11+ Proven Tactics To Save Money
Shopping Online (2020)
This article is an ultimate checklist of 13 best strategies that will help you save enough money while shopping online.
Here, you will explore many secret methods that will help you save some bucks while shopping online.
If you are a coupon finder or a money saver, then you will love this article.
Without further ado, let’s dive right now.
Table of Contents
Table of Contents
The adoption of the internet has modified shopping habits today.
A few decades ago, people could only make in-store purchases. Nowadays, with the click of a button, you can have pay for goods and services and have them delivered onto your doorstep.
Currently, a large percentage of people are shopping online.
The e-commerce industry has grown to unprecedented levels, pulling in trillions of dollars every year.
However, despite the change in the medium of shopping, there has been one constant, unchanging factor; the desire to save money while shopping.
The Relation between Price Cutting and Consumer Behavior
Cutting expenses while shopping is a key factor in money management.
Money-saving while performing online shopping is even easier with the introduction of e-commerce.
Before the internet, toggling between stores to cut expenses proved tiring. Today, from your couch, you can visit 10 different stores at once to view the pricing of items.
E-commerce stores understand this fact and now provide consumers with coupons, discounts, and promo codes to attract online shoppers.
If you’re don’t have a passive source of income to cover your expenses, check the below tips on how to take advantage of the price cuts offered by online shops.
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Money-Saving Hacks while Shopping Online
1. Visit Cash-back Shopping Portals
There are shopping portals that partner with numerous online shops to earn you rebates on your purchases.
For instance, if you pay $100 for an item, you receive a percentage of that money back.
Percentages differ between items and services and can range from as low as 1% to as high as 40%.
You can search for cash-back shops online and choose the one you feel comfortable with.
After that, you’ll need to sign up with them. While trying to shop, visit the cash-back shop’s website and navigate to any store.
Stores that offer cash rebates display a pop-up confirming the validity of the rebate. After you make payment for the service or item you purchase, the percentage rebate will get added to your account.
2. Use a Price-Tracking Program
Have you ever purchased an item and noticed the price of that same item drop a few days later on another store?
You’d probably feel cheated when faced with this kind of situation.
Price-tracking programs serve you by ensuring you get remunerated for a price change.
For these programs to work properly, you’ll need to leave all your online shopping receipts saved in your email inbox.
Deleting the email containing the receipt could prevent the program from detecting any price change.
Price trackers work by comparing price changes across several online stores. For instance, if you purchase an item from Shop A and its price changes on Shop B, price-tracking programs would go to work.
First, by tracking the cost on your email receipt, the program will determine the price change and send an automatic request to the store you purchased it from.
The store receives this request and based on the store’s price protection policy, you’ll receive a rebate.
The exact difference between your cost price and Shop B’s price will be sent back to your account.
3. Use a Virtual Private Network
Have you ever tried to purchase an item or service online and you notice a price increase right before you pay?
This arises because of a technique called ‘dynamic pricing’. Dynamic pricing is a form of displaying different prices to consumers in a bid to wean more money off customers.
This type of price increase can depend on different factors which include location and purchase history.
Generally, consumers in high-earning regions or countries pay higher prices.
Individuals are also tracked with browser cookies to determine if they’ve paid for that item or service on that store and made to pay more.
Don’t even bother trying to sue these stores because dynamic pricing is legal.
This is where VPNs come in.
A Virtual Private Network is a security tool that changes your IP address to render you anonymous on the internet.
By changing your IP address, your location will be changed too, making you seem like a new customer to the shop.
Depending on the type of dynamic pricing used by an online store, you can tweak your VPN to avoid higher pricing.
If the store increases prices for countries in the first world, you can change your location on the VPN to a third-world country.
If the store utilizes dynamic pricing for returning customers, you can change your location to a random one so you don’t get identified.
For your VPN to work optimally, you’d best take some steps. First, download a VPN app on your device. Second, change your location. Third, delete your browser cookies and history before visiting the website so you don’t get tracked.
This technique works best when you’re trying to book a flight or hotel online, and can be used on numerous stores selling items like games, software, and so on.
4. Use a Cash-back Credit Card
When you use your debit card to shop online, you’re practically wasting your chances of getting a percentage of your money back.
You’ll have to get a cashback credit card to use while shopping. Many of these credit cards earn you rebates each time you make an online purchase.
The percentage of the rebate differs but is generally from 1% to 6%. It depends on the amount you’re paying or the type of item/service you’re purchasing.
5. Plan your Method of using Discounts
For this tip, your mathematics skills are essential.
There are certain ways you can multiple discounts to get lower prices for things you purchase online.
