Buying smart is a way of shopping that helps consumers save money, time, and energy.
Buying Smart is about being mindful of where you shop, shop, and buy products. It is about being conscious of your spending decisions and ensuring that those decisions are based on good value for your money.
To buy more intelligently, you must know the buying considerations before making any purchase.
Buying intelligent means, you don’t waste money on products and services that don’t make you happy. To buy smart, you must know how sellers try to trick consumers.
Some of these tricks are: –
- If you see a salesperson coming toward you, avoid them. They’ll try to talk you into buying something that’s not in your price range.
- If you see a sign that says “last chance” or ” last day,” the store will likely close in a short time, so be prepared to pay for the item you want.
- Be aware of pricing strategies. Stores will offer products on their website at a lower price than they sell in their stores. They may also offer discounts to entice people into buying online instead of in their store.
- Some online stores have a limited selection of products, and these items are priced higher than the full range of products in the store.
Some Strategies to Buy Smart
Buying wisely can save you ten or more percent of your annual income. That sure beats trying for a 10 percent raise that may or may not be received. Savvy buyers should practice the following habits:
Do Not Buy on Impulse
Buying without fully considering priorities and alternatives is called impulse buying. For example, let’s say you’re looking for a laptop computer and decide to buy one on sale at a discount store. While at the store, you pick up two accessories you had not planned to buy. The extra amount spent on the unplanned purchase ruins most of the benefits of your careful shopping for the computer itself.
Paying cash whenever possible can save money in two ways. First, it helps control impulse buying, a temptation when paying with a credit card. Second, using credit adds to the cost of items you buy.
Buy at the Right Time
You can save 5 to 10 percent a week on food simply by stocking up on advertised specials. New cars are least expensive at the end of the year and the model year. Many items, such as sporting goods and clothing, are marked down near certain holidays and at the end of each season. But be confident that what you buy on sale is something you will use.
Do Not Pay Extra for a “Name”
Buying generic and store-brand products represents an excellent way to save money. Generic products are sold under a general commodity name rather than a brand name such as HUL, P&G, etc. Store-brand products, such as those sold by Amazon, and Flipkart, are made by brand-name manufacturers. Gasoline, vitamins, medicines, laundry and other soaps, and many grocery items are all products with minor quality differences.
Recognize the High Price of Convenience
Buying a few items daily at a convenience store rather than using a shopping list during a weekly visit to a supermarket can raise food bills by perhaps 30 -50 percent. Shopping for furniture and appliances in one’s local community may be convenient, but better prices on the same items may be found in larger, more competitive shopping areas or online.
Buy Smart Online
Some of the tips and ways of becoming a smarter online shopper are: –
- Use only secure sites. A secure site will feature a key or lock symbol on its screens or have a URL starting with “HTTPS” (“s” for safe). Sites displaying the VeriSign symbol must meet specific security standards.
- Only do business with sellers for which you have complete contact information, including a “snail mail” (postal) address and telephone number.
- Review shipping policies and costs as well as return policies before placing your order.
- Never use a debit card for online purchasing. When the debit card transaction is executed, your cash is immediately transferred to the seller’s account. It may not be easy to persuade a seller to give you a refund when you pay by debit card. Purchases made via credit cards give you more protection because you may be able to ask that a purchase be charged back.
- Print and keep copies of all purchase documents, warranties, credit card authorizations, and shipping notices.
- Use only one particular credit card for online purchases. This practice will serve you well if your account number is stolen. In such a case, you can notify the one credit card issuer of the theft and block the card’s future use without affecting your other accounts.
- Opt out of any list that sellers might use for data sharing.
- Do not use your regular e-mail address. Set up a separate email at Yahoo!, Hotmail, or other providers and use it solely for online transactions. This will reduce the spam coming into your everyday e-mail account.
How Can AI Assist You in the Shopping Process?
AI assistants have been around for a while and are becoming increasingly popular in the workforce. There are three ways that AI can assist you in your shopping process:
- A shopping assistant can help you find the best price for an item.
- A shopping assistant can be used to find the nearest store with an item on sale.
- A shopping assistant can help you compare the prices of items online and offline.
What are the Best AI Shopping Assistants?
AI shopping assistants are becoming more popular. They can help us find the best deals on products and services without any hassle.
Cortana, Google Assistant, and Amazon Alexa are the best AI shopping assistants. Each has its strengths and weaknesses, but they all offer a similar range of features.
Conclusion: Mastering Your Smart Buying Process and Making Deals
The smart buying process is all about controlling your buying decisions. When you own your buying process, you can ensure that you make the best decisions for yourself. This way, you can build a memorable buying experience and stays profitable.
The leading companies worldwide have realized that customer buying experience is the key to their success. The customer journey is not just about giving them a good product or service. It is about creating a personalized experience for every customer.
Companies have invested heavily in technology tools such as chatbots, voice assistants, and AI writers.