Between Black Friday, Cyber Monday and Boxing Day, it always feels like the holiday season is one of the best times to score some awesome deals and save significant money. But did you know that the majority of consumers don’t actually save much money on these super deal days? Retailers utilize some impressive marketing techniques to make the average consumer feel that they are saving money when in fact they aren’t getting a better deal than they would on any given day.
One example is the super door-crasher deals. Retailers use this as a tactic to get shoppers in the door when in fact there are only 1 or 2 of these super deal products available. Therefore, if you aren’t either the first or second person in the door, you won’t get that great of a deal.
But all is not lost! There are some ways to save some money this coming Boxing Day. Here are a few common mistakes to avoid in order to make sure you get the most bang for your buck!
Mistake #1 - Not comparing pricing:
We live in the age of technology! Why not use apps and sites to compare all of the different prices before you actually go to a store? Sites like redflagdeals.com and apps such as Flipp are great ways to compare pricing of a particular product to see which store is offering the best deal.
Mistake #2 - Shopping only online:
While online is definitely more convenient and comfortable, there are always certain deals that are only available in store. And sometimes these awesome discounts are not even advertised. Store are looking to liquidate certain items after Christmas and what is on the floor is often available at significant rebates.
Mistake #3 - Forgetting to factor in shipping prices:
When comparing online prices, don’t forget to factor in the shipping costs. A site offering a product for $69 plus $20 shipping works out to more expensive than an online store selling the same product for $79 but with free shipping of $75 or more.
Mistake #4 - Ignoring Price Adjustment policies:
Many major retailers offer a price adjustment on any product purchased on Boxing Day if the price drops further in January. We often neglect that January pricing can sometimes be even better than Boxing Day. So make sure to keep those receipts and, in January, check back to see if the price has dropped.
Mistake #5 - Waiting until Boxing Day:
More and more retailers have started getting a jump on the shopping rush by offering their sales earlier and earlier. Many online shops actually go live with their Boxing Day deals on Christmas Eve at midnight! And, you would be surprised how many consumers are just waiting online until the 11:59 mark on December 24th! If you want the best deals, you had better be one of them!
I saved this one for last to keep this blog on the positivity side but this one is actually the most important. DON’T BUY WHAT YOU DON’T NEED. Sometimes these deals are so “attractive” and the discount is so big that you get tricked into feeling that you are saving money by buying the item. But the truth is, even buying a $100 item for only $20 is $20 too much if it is not an item that you will use. The biggest Boxing Day mistake is seeing the $80 saved instead of the $20 spent.
This Boxing Day, enjoy the crowds, keep your cool, take deep breaths, and snag some awesome deals!