All sales, be it the festive season or not, are full of carefully thought-out and tactically executed tricks and strategies to lure consumers into buying things. And, with social distancing being the new norm, many customers are shifting towards online shopping.
The online festive edits offering luring discounts are round the corner and if you are an online shopper, you must have seen the advertisements of e-commerce websites Amazon and Flipkart announcing the festive season sales of the year. Apart from instant discounts, these events will unleash attractive cashback offers which are hard to ignore.
However, a lot of these offers are not tailor-made according to your personal needs and spending capacity. This is why you should not jump the gun and spend mindlessly during sales. However, if you are keen on splurging during the festive season ‘bumper’ sales that are on at the moment, here are a few things that you could do to avoid denting your wallet too much.
Don’t fall for the numbers
While shopping one might come across call to action tabs or advertisements which my up to 70% discount on products across the website. However, these may not be available on all the products. The highest offers are generally on the hero deals which are most advertised to pull more people on the online website. The discounts on the rest of the products may not be the same.
Also, when you see schemes like ‘A%+B% off’, always remember that a flat C% off is better than the former. For example, a flat 60% off is more economical for you than a 40%+20%. Further, if you have been saving up and do not want to let go of that ‘buy 2, get 1 free’, try and make sure that the least expensive product is as close as possible in monetary value to either of the expensive ones.
Get the timing right
Now, while it’s a good idea to shop during the festive season, you could get better discounts on cars at the end of the year because the new year means the next year’s date on registration, which will fetch a better price in a resale. But if you want to use the car for the long term, it makes sense to purchase it in December at a high discount.
Month-end or year-end are also good times to go on a buying spree as stores have to meet their targets and would be more willing to get rid of the inventory at a higher-than-normal discount.
Go for No-cost EMIsSeveral websites offer the no-cost EMI schemes in case of high-priced items such as mobile phones and other consumer durables. Under this offer, customers can pay for the product in equal monthly instalments or EMIs instead of in a lump sum. The biggest pull of the scheme is that there is no cost attached for availing of the facility.
Say, for example, you are buying a refrigerator for Rs 24,240. So, instead of paying the whole amount upfront, customers may opt for a 6-month no-cost EMI offer. In this, they have to pay only Rs 4040 per month for a period of six months.
Do your research before buying
If you are planning on making a big-ticket purchase like luxury products, or an expensive appliance, it is important that you do your research. Make sure you know enough about the product and its features and its market price. Go with enough preparation of products and market pricing, it will help with the negotiation process. Keep checking for prices and compare them.
- Cashback offers
These are one of the most popular offers used by online shopping websites to attract buyers. As the name suggests, under cashback, the buyer gets back a percentage of the cost of the product or a flat amount paid. The key clauses to look for while availing a cashback offer are the maximum cap, minimum spend and the effective date. Often, the cashback given are of a certain percentage of your total spend but here’s the truth, they are only up to a certain amount.
For example, there may be a cashback of 10% on your purchase but 10% up to only say Rs. 75. So it’s really 75 bucks which is the maximum you’re getting back, not 10% of say Rs 2000, which would be Rs 200. Do this math when checking the offer. Read the fine print to understand how the minimum spend will be computed.
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