Financial Education Expert Urges Caution in Peak Seasonal Shopping Period Amid Post Hurricane Struggles
As one of the most intense shopping periods draws near, consumers are being urged to approach deals with care, as some promotions may overstate discounts, be misleading or fraudulent, this is a perennial warning but especially, now in the aftermath of Hurricane Melissa.
With Black Friday, Cyber Monday and the lead-up to Christmas fast approaching, “people may be looking to shop to replace what was lost, support loved ones who are starting to rebuild from Hurricane Melissa, or even get a headstart of securing the usual Christmas gifts for family and friends” said Rose Miller, financial education consultant at the JN Foundation. “However, be wary of offers promoting major markdowns, because those discounts could be limited or not genuine at all. The rush for savings can lead to overspending, poor financial decisions and exposure to deceptive deals targeting vulnerable shoppers.”
In Jamaica, the Black Friday and Cyber Monday cultures are steadily gaining traction, and more consumers are turning to online marketplaces and e-commerce websites that offer periodic deals. However, complaints about fake or exaggerated deals, especially during this shopping period have been noted in recent years. This is true for many major markets as promotional advertisements and signage flood both online channels and physical stores to attract shoppers’ attention.
Mrs Miller therefore advises consumers to be cautious during the “period of temptation.” She emphasised that while legitimate deals allow the dollar to “stretch a little further”, the heightened risks and demand following the hurricane mean shoppers need to plan carefully and spend intentionally.
“Those real deals and discounts can offer savings, but consumers must remain discerning,” she said adding that “Even in challenging times, there are those seeking to exploit shoppers. You don’t want to create financial stress for yourself when it could be avoided and bearing in mind the imminent economic fallouts, we must be wise in this season.”
Mrs Miller emphasised the importance of doing research, encouraging consumers to explore multiple options before committing to a purchase.
“Don’t be swayed by flashy signs or emotional videos on social media,” she said. “Take the time to shop around. Other stores or websites that don’t advertise flashy deals may actually offer better prices or greater value,” she said, while urging shoppers to be mindful of their budget and know exactly what they can afford to spend.
Mrs Miller also cautioned against emotional spending, noting that guilt or the desire to please others can cloud judgment and lead to impulsive purchases. “When a deal feels rushed or too good to be true, it probably is,” she also warned.
For online shoppers, she advised sticking to reputable websites and verified retailers, carefully evaluating deals before making a purchase and comparing advertised discounted prices with regular prices to spot inflated or misleading discounts.
“Check reviews and verify sellers before making a purchase. This is another good habit shoppers should cultivate,” she advised. “Avoid clicking on links from unknown sources and be cautious of online businesses on social media without clear contact information or business details.”
Additionally, consumers are urged to ensure payment systems are secure; that they use credit cards that offer greater protection against fraud, and keep records of all transactions that can help verify purchases and resolve disputes should they arise.
“The hurricane’s aftermath has increased both the need and urgency to make purchases, creating additional opportunities for many to exploit consumers with fake deals, websites and social media pages. Stay alert and vigilant as you shop to avoid falling into the traps being created by those looking to exploit you,” she shared.
