How Online Shopping Can Help You to Save Money

Sun, Aug 31, 2014

Budgeting, Financial Advice

Online retail now represents a huge global business, and one that is only likely to grow proportionately over the next five years. Retail sales on the online market are expected to rise to $370 billion by the year 2017, which represents an increase of $139 billion since 2012. This is not only good news for business owners, however, as customers can also benefit by accessing online deals and discounted rates through the World Wide Web.

While the Internet has succeeded in making it easier than ever for customers’ to save money while executing high-ticket purchases such as cars, however, it has also afforded them an opportunity to compare prices on everyday items. With an awareness of the online market and a willingness to invest time into sourcing the most competitive deals, you can save huge amounts of money throughout the course of the year.

3 Ways to save Money when Shopping Online

With this in mind, what practical steps can you take to save money when shopping online? Consider the following: –

  • Use Price Comparison Sites and Online Supermarkets Wisely

Price comparison sites are an excellent online resource for saving money, as they draw financial information from multiple markets and present them in a single space. They need to be used wisely, however, and it is important to remember that not all vendors or service providers list their details on third party resources. A comprehensive search must therefore also include branded and independent websites, depending on the product or service that you want to invest in. This is particularly helpful if you know what you want, as you can simply visit an online used car dealership like AA Cars and similar dealers, select sports cars for example, and see what is currently available.

  • Subscribe to Websites and Online Stores

As online shopping becomes increasingly popular, there are a huge number of online stores that offer between 5% and 15% discounts to loyal customers. So simply by subscribing to sites such as Amazon and Target before completing regular transactions, you can become eligible for these aggressive promotional offers and save money on a host of every items. While an average saving of 10% on relatively low-cost products may not seem a lot, however, it can accumulate quickly and more than repay any paid subscriptions that you choose to commit to.

  • Use the Right Credit Card and Time your Purchase Well

When completing purchases, be sure to use the right credit card as this can enable you to make savings of between 2% and 5% on each individual purchase. Amazon offers 3% cash back with its Rewards Visa card, for example, while also promoting free shipping and similar promotional benefits. There are even standard credit cards that can offer you up to 2% savings on retail purchases, so pay attention to the terms of your credit agreement before shopping online. It is also crucial that you monitor real-time pricing online, as this is known to fluctuate wildly due to a black-box algorithm that has revolutionised Internet shopping. Prices also vary between individual websites, so timing your purchase and its source has a direct impact on your eventual savings.

 

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