POSTED BY July 27, 2015 COMMENTS (60)ON
I am sure you must have shopped online very recently. In last 5 yrs, the whole dynamics of shopping has changed, We have more online for most of the things ranging from electronics, clothes, groceries and even movies ticket booking :).
We are fascinated with the discounts and offers we get online. However I am sure even if you know a lot of tips of saving money online, still you might not be exploring its full potential.
Hence, I am going to list down various points and how you can save more money. Detailed description of these points is after this table.
Install Buyhatke extension
Go a bit extra mile in search for Coupons
Get cashback with specific credit cards and debit cards
Wait for the special days like Diwali and New year
Use Comparison Websites to find the best offer
Set Price Alerts
Leave items in your cart and wait for few days
Use wallet payment methods like paytm, mobikwik and payumoney
Use different emails for Shopping
Get extra cashback using Cashkaro.com
Industries like airlines and hotels give huge discount to there old customers
For used products you can get huge discounts on OLX, Quikr websites
Check prices on website pricebaba.com to know which brand is selling at discounted price or on MRP
To get the best deals keep checking the offer section of all website before you shop
Register on websites where users post great deals & discounts from here and there
Don’t get into the trap
There is this website called Buyhatke.com which offers a chrome extension, which shows you the other website where you can get the best deal while you are looking at some product.
You just need to install it in your chrome as extension. This way, you will be able to see the price offered by some other website.
Below you can clearly see, when I went to Snapdeal to find the price of its one of the LED tv, the price it showed me was Rs 17,568. However, the buyhatke extension at the top showed me that the same product is available for Rs 15,990 on Flipkart.
I didn’t had to go anywhere to compare the price. The extension automatically searches the best deal and show it to me. You can also compare the prices of the product by clicking on “Compare Prices” tab on the top right.
However note that the extension does not take into consideration all the coupons and cash back. So take the decision after factoring in all those points.
Another amazing feature of this extension is the historical PRICE changes which you can see on the same page a bit below the product description (automatically it comes when you use the extension). You will be able to see how the price has changed over previous few months. You can see the maximum and minimum and judge if the current price might fall further in coming days or it can do up.
This is the most basic thing you need to do when you are buying online. Sellers know that coupons are a great way to excite customers and make a faster sale by making buyers feel that this is the best moment to buy. Given the huge competition in the e-commerce space, every other company wants to give you a great deal somehow. Either the web site from where you are buying something may show you the coupon or you can find it on coupon sites.
On an average, I have always found some of the other kind of coupon which reduces the price by at least 5-10% . Some websites can have a variety of coupons depending on various categories (20 category = 20 different type of coupons). Something like “Buy above Rs 1,999 and get 20% discount” applicable on furniture.
Then there are websites like Ebay, which have generic coupons like “Buy above 750 and get 7.5% discount”, These coupons are easily available on the majority of the coupon websites.
I know most of the people who buy online do search for coupons, but I don’t think a lot of them go an extra mile to search for the best coupon and settle with the first one which they get. If you are buying an item with a high price, it’s worth the effort to spend extra 5 min to search for the best coupon available. You can keep applying 3-4 coupons and see which is giving you the best deal.
At times, you can get a good cashback or discount on paying from a specific bank credit or debit card. Banks tie up with the website, so that maximum payments go through their channel. This can be for marketing purpose or just to increase the sales of a particular credit or debit card.
Like Amazon may be giving a 10% cashback when you purchase by an SBI debit card or Snapdeal providing an additional 5% cashback on HDFC debit card
There are extra discounts and offers during Diwali, New year and many other Indian festivals. If you can wait and postpone your shopping, its always recommended to wait for these days, especially Diwali. Its a known fact that people in India buy high ticket items because of the auspicious festival. You might get a much better deal and cash back offers given the cut-throat competition between e-commerce companies in India.
Also, there are events like GOSF (great Indian shopping festival) where you can get good deals (not always). Last year, I made the same mistake. I upgraded my TV in the month of Aug and didn’t wait for Diwali and saw the same TV selling at 15-20% extra discount. If you can wait a bit, it’s always better to plan your purchases, especially high ticket purchases.
Another great benefit of waiting for some weeks or month is that you may realize that you actually don’t really need the product and it was a decision in haste to buy the product.
There are various websites like Junglee.com, mysmartprice.com and shopmania.in (and many others) where you can compare the prices of a product on various websites at one single place. You can see their shipping cost, estimated delivery time and also the rating of the seller.
It’s one window from where you can choose the website you want to buy from. At times, there is some mismatch in the main price on the website and the one shown on the comparison website. Below is how it looks like..
Mysmartprice gives a comprehensive comparison with various details and also the facility to set the price alert at the website level. It also gives section for price history, specification etc in a single page. Here is the snapshot
Scandid and pricebaba are some other good comparison websites you might want to try.
