Bargain hunting in hard times
Use web tools to save money and shop wisely
by Natalie Bahadur
These are tough economic times. While we eagerly wait for things to turn around, many Canadians have put their spending habits under the microscope. Knowing how to use the web to your advantage can be a real financial boon. There are many money-saving opportunities to be found if you just know where to look!
IN THIS STORY
Savvy spending online — where to start
There are lots of ways to save a buck. Try using online classifieds, sale alerts and e-coupons.
Cara Newman, editor of Young Money magazine, is a frequent user of online money-saving tools. “You can find coupons for both online shopping and in-store shopping,” she says. “You can also find codes for free shipping or discounts.” Two-day shipping can get pretty expensive, she says, and a free upgrade can save time and money.
Here are some sites to get you started.
- Sites such as eBay, Kijiji and Craigslist provide online classifieds; shoppers can find just about anything.
- Flyerland.ca offers flyers, coupons and deals for major Canadian retailers.
- Sites such as bluefly.com offer shoppers designer wares (fashion and home décor, mostly) at seriously discounted prices.
Facts and figures
According to eBay, Canadians spent over US$1 billion on eBay in 2007. Of the approximately 24 million Internet users in Canada, one in four are currently registered on the site. Tech toys and gadgets are one of the most popular categories.
Brendan Christie of Toronto has been an eBay member since 1999. He says that when it comes to snagging a bargain, the web really opens up options.
But how much money can you really save by shopping smart online? “Fifty per cent against retail — easily,” says Christie. Young Money’s Newman concurs. “You can save quite a bit of money,” she says. “Almost everything is below retail value and you can even find stuff such as shipping for free.”
It’s not just the prospect of saving money that makes online discount shopping attractive. It’s the variety, too. “Canadian retailers stock what’s most likely to sell to the general public,” says Christie. “The online shelf is infinite.” Christie can find things that are discontinued or out of stock. “There are no limitations.”
Coupons and online sale alerts
Many web sites have e-mail newsletters to alert customers to sales. Sign up for them through the store’s web site and the deals come to you. Bestbuy.ca offers visitors a weekly ad online where they can find values and sale items; visitors simply enter their postal code. Homeoutfitters has a newsletter that features special offers and promotions; visitors get 5,000 HBC Reward Points just for signing up.
Newman recommends CouponMountain.ca for up-to-date bargains. Simply click on a category (such as health and beauty, electronics, etc.) to find offers and sales on a variety of brands and products. Christie is partial to TigerDirect.ca, an online seller of computers and electronics. “They send out daily alerts and I’ve bought lots from them,” he says. “The prices are good and they have useful reviews.”
So what’s the benefit of signing up for yet another e-mail alert? The sales come right to you, says Newman. Deal notifications in your inbox can save you time walking around a mall.
Buying and selling online
“Everything I buy, I price online first, whether it’s on eBay or Craigslist or Kijiji,” says Christie. “Online sites are great research tools; you get information from people who have used the items, and they are generally more forthcoming about limitations than manufacturers or retailers.”
Christie also uses sites like these to “try” things. “Most of the items I’m looking for retain their value,” he says. “So, if I want a guitar, I buy it online, try it for a few weeks and then sell it if I don’t like it. It’s cheaper than renting and sometimes you even make money doing it.”
“I’ve also sold lots of things,” says Christie. “I was making a few hundred a month by selling online. I’ve sold furniture, appliances and guitars.”
Newman saved $75 on her Christmas shopping last year, just by using online coupons and shipping codes and by comparing prices on various web sites. The opportunities for savings are out there; you just have to sniff them out!
