By the Money Examiners
Consumers save big shopping online, purchasing products that are quickly delivered to their homes. Amazon.com wants to cut the delivery time to a matter of hours using drones to deliver packages. Shopping online has seen a sharp increase and is projected to increasingly grow as more consumers shop for lower prices and the convenience of shopping from home.
- There are all sorts of benefits for consumers, including the savings on gas, saving time driving to the store, wear and tear on cars and lower prices than in most retail brick and mortar stores. Nor will you have to take time out of other activities in order to go shopping.
- If you don’t go to the store or the mall, you’ll be less exposed to merchandising and less likely to buy other things you don’t need. You won’t see the loss leaders and other gimmicks designed to make consumers pull out your credit card. But there are temptations to buy more products online at lower prices.
Tips for Saving Money with Online Shopping
Shopping online can save you money to begin with and to add icing to the cake, there are some strategies that can help reduce the cost of purchasing through the Internet. The best savings strategies include:
- Bundle purchases. Most online retailers will give you free shipping if you make an order over a certain amount and many offer coupons for free shipping, which can be found with a simple search. You can either wait until you are ready to buy several items from the same place and place one large order or find that coupon. Some retailers offer serious discounts for bundling, Walmart.com offers free two-day shipping on orders that exceed $35.
- Buy used online. Before paying full price for something new, check eBay, Amazon, and Google Shopping to see if a cheaper used version is available. The shipping costs are the same, but the used version can be 50%-90% cheaper. This is especially true of paying full price for books and ink cartridges. Reconditioned ink cartridges cost about one-third less than new cartridges.
- Use the lowest cost method of shipping. If a retailer lets you choose your shipping, choose the cheapest option. The time difference usually isn’t that great and it can save you a few dollars.
- Always include your mailing address in your shipping address. You should do this because the cheapest shipper, the U.S. Postal Service, only delivers to mailing addresses. If you get your mail at some place other than your home; such as a P.O. box, include both that address and your residential address in the ship-to address.
- Take your time. Spending a little time looking around online will often enable you to find a really good deal. There are a lot of great bargains online if you’re willing to look.
- Always add the shipping cost before you make a purchase. That low price you see at many websites often doesn’t include the shipping cost. Most online retailers have a feature that lets you add the shipping cost to the final price. If they don’t, get out your calculator out. You’re likely to be shocked by what the final cost is when you add the price and shipping.
- Finally, be careful of online promotions, such as gift and coupon codes. Like many store sales and coupons, online promotions are gimmicks designed to make you buy. Always compare the price with other prices offered elsewhere. In many cases, discounters will get you a better price without all the hassle.
Who are the Money Examiners?
The Money Examiners are a team of journalists, and experts in stocks, bonds, real estate, money management, personal finance, and banking dedicating to helping consumers better navigate the dangerous world of finance.