Like every last Friday of November, even for practically the entire month, thousands of Dominicans prepare to make purchases of electrical appliances, clothing, footwear or technological items in the celebration of Black Friday (Black Friday, in English). An activity of American origin that has boosted, since 2012, the sales of both physical and “online” local businesses with attractive offers.
Data from the Central Bank show its high acceptance. In 2021, during this season’s offers, specifically on November 25 and 28, Dominicans made purchases with credit and debit cards for an amount of RD$8,404.5 million, 20% more than in 2019, prior to the pandemic. of covid-19, when the amount in consumption was RD$6,997.4 million.
However, this activity, which reactivates Dominican commerce due to the attractive offers and discounts on its products and services, could be detrimental to your personal economy if you do not do it with the utmost caution. Financial experts agree that this date, for many, is the door to excessive debt.
Compulsive purchases and lack of planning are the main reasons why your wallet is affected. Hence the importance of anticipating Black Friday by monitoring and comparing prices before and during this season’s sales.
At this point, ask yourself if what you are going to buy, even if it is “at a good price” or on sale, is really necessary for you and, above all, if it does not exceed your ability to pay. Having these clear points will allow you to make better decisions.
If you have debts it is not advisable to invest your savings in purchases of goods or services during Black Friday. Don’t forget that Christmas and New Year’s shopping is yet to come. The rise in prices of various products in the basic basket, the electric bill and other services in 2022 have already strained the finances of many Dominican households; so starting 2023 over in debt is not a good idea.
On the other hand, if your economy allows you to take advantage of the discounts for this activity, consider making a list of the offers you want to take advantage of, do not rush, look at the incentives offered by each store, do not get carried away with emotion, do not carry lots of cards or cash.
In this commercial activity, the so-called “misleading advertising” also tends to occur, where many businesses take the opportunity to make false offers.
Faced with this dishonest practice, the National Institute for the Protection of Consumer Rights (ProConsumidor) warns the country’s shopping centers to have visible prices and avoid debits that have not been previously indicated in the offer.
Customers should also be vigilant, check current prices and compare them with so-called deals, to see if they are actually discounted. Verify that the item on sale is in stock and that it has the same characteristics as advertised.
- Confirm prices. The ideal is to monitor prices before Black Friday to find out if the cost of that product or service really dropped.
- Prioritize. Don’t let your eyes fill up, because cheap things are often expensive in your pocket. Just buy what you need.
- Don’t borrow It is not advisable to buy this season with your credit card or take financing, unless you have the ability to pay.
- Check the quality. Make sure the state of the products, because some stores take the opportunity to sell damaged items.
- Take advantage of opportunities. If you are looking for a specific product and have the money, then take advantage of the best offer.
- Don’t buy more. If you do not need that service or product on sale, do not buy it, even if it is discounted.
- Look for warranty. Take into account not only the cost, but also the guarantee offered by the store and the possibility of returns for damage.