Euronews Business delves into the alarming rise in Black Friday scams and offers helpful strategies for shoppers to safeguard themselves during this high-stakes shopping season.
The frequency of scams surrounding Black Friday has surged over recent years due to a remarkable increase in retailers and websites vying for attention with substantial discounts. As consumers face rising living costs, elevated interest rates, and widespread uncertainty in the global landscape, many are becoming increasingly wary of splurging on larger purchases.
The current economic climate has led to an uptick in aggressive discounting strategies as brands look to attract budget-conscious shoppers, particularly during the crucial fourth quarter, known as the golden quarter, which includes Black Friday and Cyber Monday sales.
A study from Bitdefender Antispam Lab reveals a shocking statistic: three out of four Black Friday spam emails are scams, with Europe accounting for nearly 44% of global Black Friday-themed spam. Furthermore, the wellbeing charity Caba indicates that millennials and Gen Z are three times more likely to fall victim to online shopping fraud compared to baby boomers.
Scammers use a multitude of deceptive tactics, including phishing emails, counterfeit websites, misleading social media ads, false search engine links, and fraudulent delivery notifications, to execute their schemes.
Why are Black Friday Scams on the Rise?
One key factor contributing to the escalation of Black Friday scams is the increasing availability of affordable scamming tools on the dark web. Cybersecurity expert Adrianus Warmenhoven notes that phishing kits are often free, with fake website templates starting around $50 (€47.40). Malware-as-a-service subscriptions can cost about $150 (€142.45) per month, while advanced tools, like cookie grabber pages, can start at $400 (€379.24) or even higher, often with discounts available.
The proliferation of inexpensive internet access globally, in addition to advancements in technology and scamming techniques, has made it easier for fraudsters to successfully trick unsuspecting shoppers.
Scammers frequently mimic major platforms, including PayPal, Amazon, and Netflix, to exploit customers. The kits for creating fake shop pages boast features that provide customization options, HTML coding capabilities, and anti-bot systems that are designed to circumvent detection.
Moreover, growth in artificial intelligence (AI) technology has allowed scammers to design increasingly convincing fraudulent sites that closely replicate the look of legitimate brands, making it harder for consumers to discern the fakes.
The rise in environmentally conscious shoppers has also opened another avenue for deception, where dishonest brands falsely claim their products are sustainably sourced or green. Such misleading assertions can often result in increased sales since consumers may struggle to verify the authenticity of these claims.
Lastly, popular shopping platforms like Temu and Shein have recently faced scrutiny for artificially inflating their discount offers, which has also contributed to the wave of deceit surrounding Black Friday bargains. The European Union has even investigated Temu for consumer protection violations, to which they responded by assuring compliance with local regulations.
How Can Shoppers Protect Themselves from Black Friday Scams?
Shoppers should exercise caution regarding deals that appear too good to be true and take extra time to research products and sellers. Investigating the legitimacy of discounts can significantly help avoid being scammed.
When encountering steep discounts, it’s wise to verify the website’s URL and consider purchasing directly from well-known retailers rather than through third-party sites. Consumers should be skeptical of links from newly established websites and examine a site’s domain age to gauge reliability.
Additionally, scammers may employ fake celebrity endorsements to lend credibility to their products, making it crucial for shoppers to double-check these endorsements across multiple sources.
Be mindful of time-sensitive offers, such as countdown timers, which can pressure shoppers into making quick decisions without thoroughly vetting the products or store authenticity. Scammers often use these tactics to create a false sense of urgency.
Using credit cards offers an added layer of security against fraud compared to cash on delivery or debit card transactions, as credit cards generally have multiple fraud protection features.
Setting a shopping list ahead of time can also curb impulse spending and help shoppers remain focused on their needs rather than succumbing to attractive deals. This extends to promotional offers that encourage bulk purchases, which can cloud judgement about product quality.
Charlotte Lumbroso-Baumgartner, CEO of Voucherbox, emphasizes the importance of having a structured plan and a keen eye during sales events. By planning ahead, staying informed, and prioritizing necessary items, shoppers are better equipped to navigate the sales landscape without succumbing to overspending traps.
Ultimately, a deal is only advantageous if it genuinely meets a consumer’s needs and falls within budget. Therefore, adopting an intentional, rather than impulsive, approach is paramount to maximizing savings during this bustling shopping season.
Photo credit & article inspired by: Euronews
