Guide: How to shop smarter on "Black Friday"

Today (Friday) marks "Black Friday," and with it comes a wave of consumers flooding online shopping sites. Ahead of the event, a comprehensive survey was conducted, revealing interesting insights into the consumption habits of Israelis. According to the survey, conducted by "RiseUp," a household budgeting company, with over 4,000 respondents, about 60% of participants reported that, a week before Black Friday, they were already thinking about the upcoming discounts.

The leading category in planned purchases for Black Friday is clothing (47%), followed by electronics (25.5%) and cosmetics (6.4%). This data reflects Israeli consumers’ preferences, with the majority focusing on personal and household products.

In terms of budget allocation, the survey reveals a wide range of spending intentions. About a quarter of respondents plan to spend up to NIS 500, and a similar percentage plans to spend up to NIS 1,000. Approximately 18.5% are considering spending between NIS 1,000 and NIS 3,000, while only about 7% intend to spend more than NIS 3,000. Another 27% of respondents have not yet planned their shopping budget.

Regarding financial awareness, an interesting finding in the survey is that nearly half of respondents (49%) stated that their cash flow reflects their financial situation but does not directly affect their purchasing decisions. In contrast, 51% indicated that their cash flow serves as their guiding compass. This raises questions about the noise and promotions of November, which cause Israeli consumers to become dazzled and abandon their budgeting for the month. On one hand, there is awareness and acknowledgment of personal financial situations, but on the other hand, many do not allow their financial situation to influence their desires in light of the sales.

"Despite growing awareness of the importance of financial management, aggressive marketing culture and common societal perceptions sometimes make it difficult for consumers to maintain a balance between their economic understanding and actual behavior," says Tomer Varon, RiseUp’s financial advisor. "In such months, it is especially important to develop practical skills like saving and matching expenses to income, to support more informed decision-making that aligns with personal financial conditions and contribute to long-term financial well-being."

RiseUp offers several pieces of advice for smart shopping during the month of sales and dazzling offers.

Avoid Browsing and Don’t Get Dazzled

"If you needed something, you probably already bought it," says Varon. "And if you were really just waiting for one of the sales, it’s better to be calculated—enter the website, add what you need to the cart, and leave. Avoid browsing. This saves you from unnecessary noise from promotions that will likely cause you to buy things you don’t really need."

"Don’t be too dazzled by a price drop," he continues. "Sometimes it’s a marketing tactic during a big sale day, where in reality, the price you pay is nearly the same as the original selling price. What can you do? Add what you wanted to buy to the cart and wait for the sale day. This allows you to check later if the price has indeed dropped and by how much, and also helps avoid the noise of pop-up promotions on your screen."Varon also mentions a few more points for smart financial management on Black Friday:

• "Shopping? Do a quick search on other sites and see if the price is really worth it."

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• "Don’t buy from unfamiliar or suspicious websites. It’s recommended to check that the website is reputable, with positive reviews from other users. Look for HTTPS in the browser address bar before the website name and WWW to ensure the site is secure. Another tip is to avoid public Wi-Fi when making purchases online, and use intermediary services like PayPal, Google Pay, or Apple Pay, which do not expose your credit card details to the shopping site."

• "Don’t split payments because you bought too much. Payment installments mean you’re taking this consumer holiday forward for several months as commitments. The end of the calendar year and Hanukkah will soon be here, followed by Passover—there will always be something. Buy within your means without overextending."

• "Credit card companies charge a conversion fee for every purchase made in foreign currency. This is when you buy something in a foreign currency but pay in NIS, so there’s a conversion fee you should know how to reduce. This could apply to purchases on Amazon or iHerb, flight bookings, and even spending abroad. It happens in both small and large purchases, and this fee can increase the purchase by 3%. For example, the speaker you bought on Amazon for $100 will actually cost you $103. Some credit cards offer conversion fees of 1% or even less, so choosing the right credit card can save you money."

"In the past year, many Israeli businesses have been affected by the war," conclude RiseUp. "Therefore, during your shopping this month, try to purchase from Israeli businesses."