For instance, if you have multiple discount codes, applying a promo code for a discount before using a price-specific discount coupon would be better.
To make it easier to understand, let’s use figures.
If you’ve been offered a 20% promo code and 10$ coupon for an item worth $100, it’d be best to use the promo code before the coupon.
Let’s work the math.
Applying the 20% promo code leaves you with $80. The addition of the $10 coupon will then cut the price further to $70.
On the other hand, using the $10 coupon first cuts the price to $90. Adding the 20% promo code will then cut the price to $72. This way, you see that the first method offers you more benefits than the second.
6. Perform Shopping on Specific Days
Prices of items and services can change depending on the day of purchase.
This price change is influenced by a temporary form of demand-pull inflation. The higher the rush for an item or service, the more the price skyrockets.
For instance, navigating through online stores for specific items on a Sunday can drive the price higher.
This stems from the fact that several other customers are surfing the stores at the same time as you are.
Paying for services like flight tickets also tend to cost more on weekdays than on weekends. Some studies show that Sundays are the best days to purchase flight tickets.
Do your research online before heading over to that online shop to make your purchase. Alternatively, you can monitor the price changes a week before you buy the product to get a better idea of when to make the purchase.
7. Forget your Shopping Cart
This is a technique that has worked for centuries in its varying forms. From the days of haggling in markets to purchasing items with a click of a mouse, abandoning your cart creates a need for a store to call you back with better pricing.
You can entice online stores to send you discount codes when you need one. All you’d need to do is to add the items you want to purchase in your cart. When you’re done, close the tab in your browser to abandon the cart.
Don’t visit the website for a day or two. Within the space of three days, you should receive an email offering you a discount for the cart.
For this technique to work, you’ll need to have signed up on the shopping website.
You also need to make sure you’re logged in before you start your shopping. Remember that this also requires some patience, so it only works when you aren’t raring to make a buy.
Note that some stores will never send you a discount code so be sure to make your research online.
8. Haggle with the Store’s Customer Service
Most people regret situations where they come across expired coupon codes from stores. What they don’t know is that with perfect haggling skills, they can still use the expired coupons.
If you’re in this condition, call up customer service to request an extension of the coupon.
Most sales reps will oblige your request and extend the code or give you a new one. You can also use the chat option on the store’s website if you don’t want to call.
Although this is not widely known, chat support can offer you distinct promo codes.
To get the best out of this tip, ask for coupon code extensions when you’re buying a medium or high-price item. This way, you’d have better chances of paying a lower price.
9. Use Points Earning Websites
Some websites allow online shoppers to earn points just by purchasing products.
Once a shopper gets to a certain level of points, they can be redeemed for cash through gift cards or online accounts. These points can also be used to make purchases on compatible stores, hotels, and so on.
To earn through these point-earning websites, you’ll need to access your stores from their online portals.
The website then keeps track of your purchases to award you points.
Apart from purchases, you can also earn points on some websites by performing tasks like taking surveys and watching videos.
There are a certain number of points you can earn per currency unit spent. Before you can use this service, make sure to sign up on the point-earning website.
10. Get More Coupons with Several Accounts
If you have multiple accounts on an online store, you can cut big on expenses by receiving multiple coupons.
Since online stores like sending newsletters to different email addresses, if you have varying accounts, you can insert the coupon codes before payment.
11. Use Price Comparison Browser Extensions
Sometimes, comparing the price of the same item or service across several websites can be stressful. It involves opening several browsers or tabs, scrutinizing the features to make sure you’re getting the same product, and so on.
You can save tons of time by installing a price comparison browser extension.
These extensions pull varying prices for the item from different shops.
The list will be arranged neatly with indications whether there are active discounts for the products.
12. Search for Coupon Codes Online
If you haven’t received any promo codes in your email from a store, you still get one. By searching online, you may find promo codes available for an online store. For instance, your search term has to be in the form of ‘Xxxxxxx store discount code’.
You may have to search for a long time before finding an active or valid code. There are also coupon websites you can visit that display coupon codes.
13. Use Social Media
If you’re more of a social media person, follow the social media pages of your favorite online stores so you don’t miss their deals.
Sometimes, these stores offer codes and discounts on their pages.
Also, retailers frequently partner with social media influencers, prominent affiliate marketers, and celebrities to offer discount codes to their followers.
These were the 13 best tactics to save money while shopping online.
Even though the medium of shopping has changed tremendously, consumer behavior remains the same.
Shoppers are always looking to save money on their purchases. Because of the intense competition between e-commerce websites, better deals are being offered to internet shoppers.
There are several methods you can use to pay less while shopping online. Try out the aforementioned tips and enjoy lower prices!
Also, comment below your favorite money-saving tips right now.