8 Tips for Finding the Best Deals Online

By Stacey Leasca. May 08, 2023 · 6 minute read

This content may include information about products, features, and/or services that SoFi does not provide and is intended to be educational in nature.

8 Tips for Finding the Best Deals Online

If you’re like many people today, one of your main modes of shopping is online. It’s quick, it’s convenient, and it’s sometimes even one-click easy. But, like purchasing in any other manner, you’ll want to make sure you are getting the best deals online. Why pay more than you have to?

Read on to learn some clever hacks that will help you get the best possible deals when shopping online.

Ways to Find Deals Online

1. Finding the Right Coupon Codes

Coupon codes are lurking all over the internet to help people find the best deals at their favorite retailers. For example, many online retailers will give customers a little discount for newsletter signup or for their first purchase. Others hide discount codes, but a simple Google search can yield great results for coupon hunters.

An easier way to dig up coupons to online retailers may be to search on coupon websites like RetailMeNot or Coupons.com.

Digital shoppers also can try downloading Chrome extensions like Honey, which automatically searches the internet for the best discount codes and applies them at checkout.

Recommended: 7 Budgeting Methods to Try

2. Using Free Shipping or In-Store Pickup

Online shopping tips don’t stop at coupons. Another way to save is to find free shipping options. If you don’t need an item ASAP, free shipping is typically an option at checkout.

Many online retailers also offer free shipping with a minimum order amount. To find free shipping deals and codes, check out websites like FreeShipping.com.

Another option may be to order an item online and then pick it up at the store for free. If it’s close enough to grab in person, it may be worth it to avoid shipping costs altogether.

💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.

3. Giving a Price Watcher a Go

Consumers who aren’t in a rush to purchase an item may be able to take advantage of price tracking tools. Price tracking tools help shoppers stay informed about price drops and sales so they can click “buy” at just the right time. These might even be able to help you be more patient if you are an impulsive shopper. Knowing that a better price may be in the offing could help you slow down.

Apps like Honey have tools like Droplist that allow consumers to save items for later and be informed when an item on the list has a price drop.

Other apps like CamelCamelCamel track prices on Amazon, and PriceBlink will find even more deals across the Web, too. It works by showing how much an item costs at several online stores so shoppers can pick the best one.

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4. Trying Online Price Matching

Many larger retailers like Walmart and Target participate in price matching programs, which means if you find a price at one retailer you may be able to get it at another.

This used to mean bringing in a printed coupon or proof that the product was on sale for a lower price at a different retailer, but now, it can all be done online. All a shopper needs to do is reach out to customer service, which may be able to help out.

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5. Checking Reviews

To get the best deal when shopping online, you’ll want to be sure you are getting the best product. And one way to do that is to check online reviews. Customers all over the internet leave reviews on products they’ve purchased, alerting others to potential issues or potential great buys.

On websites like Amazon, search for “verified purchase” to know that the review is legit. While online reviews should be taken with a grain of salt, they are one more tool to add to your decision-making arsenal for online shopping.

Before purchasing a product, is it really something you want or need, or will bring joy? If so, check reviews to make sure it’s the perfect fit before clicking “buy.”

💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

6. Waiting for Bigger Sales

Throughout the year, larger retailers will likely host online shopping sales. These sales are known to occur around the holidays, specifically on Black Friday, the day after Thanksgiving, and Cyber Monday, the following Monday, a day that’s packed with online deals.

Other major sales usually occur around holidays like Presidents Day, Memorial Day, and Labor Day, as well as midsummer. During this time, you may be able to score major discounts, so if you can wait for a purchase, try to hold off until then. Knowing that deep discounts are coming could help you avoid shopping out of boredom. It gives you an incentive to wait.

One more “holiday” to keep an eye out for is Amazon Prime Day. During the sale, retailers across the website offer steep discounts on products.

However, to get in on the deal, you must be an Amazon Prime member, which comes with a subscription. But Amazon Prime members get free shipping on most products, which can add up in the long run.

7. Following Favorite Brands on Social Media

One more way to potentially find the best deals online is to follow brands and retailers on social media. Brands love to give their loyal customers something special, so they may share insider discounts and offers on their social media pages and newsletters before anywhere else.

Give your favorite brands a follow on Twitter, Instagram, or Facebook to stay aware of when sales may be happening, and maybe get inspired about new things to buy along the way, too. Just be sure when you are purchasing that you are on the verified account of the brand. There are some scams out there that you’ll want to avoid.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

8. Earning Cash Back for Purchases

If you’re not interested in having to do all this legwork to get a good deal while shopping online, there is another option: Use a credit card that gives you cash back. You may even be able to bundle and increase the credit card reward if you shop online at specific retailers at certain periods of time.

The Takeaway

Shopping online is already, as you undoubtedly know, quick and easy. But there are ways to make it even more affordable, by tracking prices, using coupon sites, and knowing when to purchase to get the lowest possible price. By deploying these and other hacks, you can get the goods you want at the most budget-friendly price.

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