Cheap Today, Costly Tomorrow: The Dark Side of Black Friday Buying (Plus Upcoming Buyers' Guide)
One of the busiest shopping days of the year. Also one of the riskiest for business buys.
The ads started coming in over the weekend. I can’t say I was surprised, but it always frustrates me. Consumerism has taken over much of the holiday, and it doesn’t do us any favors. The desire to chase the latest and greatest deals doesn’t end with the holidays; I wrote a post last month about Amazon Prime Days.
We are only days away from the biggest shopping weekend of the year; between Black Friday, Cyber Monday, and Small Business Saturday, Americans are set to spend tens of billions of dollars in a matter of a few days.
Unfortunately, these purchases lead to overspending and the purchase of unnecessary items. Many of the items on discount are generic or not the exact product that many consumers are ultimately seeking. These generic products do not always provide the same quality or life as their brand-name counterparts.
During this time, many businesses may purchase retail products rather than enterprise-ready ones, ranging from software to hardware. Retail products are typically not designed to the same quality standards as enterprise products and wear out early or start acting erratically, potentially impacting usability or data access. Similarly, they typically have lower security standards, and many retail products share more user data with manufacturers than enterprise products.
Last month, I highlighted the key items to focus on when making a purchase. quick summary of the key points from our Amazon Prime Days post:
Don’t Buy for the Sake of a “Deal”
Most of the “Deals” Are Retail
The Tax Deduction is Only Worth It if Needed
Pushing Generic Products
Is it Really Discounted?
On Wednesday, November 26, we will launch a post for you to ask about products or deals that you may locate during any of the sales that weekend. We will assist you in evaluating the quality of each product and its security. Come here first, before buying, and save yourself a lot of hassle and needless spending. Hope to see you then!
Obviously, make the best choice for yourself and your company, but anytime something seems too good to be true, it probably is. You are more than likely better off creating a list of essential items you need and monitoring those specific items for reduced pricing.
If you do not fully understand an issue or need assistance resolving it, the team here at Financial Guardians is available for Individual Support Calls to address any individual or specific matters.
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