Consumer Savings Expert Shares Cyber Monday Tips
STUDIO CITY (CBS) — Consumer savings expert Regina Novickis visited KCAL9 Friday to share tips for shopping on Cyber Monday.
Do’s + Don’ts
Do research prices and create a budget.
The most important weapon in your holiday shopping arsenal is knowing the real prices of products you want to buy. This way you can recognize how good a deal is when you see it and know how much money you will be saving.
Do leave your credit cards at home or in another room.
So many people get caught up in the impulse and end up overspending – it’s not a bargain if you end up paying credit card interest on the item. If you want the purchase protection that comes with a credit card logo, consider prepaid cards. That way you can load the card up only to your budget, and you won’t go over when the desire to impulse purchase comes on.
Do use online coupons and free shipping offers.
Go to sites like PromotionalCodes.com to find the most current coupons. The site aggregates tens of thousands of promotional codes for merchants like Target, Home Depot, Sears. The site currently features a special section on Black Friday deals, and will be showcasing Cyber Monday offers, so it’s a great place to start finding savings. Not only can you take advantage of Black Friday savings, in some cases you can find additional discounts.
Do shop with a buddy.
Certain codes or offers may only apply when you spend more. For example, a merchant may offer 30% off of a purchase of $100. If you spend $70, you can essentially get $30 for free. If you’re only making a small purchase, consider shopping with a friend or family member to split the costs and take advantage of the savings.
Do take advantage of Cyber Monday.
Many online merchants will be offering sitewide discounts. (Will give some examples).
Don’t be worried if you missed out on doorbuster deals.
There are often great deals to be had, but Black Friday deals extend throughout the day and beyond. Many door buster deals are not the high end, name brand electronics either, so while it may seem like an enticing offer, if you’re looking for a big bargain on high-end electronics like centerpiece TVs or loaded laptops, wait until Cyber Monday. The only exception is check out the Apple Store, which only discounts on Black Friday.
Don’t be brand loyal.
Sticking to a specific brand is a fast way to lose money. Many merchants are competing for consumer dollars, so if you’re willing to go off-brand, you can score some big deals.
Don’t pay for shipping.
Close to 93% of merchants are offering free shipping this year. This saves you on gas, time and money spent at the mall; as well as creates a great opportunity to ship gifts directly to the recipient. And you won’t end up paying for baggage fees when carting gifts on the airlines.
Don’t be afraid to wait.
The best time to get the greatest deals on toys is actually expected to be the 14 days leading up to Christmas.