More Americans have turned to online shopping than ever before due to the ongoing COVID-19 pandemic. Even high-cost purchases that most people would typically buy in-person – like furniture, appliances, and even cars – are now purchased in high-demand online. To make sure your hard-earned money is well-spent, we’ve compiled our top 6 strategies for saving big when shopping online:
- Comparison Shop: Before you make a purchase on a retailer’s site, type the item’s name in Google (on the shopping tab) to see the price at a glance on other retailers’ sites. This is hands-down the easiest method for making sure you don’t overpay or pay full price, when the item could be on sale elsewhere.
- Follow Your Favorites on Social: The majority of retailers use their social media channels as a marketing tool to promote new product launches and upcoming sales, so be sure to follow your favorite retailers on Facebook, Instagram and Twitter to receive exclusive discounts, promo codes, and early access to upcoming sales.
- Plan Purchases Based on Seasonal Trends: To make room for new products, retailers typically purge and (significantly) discount old inventory. For example, outdoor furniture is often highly discounted in the fall, as are outdoor tools like lawn mowers and grills. Likewise, holiday décor – such as Christmas trees, wreaths, ornaments, etc. – are marked down dramatically in January and February, and jackets and coats are typically on sale for 70% off (or more) during the summer months.
- Download Money-Saving Browser Extensions/Apps: There are several free browser extensions – like Honey – that help you save money by searching for the best coupon deals available and applying them instantly when you check out. Honey also has a tool that allows you to track an item’s price history so that you can base your purchasing decision on past trends, and whether or not it’s a good or bad time to buy.
- Abandon Your Cart If you have an online account with a specific retailer, and have items in your cart but don’t check out, many retailers (like Best Buy and Bed, Bath & Beyond) will send you discounts and incentives to come back and “complete your purchase." It’s sneaky, but it works!
- Don’t Default to Amazon: So many people habitually default to shopping on Amazon (especially Prime members) due to the convenience and fast free shipping it offers. Despite common public perception, the e-commerce giant doesn’t always offer the lowest prices. For example, prior research revealed that the popular Stokke Xplory Stroller was priced $1,099 on Amazon, but you could find it for only $999.99 on BuyBuyBaby.com. Fan of cold brew? Amazon was selling the Cuisinart Automatic Cold Brew Coffeemaker for $95.99, while the same exact model was for sale for $79.95 at Williams-Sonoma.com.
Need more money-saving advice? Call 972-716-7100 to consult one of our North Dallas Bank & Trust Co. experts today or visit ndbt.com for more information. Member FDIC.