Black Friday shoppers are being warned not to fall for dud deals - with money experts revealing some of the worst fake bargains from last year.
Comparison website PriceSpy has shared examples of “pricewashing” - which is where a retailer gradually increases the price of a product, before suddenly dropping it and advertising a discount based on the highest previous price. This is also known as “rollercoaster pricing”.
PriceSpy tracked products that increased in price between October 1 last year and the Sunday before Black Friday, which would have been November 20, 2022. One in 10 (10%) of products on Black Friday 2022 were pricewashed, according to PriceSpy.
Some specific examples include the Apple iPad 10.2” 64GB which was found to have risen in price from £299 to £319 on October 22 last, and continued increasing in price before dropping to £309 on Black Friday. Giorgio Armani Sí EDP 50ml rose in price from £57.86 to £68.06 on November 16 before dropping back to £57.89 on Black Friday.
It is down to individual retailers how much they charge for products, rather than the manufacturers who make them. You can find more examples of pricewashed products below.
PriceSpy found 25% of products were more expensive on Black Friday last year than they were at the start of November. Two weeks after Black Friday, 20% of products were cheaper than they were on Black Friday. However, PriceSpy the number of products pricewashed in 2022 was slightly down compared to 2021, when 14% of products were found to be a fake deal.
Black Friday is set to take place on November 25 this year, although some retailers have already launched their sales. We've got tips on how to save money here.
Liisa Matinvesi-Bassett, UK country manager at PriceSpy, said: “Pricewashing is a way that retailers make offers appear better than they really are. It won’t always be a deliberate tactic, however the fact that we often see prices gradually creeping up during October and the early weeks of November is an indication of planned price drops to come.”
“Whilst Black Friday is a great day to snap up bargains, not every item will be at its best price. Shoppers should always remember to do a quick price comparison to see which retailer is selling for the lowest price, and ideally also check an item’s price history to see if the item has been cheaper before. If it has, chances are that you’ll find it for that price again in the future.”
Black Friday 2022 'pricewashed' products
Masterbuilt Gravity Series 1050 cost £749 on Black Friday, compared to £649 at the start of October
Fitbit Charge 5 ended up being on sale for £99.99 on Black Friday, compared to £80 at the start of October
Garmin Instinct Solar cost £179 on Black Friday, compared to £144.99 in mid-October
Apple iPad 10.2” 64GB rose in price from £299 to £319 on October 22 and continued increasing in price before dropping to £309 on Black Friday
Hoka Arahi 6 rose in price from £90 on October 13 to a peak of £117, before dropping to £104 on Black Friday
Keter Store It Out Max Shed 1200L rose in price from £150 to £190 on October 26 and then dropped back to £150 on Black Friday
Giorgio Armani Sí EDP 50ml rose in price from £57.86 to £68.06 on November 16 before dropping back to £57.89 on Black Friday
Asics Gel Kayano 29 rose in price from £80.21 to £113.68 on November 11 and dropped back to £82 on Black Friday