Considered as one of the pinnacle moments in the yearly sales cycle, Black Friday is an annual shopping event that takes place the day after Thanksgiving in the United States, which is always the fourth Thursday of November. It marks the beginning of the holiday shopping season and is famous for massive sales and discounts offered by retailers both in-store and online. Despite having its origins in the United States, such an event has quickly gained momentum across Europe. Astonishingly, 60% of consumers in Europe admit to waiting for Black Friday to check out their baskets.
However, retailers and consumers alike must be aware of their rights and obligations at law, Moreover, issues such as data breaches and cyber fraud are more likely to occur in such prime times as consumers share more personal information and credit card details online to benefit from all types of promotions .
IP Infringements and Counterfeit Goods
With limited-time offers, countdowns, exclusive editions, and dwindling stock, Black Friday deals are often highly time-sensitive, pressuring shoppers to make quick purchases. In the rush, consumers are more likely to overlook signs of counterfeit products and make less cautious purchase decisions. The sheer volume of Black Friday marketing creates an environment where deceptive actors can slip in, promoting counterfeit and infringing products alongside genuine offers.
The drive for discounts fuels the presence of grey market goods—genuine branded items resold at discounted prices by unauthorized sellers, who exploit brand value and sow confusion among consumers.
It is vital for consumers to be vigilant when purchasing goods to ensure that these are being bought from authorized resellers and are, in fact, original goods.
Consumer Protection
Knowing your consumer rights during Black Friday and the upcoming festive season is essential to protect yourself from misleading deals and ensure a fair shopping experience. With high-pressure marketing tactics, flash sales, and limited time offers, understanding consumer law can help you spot genuine discounts and recognize your rights to refunds, returns, and repairs if items are faulty.
You can find more information on the consumer legislation here.
For retailers, specific Terms and Conditions for Promotions that define the terms of promotions or sales must not be overlooked. These would typically cover details such as the nature of the promotion, participation methods, restrictions (like age or location), start and end dates, and product availability limitations. It is important that terms are written in plain language, easily accessible, and understandable for consumers to understand and be informed of the parameters of such promotions. Moreover, retailers would do well to remember that false advertising could very well land them in hot water.
What does this mean for you?
Understanding intellectual property and consumer laws is crucial for both consumers and retailers. Consumers need to protect their rights and avoid fraudulent practices, while retailers must ensure compliance to avoid legal issues including investing in the security of their systems.