At times, you are not in a hurry to buy some product, but you never know when the price of a product was reduced to a level where you become highly interested in purchasing the product. So in that case, you can set a price alert for a particular product and when it touches that price limit, you will be informed about it over an email
For example, if you want to buy a product which costs Rs 5,000 at the moment, but you are very sure that its price will come down to Rs 4700 and that time you would buy it, then you can set the alert and you will be informed about it.
How to set up the price alert?
This trick might be working only with few websites and not all, but it’s still worth the try. You can first add all your items in the cart and then don’t check out. Just leave the items there in the cart. This is a big issue for e-commerce websites where the customers add the products to the cart, but at the final stage do not make payment and leave.
In technical term, this is called “shopping cart abandonment” and for most of the websites, its one of the biggest pain point, because a huge amount of sales is stuck there in the abandoned cart. As per the business insider report, globally out of every Rs 100 worth of products which is added to cart 71% is abandoned, means more than 2/3rd sales which can potentially happen, do not happen.
So, various companies in order to close that pending sale, will remind you about your cart and ask you to complete the sale. And some of them will often try to lure you with some extra discount with coupons etc. In the best case, you will be able to save a bit more and in the worst case, you won’t save anything extra.
Below is a sample email from pepperfry which was sent to some customer who didn’t complete the sale.
Note that this trick will mostly work for new customers who have recently created their account, because companies are in the race to acquire new customers to show it to their VC on how they are growing. So do not expect this will well know and big websites where you are already buying from many months or years.
On top of your regular discounts which comes from coupons, you can also get additional discounts if you use the e-wallets these days. If not discount, you will surely get some kind of cash back. The best example, I can provide is from bookmyshow website where you get the extra discount when you use movie tickets.
Pro TIP for Bookmyshow: If you want to book X tickets and each ticket cost is as high as Rs 200-250, book 1 ticket X times, that way you get maximum cashback :). Just that you need to make sure you be fast enough to book all tickets you need.
Almost all the companies offer some kind of discounts to new users. A lot of them offer coupons codes on email when you register for the first time. You can see this clearly on Foodpanda or Ola Cabs, where you get huge discount being a new user or get a FREE benefit for the first time.
A lot of companies are now offering the bigger discount if you order things using their mobile app, but you can’t use multiple phone number’s unlike emails, so that’s not easy enough. But if you have many people at home with smartphone’s, you can take this benefit too, for some limited time.
On top of all the discounts you get, you can also get some cashback if you buy things from cashkaro.com links. Its a website where you have to create an account and then use their links to visit the actual website where you want to buy things.
This way, cashkaro website gets the commission from the seller and they share a part with you and it accumulates there. You can take the money in your bank account via NEFT once it crosses a limit. Below is a simple video which shows you how it works.
You can register on CashKaro using this link
Now the last and the final point. All the tips which are mentioned above would be helpful and in your interest if you don’t lose control over yourself and be a responsible buying. Only buy things which you really need. These discounts and coupons are just extra benefits.
Don’t let these coupons and discounts become the carrot for you to buy things which you just don’t need. The sad reality is that, even though you feel that coupons are benefitting you, it’s actually helping sellers more.
These coupons and discounts are often funded and sourced by the sellers only to make sure they increase their revenue’s. Yes, in some cases, it will surely benefit the customer’s, but at a higher level these are mainly the marketing tricks of the seller and nothing more than that.
Let me take an example of Foodpanda, If you had to order food from outside, then foodpanda coupons are the added discount you get. But a lot of people are now using foodpanda on those days, when they didn’t had to order from outside, but just used it because there was a discount. Can you see how these deals manipulate your behavior and your way of spending?
Don’t browse for fun
Doing time pass on e-commerce websites is not good for your wallet :). The basic principle of economics is that “Supply creates its own demand” and with the mobile apps retailers are trying to create an ecosystem where you can purchase on just one click. With discounts, they are creating an environment of instant gratification and by giving money back guarantee and replacement guarantee, they are removing the fear for online shopping.
But the at end due to all these factors, people are buying things which they just don’t need at all and creating the big pile of junk at their home. So just make sure you do not browse for fun, because you will surely come up with some reason on why you need that product you just saw.
Let me know what do you think about this article? Also share some more tips which you personally use and you think can be shared with others as well 🙂
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60 replies on this article “16 incredible money saving tips for online shopping”
Great article. The offline shopping price comparison website was new for me. Thanks much.
Glad to know that Aravind ..
Also worth sharing list of sites to keep away,my first black list is Naaptol.They sell cheap products with never heard shipping charges for all items.
Thanks for your comment Rajesh
This is a very useful and informative article!
Dear Manish Sir,
Very nice article, I am regular reader of your articles.
I would like to know when you are going to plan your workshop in Hyderabad.
its coming up .. just wait for it !
Another very informative article to save bucks..!!
Thanks for your comment Hassan
Well said – “…..So just make sure you do not browse for fun, because you will surely come up with some reason on why you need that product you just saw.”
Another great article! Thanks for sharing!
Glad to know that Spicerjet ..
when u don’t have any promo codes , Use http://styleupindia.com/, they share the referral fee that they get from these sites. you will need to go to that site via styleupindia and enter your invoice details so that they don’t have issues claiming the referral fee.
