Black Friday and the festive season make up the biggest shopping season of the year, with an extensive range of great deals and discounts for SA consumers. By being smart with your money and the way you shop, you can stretch your budget and gain even more value during this years’ ‘sale season’. ‘Getting the most value during Black Friday and the festive season is all about careful planning, smart spending, and using the right resources to maximise bang for your buck,’ says Buli Ndlovu, Executive Head of Retail and Business Banking Marketing at Nedbank.
‘This sales season, smart shopping is about more than finding deals; it’s about making each purchase work harder to deliver maximum value to you,’ Ndlovu explains. ‘With careful planning and a strategic approach to spending, you can enjoy the season without straining your budget.’
Ndlovu offers five smart tips to get the most out of your money in the coming months:
- Maximise the benefits your bank cards offer. Most debit and credit cards come with built-in perks that can elevate your holiday shopping experience. Many cards offer cashback rewards on purchases, particularly in high-demand categories like electronics or dining. Cardholders also have access to loyalty and rewards programmes, letting you accumulate points that can be redeemed across a wide variety of categories, from travel to everyday shopping.
- Use rewards programmes wisely. If you’re part of a rewards programme, now is the time to maximise its benefits. Look out for bonus or double-points days, or seasonal discounts that can enhance your savings, and consider redeeming your points to lower the cash you have to fork out for holiday gifts or essentials. Many programmes offer higher point accrual or cashback bonuses during holiday seasons, especially at select retailers.
- Look for more than just low prices. Online shopping platforms are invaluable during Black Friday and the festive season, offering more than just access to discounted items. To truly maximise your savings, look for added-value features that go beyond low prices. Some platforms offer bundled deals, where you can buy complementary items together at a reduced rate. Certain online shopping platforms provide options for extended warranties, purchase protection, and exclusive discounts for members. ‘Ndlovu explains, ‘meaning you can redeem points for extra savings directly through the app.’
- Use secure payment options. Shopping online during the holidays offers convenience, but it can also present some risks. One of the best ways to protect your financial information is by using virtual cards, that allows you to create a digital card, linked to your main credit card account, and set spend limits and a unique expiry date. This ensures that your main account details remain safe, even if there’s a security breach. Many banking apps allow users to set up transaction alerts, adding an extra layer of protection by notifying you of each purchase in real-time.
- Stick to reputable retailers and be aware of scams. Sales season sees a spike in scams, with fraudulent websites and phishing schemes often targeting online shoppers. Always check the URL of any site before entering payment details and be wary of deals that seem too good to be true. Stick to well-known, reputable online retailers and shopping apps, and always use secure payment gateways. And remember, if a deal seems way too good to be true, chances are it is.
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