THE LOWEST ONLINE PRICES, HOW TO FIND THEM AND SAVE MONEY
The e-commerce is constantly growing year by year.
An increasing number of people are daily choosing to search online for the best price, instead of the ordinary shop. This is it because it's very simple, cozy and you can get good prices. Moreover, you can almost find everything on the Internet.
If in the early 2000s books, travel and electronics were the main areas where people purchased the most, today fashion, nutrition, and body care products are growing rapidly and any kind of service from insurance to counseling through training, can be purchased online. With Competitoor, we daily analyze millions of prices from hundreds of thousands of eCommerce, and I can actually say that it is really difficult to find a product or service that it's not affordable online.
With Competitoor we are daily monitoring millions of prices in the online business and I can say that it is very unlikely not to find a certain product online.
And yet people are still struggling to exploit the potential of the web. Usually the common user checks up to 4 different websites before purchasing online, and sometimes the competition is so high that our tool collects up to 50-60 competitors with a price difference of 30%.
Here are listed different and useful advices that can help you following a better path when buying online. In this first part we are going to introduce the behaviour while the next posts will be about technology and relations.
Evolve your behaviour when buying online
Set yourself and mind in the right place because you are online now.
Now that you start tiping on Google, why only focus on the most famous products or the main results that Google is proposing you? Follow the same path of the fashion blogger or the art experts: they search for best deals or very unique pieces in every possible corner without following the traditional path.
First tip first. Every time you have the chance, just schedule your purchase. If you don't need that specific item now, you can save up to 40% by only waiting the right time. Take a look at the prices, if they end with numbers different from 0 or 9, than it's very likely that a dynamic pricing strategy has been applied to those items.
This means that these prices keeps changing over time. For instance, Amazon or any kind of airline use dynamic pricing but at the same time more and more are the websites that offers you the best price online.
By checking prices over time, not only you will see some kind of change in the price itself, but with your behaviuour you will influence the algorithm that will try to convince you to buy something by proposing you the best price it can find online.
The client has the power thanks to the credit card
If you find the website where you'd like to purchase, but you don't need to do it right now, just put the item in the wish list. You will leave your personal information and you can receive personal discounts. Most of the time you will receive an additional discount when you register yourself on the website and you can take advantage on these chances.
In the most advanced websites you could find a chat with which interact, you can ask anything and the store manager will come back to you. Usually people don't take advantage of this kind of chat because it seems like someone is following you in the online store, but what most of people don't know is that you can get dedicated/special discount. If there is no chat in the website, you can send an email and when the staff replies you you will probably have a further discount that is going to last for a short period of time.
Another more sophisticated technique is to use price comparators in a different way. Instead of looking for the lowest price of a specific product, which often comes from unreliable sites, just look for eCommerce sites that are best placed in the right category. For example, if you're looking for a notebook, look at the best positioned website in electronics. You will have to do some extra clicks but you will find names of stores that you didn't know they could offer special prices on products that are in stock but at the same time they do not appear on the comparator. By working with the best eCommerce in Europe, I guarantee that almost everyone has products that do not appear on the online catalog, but they can quickly retrieve from their suppliers. Asking is a right and anyway you will increase your knowledge for the next shopping.
Expand your horizons, the web is limitless
Competition between e-commerce is based almost exclusively on national borders. The reason is that laws and distances from physical warehouses affect shipping costs and yield policies. However, in some areas you may already find e-commerce that extends their presence to more than one country. Just think of the big east marketplaces initially born as b2b services (there were offers for raw materials and stock of large quantities) that today offer massive catalogs, even to those private customers who have the patience to wait a few weeks before receiving the goods.
This practice of overcoming borders will continue to spread because those who are good at selling online have no reason to remain locked up within a particular national state. In addition, the exchange of currency may in some cases lead to considerable benefits. For example, many italians residing in London (I know for personal experience) purchase and ship products to Italy, then retrieve them later or with a further shipment. If you think it's creazy, I tell you the story (true) of an Italian professor living in London, who bought a pair of Prada boots taking advantage of the currency exchange and the price difference by sending them to Milan.
The economic advantage was so great that he could have taken a flight to Milan and picked up the goods (and obviously go back), however spending less than what he would have spent by purchasing the same product, online, on the same site in Great Britain.
To sum up
Good standards to follow, patience and the right attitude towards the media you are in are just one of the many ways to spend less money on the internet. In the next batch, we'll talk about how to leverage technology and then how to use one of the most powerful features of the Web: the ease with which you can relate yourself to it.
Do you buy online? If you have stories about low prices found online and want to share them or just want to know more about this topic, you can find us on the social channels of Competitoor: Facebook, Twitter, LinkedIn.