Cyber Monday is the biggest United States online shopping day. The Monday after Thanksgiving, millions of shoppers flood retail sites to benefit from great deals and limited supplies. Black Friday is the brick-and-mortar counterpart, but Covid-19 may have fewer people out this year and more people shopping online and taking advantage of Cyber Monday deals. Here are 12 tips to save money on Cyber Monday.
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1. Look at past year sales. A new year comes with new/upgraded products. Although you may not see the same deals from the previous year, the same products and brands will likely have similar sales – Google previous Cyber Monday ads and flyers.
2. Bookmark your favorite shopping websites. Bookmark shopping sites that will help you remember your target shopping sites.
3. Follow your preferred retailers on Social Media. Retailers are using social media to alert consumers of great deals. Follow your retailers on social media, so you are up to date on their promotions. You may catch weekly deals or money-saving discount codes.
4. Sign up for retail newsletters. Retail newsletters are delivered directly to your email, alerting you of any promotions going on. Some people do not like their email to be flooded with promotional content, but it is possible to create a specific folder for this type of email in your email browser.
5. Create a holiday gift list. Having a gift list is another organizational method to help you remember what you need to get and not overspend.
6. Stock up on discounted gift cards. Often retailers offer deals on gift cards at a discounted price. Some places may offer 5%-30% off or offer a deal like, “Buy a 100$ gift card get 20$ off!.”
7. Know Store Policies. You need to know store policies on returns and exchanges. Some retailers include a restocking fee and short return deadlines. Some establishments even keep a database of people who “abuse” the return policy, which is why you may need identification to make a return.
8. Set a Budget. Consider everyone you would like to get a gift for and about how much in total you can afford to spend. Create a breakdown of how much you will spend on each person and try to stick to it. It is easy to overspend when making multiple purchases without a plan, especially when buying gifts for others.
9. Research and Compare. Before you go out and buy things on a whim, research what you want to purchase. Be sure this item is what you want and compare prices so that you know when you spot a good deal. The internet puts a ton of power in the hands of the consumer, being able to compare prices and utility in an instant. So be sure to know what you are purchasing.
10. Request Gift Receipts. You can request a gift receipt with a description of the purchased item without the cost. Gift receipts make it possible for the gift recipient to exchange or return the product.
11. Start shopping early. The earlier, the better. You can often start shopping as soon as midnight hits! Making your purchases early on Cyber Monday will reduce the chances of the retailer being out of stock.
12. Do not purchase upsells and add-ons. Upsells and add-ons are great for businesses to draw in additional income, but it is not so great for the consumer. Purchasing additional items, services, and products that you did not plan for is an expert way to go over budget.
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Black Friday and Cyber Monday occur right before the holiday season, so people tend to wait until this point in time to do their Christmas shopping. Black Friday shopping has become a tradition for many families to get out and fight long lines and crowded aisles to catch a deal. This year, there is more than a deal you’re at risk of catching. Shop safely. If you feel that you are at risk, stay inside, and take advantage of the convenience of Cyber Monday.