How to find a great deal and be a savvy consumer

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December 7, 2020
How to find a great deal and be a savvy consumer

With the transition from traditional retail to e-commerce well underway, the recent pandemic has only served to be a catalyst. It is now more imperative than ever to be a savvy online consumer. Finding great deals is easy and the financially responsible thing to do.

So how do you know if you're getting a good deal? What is the market value? And is it a fair price? Learn these modern strategies to make your next purchase with confidence.

1. Take time to consider and save

If it's not an urgent purchase, make it a personal rule to add it to your shopping cart, go through the funnel, then sit on it for a week (don't actually checkout). This serves two purposes. First, it will stave off impulse purchases. You might not actually want it after taking some time to reconsider. Second, your shopping cart could potentially be flagged as abandoned - this is actually a good thing because there's a high probability you'll receive a follow-up coupon code via email to entice you to close the deal.

2. Cashback credit cards

One of the easiest ways to save money is to sign up for a cashback credit card. Discounts are often dependant on types of purchase but typically save you anywhere from 1-5% without doing any extra work. Make all your purchases through this card, but be sure to automate your bill payment in full each month if you haven't already set this up with your bank. One less thing to think about - it's a no-brainer.

3. Coupons

Another easy way to save money is through coupons. And the easiest way to find them is with Honey. This browser extension crowdsources coupon codes from other users and automatically applies them for you at checkout. You'd be pleasantly surprised how often it works.

4. Go incognito

When shopping online, marketers are always tracking your every move through the use of cookies and IP addresses. The data is then used to influence your purchasing decision. Tactics such as dynamic and geographic pricing are common practice and widely adopted. Next time you make a purchase, do it from a private/incognito session and try switching your VPN location to a country with lower purchasing power.

5. Price history & notification

If you're shopping on Amazon, make sure to visit camelcamelcamel.com. This site allows a user to track the price history of a particular item and set up alerts to notify you when the price drops to your desired target. To get started, you just copy and paste the Amazon URL inside their search box and hit enter.


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