shoppers would tighten their purse strings.
With many items already heavily reduced in price, shops battling for buyers' attention around Black Friday will have to slash prices even lower than last year, according to discount website .
Price analysis of millions of items showed 18 per cent of items were on sale in shops the week before the vote, rising by nearly 50 per cent to 26 per cent the following week, reports the .
As well as more items going on sale, the average discount also increased by around eight per cent in the week after Brexit.
This year it's expected Brits will splurge around £2.3million a MINUTE while bargain hunting this Friday - up around a fifth on last year's total.
Many retailers however couldn't even wait to slash their prices this year, with Amazon, Morrisons and Eurostar just some of those who kicked off their sales early.
Mark Solomon, founder of LovetheSales.com, told the paper: "Post Brexit uncertainty has resulted in increased competition between retailers, reflected by more aggressive discounting of inventory. If this trend continues, this Black Friday weekend will be the biggest ever."
A spokesman for the website added that as Black Friday shoppers usually expect discounts of at least 20 per cent from their previous price, retailers would be forced to further discount items – which already have 40 per cent off – to 60 per cent of the original price.
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Those hoping to bag a bargain on fashion, beauty and sporting equipment may face disappointment though, as these types of products have bucked the general trend and had small increases in price since Brexit.
Experts claim that while the number of shops holding sales typically rises at the end of June, as retailers look to clear out their cupboards ready for autumn and winter goods to come in, and returns to normal within three weeks - this year it hasn't.
Instead sales continued until mid-September and even then didn't return to normal levels.
But ahead of the bonanza later this week shoppers were warned to spend carefully after it emerged that half of last year's Black Friday deals were bogus.
A study published by Which? found that 49 per cent of products "on offer" were cheaper in the months before or after Black Friday.
Alex Neill, managing director of home and legal at Which? said: “As Black Friday and Cyber Monday approach, it’s important to do your research so you know your shopping rights before you buy, just in case you change your mind.”
In light of the revelation that nearly one million cyber-attacks will hit UK shoppers EVERY DAY in the busy shopping days leading up to Christmas, it is important that everyone is on their guard.
It is thought that those buying electronic items including mobile technology and computer equipment will be targeted.
How to avoid online fraud
-Firstly, remember that if something seems too good to be true, it normally is
-If you like to interact with brands on social media, check they are “verified”. On Facebook and Twitter pages, this means the company will have a blue tick on their profile
-As a general rule, verified status means the account should be legitimate
-Look for grammatical and spelling errors; fraudsters are notoriously bad at writing proper English
-If you receive a message from a “friend” informing you of a freebie, consider whether it’s written in your friend’s normal style
-If you’re invited to click on an URL, hover over the link to see the address it will take you to – does it look genuine?
-To be on the really safe side, don’t click on unsolicited links in messages, even if they appear to come from a trusted contact
-Be careful when opening email attachments too. Fraudsters are increasingly attaching files, usually PDFs or spreadsheets, which contain dangerous malware
-If you receive a suspicious message then report it to the company it came from, block the sender and delete it
Tom Church from deal sharing community said: “This is the biggest time of the year for online fraud.
“Shoppers can stay safe by buying products from the brand’s own shop, or direct from an official retailer.
“Where possible, try to avoid third-party sellers and use a credit card.”
During the same period last year there were around 30 million attacks and experts predict that this year that figure will rise to 50 million.
Credit experts Experian are also calling for people to take extra care of their personal information on Black Friday when Christmas shopping, offering six tips on how to protect yourself from fraudsters.
1. Password protect: Don’t take shortcuts with your online security because you’re in a hurry to tick off everything on your Christmas list. For example, if you sign up to a few new online stores you’ve not shopped with previously, make sure you’re not using the same password.
2. Shop safely: While it can be tempting to purchase gifts from sites you are unfamiliar with – especially when they’re reduced in price – Christmas is not the time to throw caution to the wind in the interest of bagging a quick bargain. Keep in mind the adage “If it sounds too good to be true it usually is,” and don’t take the risk.
3. Be smart with social: Christmas is a time for sharing, but as open as you may like to be on your social profiles, remember that often the information you share is in the public domain and could be easily traceable.
4. Check your credit report: Should personal information fall into the wrong hands, it’s good to know where those details go. Checking your credit report regularly can help you quickly identify credit applications made under false pretences.
5. Shred to prevent: We consume a lot over the festive period, and for many of us there can be an unwieldy amount of rubbish and recycling to contend with. Remember that the threat of physical identity theft is as real as the threat of online identity theft, so be sure to continue good recycling habits over Christmas.
6. Think like a thief: Take a minute to think about the information you are required to provide to complete a credit application. That’s your name, address, date of birth, place of work. Now think about where people can find that information about you.
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