Consumer NZ Warns: Don’t Fall For Black Friday FOMO

As Black Friday marketing efforts ramp up, Consumer NZ warns shoppers to be on high alert and not assume that every special is special.

“When Christmas is coming, and you’re already feeling financially squeezed, it can be really tempting to give in to all the hype, but quite often, that’s all it is – hype,” says Abby Damen, Consumer’s communications and campaigns adviser.

“Look out for pressure tactics often used online – such as, countdown timers and subscription traps or claims like ‘only one left!’ and ‘don’t miss out’.

"There’s likely more than one in stock, and you’re probably not going to miss out.

“These are intentional sales strategies designed to overwhelm, confuse and convince you to make a purchase you might not otherwise make,” says Damen.

“Pressure tactics can be incredibly effective at triggering FOMO, making you part with your money.”

An OECD survey¹ published in October 2024 found nine out of ten consumers have been affected by 'dark commercial patterns'. These manipulative tactics influence consumer behaviour, and lead consumers to make choices that may not be in their best interests.

A recent PriceMe survey² found one in four of those surveyed plan to use Buy Now, Pay Later services for their Black Friday purchases. However, Damen warns shoppers to think carefully before signing up to these payment plans.

“The temptation, particularly at this time of year is understandable, but if you start missing payments, you’ll have to cough up default fees too.

“Get clear on what you want, what you need, pause and do your research using tools like PriceMe or PriceSpy to make sure that bargain you’re eyeing up is a genuine opportunity for you to save.”

¹OECD Survey October 2024
²PriceMe Survey October 2024

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