Money Saving Tips for Online Website Purchase In the Face of Inflation

Money Saving Tips for Online Website Purchase In the Face of Inflation

As e-commerce veterans, we closely examine the pricing mythologies on major selling platforms and come up with some money saving tips for online shoppers in the face of persisting inflation.

  1. Dynamic pricing

For brick-and-mortar stores, changing price tags is not a small expense, but not so for cyber vendors. A major online platform maintains dynamic pricing systems, meaning the selling prices are enabled to change automatically and rapidly according to the competition. The listed price of an item on that platform may increase or decrease even within an hour. If you want a high-value item online, keep monitoring the price of that item for a period of time until you find the most comfortable price point. 

  1. The Long-time sellers are able to offer more cost-saving

Many know the dangers of a brand-new seller, but not many know the benefits of long-time sellers. On the operation front, long-time sellers are able to source quality products at lower costs. Like us at Hundredfold, we know our suppliers by name and exchange holiday wishes each year. We also enjoy credit terms from our suppliers. Credit term means a free loan, which does not have any interest cost on a large purchase with delayed payment. Eventually, the saving will be passed on to the customers. Shoppers may find a seller’s history on the seller’s profile or the “About us” page.

  1. Wait 72 hours before you buy an item

One article by the name of “100 ways to slightly improve your life without really trying” in The Guardian suggests: “On the fence about a purchase? Wait 72 hours before you buy it”. Enough said, wait 72 hours after you put the item into the shopping cart.

  1. Don’t rely on an advertisement to make a purchase

Prepare specific keywords for a product search, and then click on a real item instead of a sponsored link or a promotion. An ad campaign is a cost, creating an ad is another cost. Hiring a click farm for web traffic is not uncommon by certain vendors. All those costs will inflate your final price.

Finally, we acknowledge that there are many variables under a price tag. You may need to do market research for a major purchase. The more knowledge you have about a product, the more likely you make a sound decision.

The Ultimate Saving Tip: Less is more

The business basics are the same for both online and offline transactions. For example, the law of supply and demand plays a key role in pricing, and trusted businesses survive and thrive. If the price of an item is much lower than the current market price, it is likely to be a scam. The principle of “When in doubt, throw it out” holds true for your shopping cart.

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