Disclaimer: This article provides general tips to how to save money shopping online and should not be considered professional financial advice. For personalized financial advice, consult a financial expert
For millions of consumers, online shopping is no longer simply a convenience; it’s a way of life. But if you don’t know how to shop around, you can also spend too much on the dozens of deals and discounts available online. The good news is that plenty of strategies can help you save.
In this guide, we’ll cover everything you need to know to make the most of your online shopping experience, including ways to compare prices, take advantage of the new step-by-step payment feature, and when to use loyalty points.
1. Use Price Comparison Websites and Apps
Comparing prices across different platforms is one of the easiest ways to save money shopping online. Price comparison sites and apps such as Google Shopping, PriceGrabber, or Shopzilla allow you to search for products and compare their prices at stores. This ensures that you’ll be offered the best deal on chips.
I used Google Shopping, for instance, when I was looking for a new computer, to compare prices from all the major retailers. One computer I was interested in was priced at one site at $700, but I found the same machine at a different retailer for $650 by conducting a brief search. This alone saved me $50!
Many of these platforms also display shipping costs so that you can factor that into your total savings. In fact, according to Statista, 60% of shoppers in the U.S. performed online price comparisons before making a purchase, with 14% specifically using Google Shopping to find the best price. This shows how important it is to use comparison tools before making a final decision.
2. Leverage Coupons and Promo Codes
Before checking out, always search for coupons or promo codes. Websites like Honey, SaveMyCent, RetailMeNot, and Coupons.com aggregate discount codes that can be applied during checkout. These platforms often have many promo codes for your favorite stores, from free shipping to percentage discounts.
For instance, I was shopping for that laptop and found a 10% off promo code for first-time customers on RetailMeNot. I applied it during checkout, which brought my total down from $650 to $585. That’s another quick way to save!
Additionally, installing browser extensions like Honey allows you to automatically find and apply the best coupon codes without lifting a finger. These tools work across various websites, ensuring that you don’t miss any discounts. And with 92% of online shoppers using discount codes or coupons, you can rest assured that you’re not alone in seeking these extra savings!
3. Sign Up for Newsletters and Loyalty Programs
Another excellent way to save money is by signing up for store newsletters or loyalty programs. Many retailers offer exclusive discounts and early access to sales to those who subscribe to their emails. For example, stores like ASOS, Nordstrom, and Macy’s often send personalized discounts to their email subscribers, giving them a competitive edge during sales events.
Loyalty programs can also be a great way to save money while shopping online by racking up points or earning purchase rewards. Programs like Target Circle and Amazon Prime allow shoppers to save on future purchases through discounts or free shipping perks. Even if you’re not a frequent shopper, it’s often worth signing up for these programs to access these exclusive deals.
4. Make the Most of Cashback Programs
Cashback programs are another effective way to save money while shopping online. Platforms like Rakuten, Swagbucks, and TopCashback let you earn a percentage of your purchase as cashback. The best part? You can use these programs across various online stores, including Walmart, eBay, and even travel sites like Expedia.
I used Rakuten to get 3% cashback when I purchased my laptop. This was on top of the savings from price comparison and promo codes. By the time I finished, I had earned about $17.55 back in cashback, further reducing the laptop’s price.
Many credit card companies also offer cashback rewards for online purchases. Pairing these rewards with cashback websites can double the savings, turning your everyday shopping into a money-saving opportunity.
5. Take Advantage of Seasonal Sales and Promotions
Cyber Monday, Black Friday, back-to-school sales, and other seasonal promotions are some of the best times to lock in online deals. Retailers generally offer great discounts during these sales, so timing when you make purchases can have a major impact. According to a report from Adobe, online sales hit a record on Cyber Monday 2020, topping $10 billion.
If you want to buy high-ticket items like electronics or appliances, make a list and wait for big sales. But remember: sales may be year-round, so look for seasonal deals that suit your needs. Be Mindful of Shipping Costs and Free Shipping Options
After all, if you get a good price on an item but have to pay a premium for shipping, all that effort is likely for nothing. To save money while shopping online, most online stores will give you free shipping if you meet a certain threshold. For example, Amazon offers free shipping for non-Prime members on orders over $25.
A few retailers also provide free shipping on your first purchase when you join their newsletter. It never hurts to see if you qualify for free shipping before you finish your purchase. You can also check sites like RetailMeNot, Groupon, and SaveMyCent, which will have the latest on retailers offering free shipping during this shopping rush. Maximize cash back offers with RetailMeNot by checking for additional cashback opportunities to increase your savings on top of the free shipping deals.
7. Use Credit Card Rewards and Points
Using your credit card strategically can also help you save money online shopping. Many credit cards offer rewards points or cashback on purchases, especially when you buy through certain retailers. For example, cards like the Chase Sapphire Preferred or the Citi Double Cash Card provide cashback on all purchases, while specialized cards offer bonus points for shopping with specific retailers.
By using a rewards card for your online shopping, you can rack up points that can be redeemed for future discounts or travel perks. Many credit card issuers also partner with online stores, offering cardholders exclusive discounts and deals on certain purchases.
8. Shop Smart: Avoid Impulse Buys
Impulse buying is one of the main reasons people overspend while shopping online. To save money while shopping online, create a shopping list before you start browsing and stick to it. Many online stores also provide wish lists, so you can save products you’re interested in and return to them later, ensuring you’re not making hasty purchases.
Additionally, avoid the temptation of “flash sales” or “limited-time offers” unless they’re genuinely items you need. These sales often encourage quick decisions that can lead to regretful purchases. Later, shopping innovatively means being patient and sticking to the deals that align with your needs.
9. Look for Refurbished and Open-Box Items
If you’re in the market for electronics or appliances, don’t overlook refurbished or open-box items to save money while shopping online. These products are often significantly cheaper than new items and can be just as functional. Websites like Newegg, Best Buy, and Amazon feature refurbished products with warranties, so you’re still getting the quality you expect.
Open-box items are usually customer returns in near-new condition. Many stores offer these at a fraction of the original price, providing excellent savings opportunities for those considering gently used items.
Conclusion
Save money while shopping online requires a combination of innovative strategies and the right tools. You can maximize your savings by using price comparison websites, leveraging promo codes, signing up for loyalty programs, and taking advantage of cashback offers. Additionally, being mindful of shipping costs, waiting for sales, and avoiding impulse buys will keep your budget intact. With the right approach, shopping online can become a more affordable and enjoyable experience, making it easier to get what you want without overspending.