Also you can use the referral bonus on sites like Uber, Tiny owl etc to get your friends a discount getting a similar cashback in their wallets.
Thanks for your sharing your valuable comment on this topic. Please keep sharing your views in future also
Nice Article Manish, Thanks!!!!!!!!!!!!
Thanks for your comment Paresh
Pro tip for book my show is misleading …as they allow only one transaction per week for cashback
I was talking about the instant discount part
Hi Manish!! Well articulated and very informative. Very good article.
Thanks for your comment Dileep
Thanks for a very informative article, I will keep these tips in mind when I purchase something online in future
Thanks for your comment Cherry
Nice written article.
All these e-commerce companies and different coupon sites have made a cartel where customers don’t know the profit margin of their products. Really what they offer us as a cashback or coupons sometimes happen to be a illusion and one can get great offer when the same product is purchase d offline.
Very true ! .. I suggest one should think of the final price and see if they are able to afford it or not
Nice article manish keep it up.
Thanks for your comment Mandar Baviskar
Very correctly said Manish. One has to realise that if he/she starts buying unwanted items, then one day it will end up selling wanted items
Thanks for your comment S SATHISH KUMAR
Wouldn’t it be risky to dole out the bank details?
Thanx & regards.
Bank Details to redeem cashback for Ebay Purchases
Bank Name :
Acc Number :
Bank Branch :
IFSC Code :
General Details to redeem cashback for Ebay Purchases
Your name :
Phone Number :
Register PaisaPay ID of your purchase
PaisaPay ID :
PaisaPay Submitted by you :-
Truly speaking thats something you should decide . I personally dont think there is any issue . You are giving account number and IFSC code and not some password or code or OTP details .
Brilliant article! Covers all aspects of Online shopping – What, when, how, where and most importantly What not!
Glad to know that Ritesh ..
very helpful article….thanks a lot manish….
Just to add.. during checkout, Buyhatke extension also provides coupons available on the product from any source online.
Thanks for your comment Vikrant
very useful article. I didnt know regarding the chrome extension to get a better deal.
Now a days it would make sense to also enquire the price at the local store since i find that most of the things being sold on flipkart/amazon etc are more or less matching with the brick and mortar store prices. (It wasnt like this a year or two back)
Thanks for your comment George
Good article. .Thank you.. Are these website safe for online shopping? specially if one is using ur credit or debit card directly instead of using any wallets for purchasing any item? (Cashkaro )
You dont buy from them . You just visit the main website via their link . Thats all .
Awesome article..thank you for sharing such information.
Thanks for your comment naveen
Nice article, it’s a useful information Thanks to Mr Chandra Sekhar Badam who introduced me.
Glad to know that Srinivasa Rao Busala ..
All your articles are informative and focussed to help others. Pl. continue your good work.
Thanks for your comment Samraj
Awesome article!! I loved mysmartprice.com site.
Glad to know that Nainesh ..
Already using all the listed tricks..and getting benefited… However… Please keep on sharing…thanks for the article.
Glad to know that Abhishek Raval ..
Glad to know that Abhishek Raval .. Glad to know that Abhishek Raval ..
I agree with Muthu about use of consumer analytical tools. I have experienced this while booking hotel online. The more one search for any location or any specific hotels the more the price for that was increasing.
I have read that similar kind of analytic is also used in airlines industry & there are some websites which do provide the highly discounted rates for last minute booking.
Thanks for your sharing your valuable comment on this topic. Please keep sharing your views in future also
Always make it a point to read the articles from jagoinvestor.
they help an extra mile in trying to reach the horizon.
beautiful article I must say
Glad to know that Fareed ..
From my experience, there is one more point that can be added. Consumer analytics: For instance, when I was planning to buy a mobile phone, I was having both Amazon.in and Flipkart.com opened up in the same browser and was comparing the prices between the websites. During my first search, the phone costed 15000 in Amazon and 14500 in Flipkart. I searched for the same phone in another website for the price and came back to the flipkart page and refreshed it. Immediately the price changed to 16500.
Closed the browsers and reopened the flipkart page again after sometime. The price again was 14500. When I checked with one of my friend, he said all the eShopping sites use something called Consumer analytics and the price changes based on how many times a customer hits the product, in how many sites we compare the prices etc.
Anyways, its a good article at this point of time as the online shopping have changed the way a consumer buys an item. Convenience redefined
Thanks for sharing your experience with all of us. It was a great learning.
I am not sure if these sites have consumer analytics but what could have happened in you case, as per my guess, is that there might be 2 sellers selling the same phone on Flipkart, one for 14500 and another for 16500. When you refreshed on Flipkat, the stock with the seller selling @ 14500 might have got over and it would show the price from other seller who has the stock.
Later, the first seller could have updated the stock and you were able to see the product for 14500 again.
Superb article.. most of the tricks I am already using..Thanks for coming out with this 🙂
Glad to know that Samir ..