Black Friday is just around the corner, so today we’re discussing this chaotic day and how to separate real deals from scams. After all, are Black Friday purchases really worth it?

Why it’s called Black Friday

The term “Black Friday” hasn’t always been associated with the shopping craze. Back in September 1869, the price of gold collapsed and went down in history under this name.

A century later, in the 1960s, police officers in Philadelphia started using the term for the day after Thanksgiving, when people began their holiday shopping. The large crowds were a headache for the police, causing them to work longer shifts than usual and tackle traffic jams, accidents, shop theft, etc. Later in the 1980s, retailers began reframing it in a more positive sense, associating Black Friday with profitable sales.

Black Friday frenzy has been joined by Cyber Monday and China’s Singles’ Day or 11/11, turning November into a full month of deals. In Armenia, both large malls and small stores have been participating in Black Friday sales over the past few years, introducing special offers for products and services.

Let’s talk numbers

According to a 2024 study by Hostinger, 82% of surveyed consumers planned to shop specifically on Black Friday, which indicates high expectations for good deals.

Adobe Analytics reported that online shopping reached $10.8 billion in the U.S. on Black Friday 2024: that’s a 10.2% increase from 2023. On Cyber Monday, $991.2 million in purchases came solely from Buy Now, Pay Later transactions.

Mastercard SpendingPulse noted a 14.6% rise in online Black Friday sales in 2024, while in-store sales grew by 0.7% compared to the previous year. Jewelry, electronics, and clothing continue to be top holiday gift categories.

As for Armenia, Black Friday transactions made through cash registers totaled 11.026 billion AMD on November 29, 2024, with more than two million receipts printed.

My black heart vs. your Black Friday

Behind these impressive numbers lies a dark side: as online shopping grows, so do fake deals. Phishing remains one of the most widespread forms of cybercrime, according to data from Kaspersky. Wild deals circulating through suspicious social media posts, websites, and emails often lure shoppers into a trap.

Fake discounts exist in physical stores, too. Tigran Markosyan, a member of the Competition Protection Commission, told Sputnik Armenia about cases where retailers artificially increased prices and then presented the products as discounted.

So, avoiding deception is harder than it seems.

How to resist the “incredible” deals

Plan in advance and track the price changes

If you create a wish list beforehand, you can follow price changes over time and later see if there are any real discounts on Black Friday. The earlier you start doing that, the better. You might make use of websites that help you access price histories. Note that rushed and impulsive purchases can end up being unnecessary or even put you in a difficult situation.

Before rushing to grab that 70% off deal, compare prices across different online and offline stores. You may discover that the discount is really just a marketing trick rather than a real bargain.

Beware of fraud

Have you ever seen a listing for a house, car, or something else, and found out it doesn’t actually exist when you contact the seller? Many products advertised on Black Friday don’t exist, either. In this case, the safest response is doing nothing: never enter your personal information on suspicious sites. On such sites, fake offers often appear in the form of “gifts” that require you to complete some action to claim them. Those websites typically spread through emails and social media posts, so it’s always worth checking out the sender or the source.

To ensure a website is safe, pay attention to its domain, transparency of information (delivery terms, customer reviews, etc.), as well as the checkout page. If you fall for a scam, you risk losing money and having your personal data exposed.

Black Friday with EasyPay

Enough of the bad stuff; let’s talk about something positive. At EasyPay, we have offers that go beyond Black Friday.

easywallet welcomes new users: make your first payment in easywallet and get a 2500-dram welcome bonus.

If you make car-related payments, know that a car is not an expense, but an opportunity. By making any payment through EasyGarage in easywallet, you can win one of 10 prizes worth 200,000 AMD each.

━━━━

We hope this guide helps you avoid deceptive discounts and make purchases that are truly worth it.

_{The company is not responsible for the accuracy of content available through links to other websites placed on   www.easypay.am, nor for any outcomes resulting from the use of such content.}