The Best Ways to Save Your Money While Shopping Online
When you think about online shopping, the first thing that hits you are its perks. There’s no need to move from your seat to purchase what you need. If you’re looking a gift or just something from a flash sale, all it takes is your virtual basket and a cashless payment. To top it all off, there’s no crowds nor queues to deal with.
How do you, however, save your money when you shop online? These tips might just be the thing you need. It is, after all, best to wring your money’s worth out of every purchase you make. Yes, even the online ones.
Wonders of Cashback Sites
If you’re not familiar with the term, a cashback transaction is an incentive scheme that returns a minor percentage of your transaction’s sum back to your card.
In other words, you get part of your money back for the payment you’ve made.
A couple of local websites offer this service, ranging from mycashback.sg to ShopBack Singapore. Shopback’s current promotion for new members include an extra S$5 bonus for your very first purchase. You could also refer four friends to sign up, and earn S$80 into your ShopBack account.
You do need to ensure that you obtain the promo codes or transact through their website to qualify for the cashback. Pay-outs will be done into your bank or credit card account, depending on the site you’re using.
Use Discount Coupons
Discount coupons are a godsend when it comes to chipping off your final purchase’s figure. Some offers apply for specific products and brands on a website, while other codes can be used at a certain timeframe.
Cuponation is a great platform to use, as it works with more than 300 retailers across Singapore to give you the best deals and most recent coupon codes. Explore based on options like Top Stores, GSS 2017 on their website.
Step Away from the Trap of Dynamic Pricing
Online merchants are able to quote different prices for customers based on their location, the ongoing demand for the product and by analysing one’s spending and browsing patterns. Ever wondered by the ticket prices for airlines can get steeper when you visit the page the second time in less than a day or two? That’s the concept of dynamic pricing in action.
Skip away from dynamic pricing by regularly clearing your cookies and browsing history, logging out of your social media websites and even switching to incognito mode. Localised web pages also tend to give you a more relatable price-tag compared to ones that are redirected to U.S.
Compare Prices Online Before You Buy
You could give priceme a try. The website breaks down its categories into icon segments, making it pretty easy to navigate around. There are more than 210,000 products on its site to date. Priceme provides reviews from both retailers and buyers, as well as buying guides and price trends, which can be a lifesaver.
Another website that’s worth a look at is pricepanda. While it offers similar services, the company also features smaller niche brand names and some pretty hard-to-find products.
Reduce Your PayPal Fees
Yes, it is actually possible to drop the number on your PayPal fee. Apply for a Merchant status by reconfiguring the settings on your membership account.
Here’s how it’s done.
After you’ve logged into your PayPal account, head over and click the “Profile and Settings” tab. Now select “My Money”, followed by “Merchant Fees” and “Apply Now”. You will be redirected to a page to fill out a short form. Do so and click “Submit”.
The results are instantaneous. Granted, you could either be accepted or rejected, but it is definitely worth a go.
Merchant fees are usually US$0.30 for each transaction, followed by either 1.9% to 2.5% of the sale’s value. You’d otherwise be charged US0.30 plus 2.9% of your purchase value as a regular member. The rates do defer based on the country you’re purchasing from, especially if it is from somewhere out of the U.S.
Other terms and conditions apply, and the rates are also subject to change.
Get a Credit Card that Supports Online Purchases
If you’re one who’s prone to online shopping, get yourself a credit card that’s designed to help you save while you purchase across websites. Standard Chartered’s SingPost Platinum Visa card, for instance, provides its user with up to 7% cashback for certain online purchases, with the possibility of earning up to S$720 per year.
American Express has a contender with its True Cashback card. Its introductory offer avails 3% cashback for a total of up to S$5,000 within the first 6 months, as well as a credit card fee waiver for the first year. The cashback percentage is otherwise 1.5%, but there are no minimum expenditure requirements nor earning caps.
Leave Your Purchase in Your Cart
Yes, leave the items you want to purchase in your checkout basket for a day or more. It will give you some time to think and justify if you really need it to begin with. On the other end of the site, retailers do want to close the sale, and they will move to retain your transaction by throwing in coupons and other freebies to retain your purchase.
Do note that this hack will only truly work if you have a member’s account with the site. You also have to be logged in before you browse away from your cart.
Subscribe to Newsletters
Subscribing to newsletters gives you a means to be updated on the latest promotions and online sales. Being a member could also give you privileged pre-sales access at certain websites. If you’re worried about being flooded by emails daily, go for the weekly or monthly option.
This will help you be in the know on some of really great deal and bargains. For all you know, you might just get that wish-list item with a chunk off its usual price!