INDIANAPOLIS, Ind. (December 1, 2014) – How do you know that deal you just found online for Cyber Monday is really saving you money?
Some retailers will claim items are being sold at a special Cyber Monday price, but in actuality, keep the item at its normal, everyday price. If an item is always 30 percent off, you aren’t really saving 30 percent on Cyber Monday. So how does a consumer know the difference?
Dr. Deidre Pettinga with the University of Indianapolis School of Business says there are deals to be had on Cyber Monday. The key is knowing how to find them.
“We have broad categories of shoppers; planners and unplanners. Sometimes people have heard the term impulse buyers,” she says.
Pettinga says planners are more likely to recognize a deal when they come across it, because they’ve likely been tracking the general price of an item for awhile. However, she says that doesn’t mean impulse buyers have to take big risks.
“Planners will have a good sense of what the general price of something is and then be able to calculate how good of a deal that they’re receiving. Unplanners can go on and take better advantage of sites like Amazon.com and PriceBlink that provides that comparison shopping feature for them.”
Finding deals and saving money are also about shopping smart. Pettinga urges shoppers to consider the price of shipping and other fees before making a purchase. She says it’s also important to keep track of what you are spending and where, because it’s easy to lose track of time when shopping online.
“You should probably set yourself a budget limit or write down the actual purchases that you’ve made at various stores so that you have a sense of your total expenditure relative to the time that you’ve spent,” says Pettinga.
Many sites, like Amazon, will also refund your money or credit your account if an item is being sold for less than you paid for it, but be sure to check the website’s policies before paying for your purchase.