Beware of Spaving: How to Make the Most of Online Deals Without Overspending
Friday Frenzy
More than any other day, online shopping discounts reach their peak on Fridays, a recent report found.
The Science Behind Online Deals
Coupons have come a long way from Sunday circulars. And for consumers stretching to make ends meet, they are as indispensable as ever. Now, with online codes, browser extensions, and money-saving apps, there are more ways to find significant discounts at any time — but how good the deals are still depends on the day.
When to Expect the Best Deals
Overall, Friday is the best day for consumers to save money while shopping online, according to a recent study by SimplyCodes. The site assessed coupon release patterns in marketing emails from 30,000 merchants between March and July. As payday approaches, there is a notable uptick in coupon activity, especially for women’s clothing, skin care, and alcohol.
Roughly 52% of coupon codes are released between Wednesday and Friday, before the weekend lull, when fewer new coupons are sent out. On Friday alone, the number of coupons released jumps 19%
Beware of Spaving
Whether it’s a "limited-time deal" or "buy one, get one free" or simply free shipping, the couponing opportunities are almost overwhelming. But the lure of a good deal can also lead to excessive buying habits and high-interest credit card debt if you aren’t careful, said consumer savings expert Andrea Woroch.
Avoiding the Pitfalls of Spaving
- Before you buy, consider whether a deal is really worth it.
- Avoid filling your cart with items just to reach a free shipping threshold.
- Weigh the overall savings of a deal against the potential cost of shipping.
How to Make the Most of a Deal
If you are planning a big purchase — or any purchase at all — sign up for a store e-newsletter and mobile alerts, or follow brands and stores on social media to get a coupon for in-store or online savings.
Tips for Smart Couponing
- Use a price-tracking browser extension such as CamelCamelCamel or Keepa to keep an eye on price changes.
- Apply a coupon on top of an already discounted item.
- Look for coupons only when you need them with a browser plug-in such as SideKick.
Conclusion
Friday may be the best day for online deals, but it’s essential to avoid the temptation to overspend. By being aware of the pitfalls of "spaving" and following these tips for smart couponing, you can make the most of online discounts without breaking the bank.
FAQs
Q: What is the best day to find online deals?
A: Friday is the best day to find online deals, according to a recent report by SimplyCodes.
Q: How can I avoid overspending while using coupons?
A: Avoid filling your cart with items just to reach a free shipping threshold, weigh the overall savings of a deal against the potential cost of shipping, and use a browser plug-in to look for coupons only when you need them.
Q: What are some tips for smart couponing?
A: Sign up for store e-newsletters and mobile alerts, follow brands and stores on social media, use a price-tracking browser extension, and apply a coupon on top of an already discounted item.
