Do you really save money?
Online shopping has eaten away at brick-and-mortar retailers. As online behemoths like Amazon gobble up more of the market share, it is easy to assume that online retailers are excelling because they are helping people save money, but that isn’t always the case. Researchers have been delving into the topic for years, and what they have found might actually surprise you.
Online Shopping Leads to fewer Impulse Purchases
Perhaps unsurprisingly, shopping online actually leads to fewer impulse purchases than in-store shopping. The snack industry has been hit particularly hard by the switch over to online shopping. Since companies like Hershey and Lays rely heavily on the checkout line to add to their coffer, they have been scrambling for new ways to get buyers to pick up their items. According to retail research, between 30% and 50% of all purchases are impulse buys fueled by product encounters. This is harder in the online arena, but companies like Amazon are attempting to fuel impulse purchases by aggregating data and showing shoppers what else they might like. If you can avoid impulse purchases, and aren’t swayed by additional products, you may save a good amount of money by shopping online.
Online Grocery Shopping Doesn’t Save Money
Peapod, Fresh Direct, and their competitors in the grocery delivery sector simply can’t offer the savings that you can find in-store, according to current research. Experts suggest that the margins are simply too thin, and online grocers often don’t have a viable way to collect coupons and have it really count to your bottom line. You are actually better off shopping for groceries in-store, and using coupons (both store and manufacturer) to offset your bill. There are thousands of people who do save a lot of money by simply putting in the work of coupon clipping. The practice simply hasn’t extended to online food shopping just yet, and delivery costs can eat into your bottom line as well.
Brick-and-Mortar Stores Do Price Match
Before you run off and make an online purchase of an item, consider the shipping costs associated with it. Unless you are utilizing free shipping, you may have your savings eaten relatively quickly, especially now that brick-and-mortar locations are offering online price matches. Best Buy, Target, Toys R Us and Sears all offer online price matching. You may score a great deal and save on shipping by simply doing the leg work. Experts suggest being wary of any store that doesn’t offer free shipping codes or coupons, as you can quickly lose all the money you saved online for the convenience of getting your items shipped.
Online shopping isn’t going anywhere. It is certainly here to stay, and it has added a level of convenience to shoppers’ lives. Instead of rushing around after work, you have the ability to sit down and order whatever you need. You can get great deals, too, but you’ll need to be careful to ensure you aren’t paying a premium for the convenience of shopping online. Always comparison shop, and make sure you are getting the best deal possible.
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