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Things you should know about Cyber Monday

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After Black Friday comes Cyber Monday, a day that has enjoyed just as much hype as the successful Black Friday.
It’s a day where retailers offer big savings on technology and gadgets, and consumers are encouraged to shop for these bargains online.
Cyber Monday is the first Monday after the Thanksgiving holiday in the US and, like Black Friday, it has since gone beyond the shores of the US and proven to be a major catalyst for retailers globally to increase purchasing efforts.
In South Africa the day falls on 27 November 2017. Ahead of the festive season, this can be a great time to shop deals for technology and gadgets.
“With the festive season fast approaching and the décor already in some of the shop isles, this is an incredibly busy time of the year for most retailers,” says Tshipi Alexander, head of consumer issuing at Absa. “On Cyber Monday, retailers will be trying to outdo each other with the best deals, to the benefit of consumers shopping around for the greatest technology bargains available.
“If things follow the same course as the last few years, we can expect increased transaction volumes and possibly crowded retailer outlets.
“We would like to appeal to consumers to be vigilant about transactions on their bank accounts and report any fraudulent activity immediately.”
Without taking the fun out of Cyber Monday, Alexander shares the following seven things users need to know about Cyber Monday:
* Look out for online deals for shopping convenience.
* Set a budget for your spending, and stick to it.
* If you have a limit on your card for daily transactions, clear this with your bank ahead of time to avoid disappointment when transacting.
* Not every deal is a bargain, so shop around for good deals, but make it quick.
* Ensure the security of your card by shopping on trusted sites, and keeping your pin and passwords a secret.
* All retailers participating in Cyber Monday will be competing for your attention and money, so you as the consumer have the purchasing power, use it wisely.
* Keep an eye on social media, as most retailers will use this opportunity as a platform to drive footfall into their outlets or online storefronts.
We all love great bargains, and while none of us want to miss out on the hype, please remember to save some funds for a rainy day.