As Black Friday approaches, the Organisation of Consumers and Users (OCU) has issued guidance to help consumers avoid misleading discounts and scams. The OCU advises consumers to start tracking product prices well in advance to verify the legitimacy of discounts. By recording current prices, shoppers can better identify genuine savings on 29 November, as many advertised “discounts” may not be based on the lowest price from the preceding 30 days, contrary to regulatory standards.
A recent OCU analysis of over 18,000 product prices from 63 popular electronics and appliance websites revealed that only 14% of items showed actual price reductions on Black Friday 2023, while 36% of items saw price increases. Surprisingly, the majority of items promoted as “Black Friday deals” remained at the same price as before, even though regulations require businesses to clearly display the previous 30-day lowest price alongside any discount.
The OCU has raised concerns with Spain’s Ministry of Social Rights, Consumer Affairs, and Agenda 2030, highlighting that many online retailers calculate discounts based on a prior price that may not reflect the lowest cost in the last month. This tactic, which flouts consumer protection laws, can mislead shoppers into believing they’re receiving a better deal than they actually are. OCU has called for strict enforcement and, if necessary, “exemplary penalties” against non-compliant businesses to prevent such deceptive practices.
Consumer trust in Black Friday promotions has been waning; last year, an OCU survey found that 67% of respondents suspected some retailers artificially inflated prices before Black Friday, enabling them to claim significant discounts that merely restored prices to their original levels. Furthermore, 38% of those surveyed observed that many Black Friday prices were similar to or even higher than prices during non-promotional periods. Nonetheless, 71% of consumers still consider Black Friday worth participating in due to the potential for genuine deals.
In light of these findings, the OCU urges consumers to be vigilant, track prices in advance, and look for transparent pricing to make the most of Black Friday without falling victim to misleading promotions.
