Shopping online has become easier and easier. In some ways, consumers benefit from simplicity and better choice. However, it can also be easy to spend too much online. Read our tips and tricks to save money when shopping online. First of all, you should ask yourself if you really need what’s in your cart. There is a global movement to bring our lives in order, and that includes resisting the urge to buy more things that will just go unused. Do you think this is something you will use regularly?
Another problem is that many people see something they like – but forget that they already have something similar at home. You may have found great jeans that you are looking at, but they may only be attracted to you because it is your typical style. Think about having a similar product before you take out a credit card. When in doubt about any online shopping: Sleep your shopping decision. If you still want to make a purchase the next day then this is more likely a purchase that you will appreciate.
Don’t fall for sales and special offers
SOLD in big letters, with percentage signs everywhere. That’s what they get you for. Sometimes these special offers are great deals and you should grab them. In other cases, companies are lowering prices on things that are already relatively overvalued – so a 25% discount may actually be more than a 5% discount.
There are many cases where your local store might have more competitive prices than an online store. Keep your eyes open and try to find out the typical prices for different products. Once you know the current prices for different products, then you can make more informed price comparisons.
Are there other sites that have similar products? Open a few browser windows and compare prices. Like traditional stores, seasonal total sales usually have higher discounts. When summer is nearing its end, you are more likely to find special discounts on summer items and so on.
Wholesalers use big data – get ready
Atlantic has explored some ways retailers are pushing you, the consumer, to spend more. For example, 60% of online marketers consider free shipping to be one of the best marketing tools. If you get free shipping when you spend money, say $ 100, it’s easy to get distracted. You may end up spending more than you originally intended, just to reach that free shipping threshold.
Giant stores like Amazon are known for complex algorithms and custom pricing. The latter may sound like a good thing. What this really means, however, is that the price is optimized based on consumer information and even your personal shopping habits. Their ultimate goal is always to get you into the store to shop and spend more. Here it comes back to our first tip: Do I need this? And, also, is this a really good price?
Audit your monthly spend and create budgets
Because shopping online is so easy, we are less aware of how much money we spend. You give cash at the store (which is actually a good way to be very aware of what you are buying) or to take out your credit cards. While online, especially with online payment options such as PayPal, we can just click with our mouse instead of opening our wallet. How much does it collect each month?
Include your online shopping in your monthly budget and set firm limits. There are several ways this can help you – you may be less likely to buy the items you do not need right now (24 packs of light bulbs and neon extension cords on offer) and more space to distribute money to buy the things you really want have.