Lots of competition between retailers means it is possible to find great bargains when shopping online.
Knowing how to find the best deals can ensure you find the same product cheaper or receive freebies, store card points or air miles when shopping.
Below are a few effective tricks that over time can save you hundreds of pounds.
1. Compare prices
We all know that shopping around can save a lot of money. But comparing prices of several online retailers and high street shops to find the best deal is also time consuming. Kagoo tracks prices of thousands of retailers to help you find the best deal in one place.
How to find the best deals
Compare prices from online retailers and high street stores
Check if the product is available in used condition or as an ex-display model
Check prices from international sellers
2. Buy at the right time
Great bargains can be found by knowing how to time your purchase. Research by Kagoo has shown that the cheapest price for TVs can change up to 15 times per day.
The bigget price drops when buying a TV can be found between 7-9am.*
The largest number of price drops happens on Thursdays and Fridays. Getting up early also can pay off with more than half of all price drops occurring between 3am and 9am.
3. Be quick
Shops can reduce prices for short periods to increase sales when demand is low or to clear their warehouses of discontinued products.
Great deals usually don’t hang around for long. Prices can rise within less than an hour, so if you have already decided which product to buy, make sure you take advantage of deals as soon as you see them.
Sign up to a price alert for your chosen products and you will receive an email as soon as the price changes.
4. Avoid additional charges
Make sure you check the delivery cost for your item and factor this into the overall price. It can work out cheaper to buy an item with a slightly higher ticket price if the shop offers free delivery, as the overall cost will be lower.
For large appliances like a fridge-freezers or washer-dryers, delivery costs can be substantial, so make sure you shop around. Comparing the cost of connecting the appliance and removal of your old appliance is another opportunity to make savings.
5. Look for freebies
Retailers often try to sweeten the deal and convince you to buy from them by including additional extras. This can be a free laptop bag, a camera case or an extended warranty for a new TV.
Don’t be tempted to pay a higher price just because of the included extras. However, if you would have bought them anyway, these offers can work out cheaper.
Using a voucher code can save money when making a purchase. Make sure you check the dates the voucher is valid for and if it applies to your chosen product.
Don’t buy something you don’t need just because it is on offer and remember that vouchers were created to make shoppers spend more, not less.
7. Use a credit card
Buying online with a credit card gives you greater protection and it will be easier to get your money back if something goes wrong.
You can claim against your card provider under Section 75 of the Consumer Credit Act to get your money back if the it cost over £100.
Many credit cards will allow you to collect points or air miles as you shop.
Just remember to pay off the balance before any interest is charged, or your purchase could turn out a lot more expensive.
8. Don’t rush
Compare products, read reviews and decide which digital camera or TV you want to buy. Don’t impulse buy, particularly if it’s a big-ticket item.
Thinking carefully about a purchase and sleeping on it means there is less chance you will regret your purchase and need to spend time and possibly money to exchange it or ask for a refund.
9. Avoid peak times
It is best to buy when demand is lowest, as many retailers will try to increase sales by reducing prices.
If you buy when everyone else does too, you could end up spending more. For example, avoid buying TVs, games consoles and home cinema systems in the run-up to Christmas.
10. Think long-term
The purchase price is not the only cost, particularly when it comes to home appliances and electricals.
Electricity and water costs to operate a washing machine can exceed the purchase price within 5 years.
Check the energy efficiency and calculate running costs of electricals and appliances, especially they are used regularly or running constantly like fridges and freezers.
Kagoo analysed price movements of 1,848 TVs sold in the UK between May – August 2016