“Discounts were once associated with misfortune, but now in these uncertain times being thrifty signals financial mindfulness and planning,” fashion psychologist Dawnn Karen, who conducted a study of Prime Day for browser extension Honey, said in an email interview. “It also helps shoppers feel more in control when so many life elements are in flux.” Bargain hunting is going mainstream. During boom times many people didn’t think twice about paying full price, but a Honey survey “shows us that more than half of Americans (52%) have increased deal sharing since before the pandemic as it’s becoming a celebrated part of social discourse,” Karen said.
Compare, Compare, Compare
“Always compare other big box stores like Target or Walmart by running a quick search or download a tool like Popcart to your browser, which provides [an] instant pop-up notification if something you’re eyeing is sold at another site for less,” said Andrea Woroch, a money-saving advisor, in an email interview. Software tools can also prevent buyer’s remorse. Honey’s Droplist feature, for example, notifies you when something you’ve got your eye on drops in price. “It’s a time and money saver, so you’ll snag the item you love and not feel guilty about it afterwards,” Karen said. Online prices often fluctuate, too, so Woroch recommends using an app such as Edison Mail that tracks your purchases. It includes a tool that notifies you if something goes on sale within a retailer’s price adjustment window. There’s also Paribus, which claims to automate the process of getting money back after a price drop, and you can even earn more cash back using rebate apps like Fetch Rewards, which allows you to snap a pic of your receipt and upload it to your account to earn points. Using the right credit card can also boost your savings. Woroch recommends reviewing cash-back programs at CardRates.com.
Keep Your Finger on the Trigger
If you have your eye on a specific item, speed is key. Keep Lightning Deals on your radar, as well, suggested Skirboll, saying, “These super-limited offers are the best-of-the-best and never last long. Last year, to qualify as a lightning deal, a product had to be at least 20% off its list price. Once you put a lightning deal in your cart, you only have about 15 minutes to transact.” This year, bargains are more appealing than ever as paychecks shrink, but maybe you should consider whether you really need that 4K TV or tablet. On the other hand, what better way to doomscroll your way to 2021?
