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You probably have to live under a rock not to realize that the last week of November is Black Week, an extension of the Black Friday deals, which has become an annual tradition at the trade booth.
Many people have enough plans to make a bargain this week, especially when shopping online, but experts warn against one particular pitfall.
Half payment by credit card
According to a survey YouGov conducted for Danske Bank, half of Black Week retailers plan to make purchases with credit cards. Four out of ten of these report again that they do not pay the credit card bill on the first due date.
These figures make consumer experts react.
– I am not surprised that one in two operate with credit cards, but I am worried that there are so many that they do not return the money immediately, says the consumer economist Cecilie Tvetenstrand to TV 2.
He is concerned about the increasing defaults of Norwegians on consumer loans and credit card debt.
Warns against installment purchases
Another survey, conducted by Netigate for Storebrand, shows that one in five plans to purchase products on installment on Black Friday.
Although buying with a credit card does not have to be negative in itself, the consumer expert cautions against letting payments be made in installments. Because while an offer to pay a lower monthly rate may seem tempting, you end up paying a much higher price.
Interest rates on credit cards are usually above 20 percent, and then the total price of a bargain will quickly increase by several thousand crowns.
– I would warn you not to spend money you don’t have. It takes forever to pay back money that you should never have used in the first place, and the item can be much more expensive if purchased on credit.says Dreams Storebrand savings app country manager Øystein Høie on TV 2.
Norwegians fear Black Friday infection
According to a survey conducted by Opinion for Prisjakt.no, eight out of ten Norwegians are concerned about corona infection in shops and malls on Black Friday.
Although 200,000 more Norwegians plan to shop on Black Friday than last year, the majority of them are expected to shop online.
– The crown, the risk of infection and the restrictions make many people reluctant to visit physical stores and shopping centers this year and, instead, stay at home with their credit card in front of a computer screen and a telephone mobile this year, the survey shows.
It is clear that this fear, in addition to the everyday life we live in, will hit physical stores hard in this important business week, says general manager Are Vittersø at PriceSpy Norway in a press release.
