Ever find that “sweet” deal on the product you just started shopping for?
It might look something like this:
- Retail price: $297
- Sale price: $99
Is it really a deal, though? Or, is it a marketing tactic?
The truth is, it can be tricky knowing the difference. But I have a few ways to verify these “on sale” items and spot fake discounts so that you can shop smarter and keep more money in your pocket.
Retail Tricks You Should Know About
Many online retailers love to make it seem like consumers are getting a steal. However, it’s not always the case.
The key is awareness and spotting them out. Once you know them, you’ll be able to easily spot them everywhere.
Here are a few classic retail tricks that you’ll want to know about.
Fake Original Prices
“Original” prices that are fake are when retailers inflate the price just to make the sale look better. Example: “Was $300, Now $50.”
Urgency Tactics
Urgency is a tactic retailers use to get you to buy now, thinking there is a limited supply, or the “deal” will only last for another hour. Consumers get FOMO and potentially impulse buy, without knowing it could be an automated countdown.
Anchor Pricing
The anchor price is when a retailer shows a higher price next to the sale price, which makes the discount seem bigger.
Stop Falling for Fake Sales With These Tips
Retailers might be clever with their fake deals, but I’ve got a few tricks up my sleeve to outsmart them… and they work. Here they are:
Use Price Trackers to Uncover the Truth
Ever see a “deal” and thought, “wait, was that always the price?” That’s where price trackers come in. I use them often to compare previous prices and to see what the lowest price was.
If you want to check a product price at amazon:
CamelCamelCamel
CamelCamelCamel is an excellent price tracker that shows you the full price history of an item. I often find the “discounts” to be the regular price in disguise, which tells me if it’s truly a sale or just labeled one.
Keepa
Keepa is another great option for amazon shoppers. It’s a browser extension that will track price drops and will alert you when the price actually goes down.
If you have your eye on a product and you’re not sure if it’s actually on sale, check out one of these tools to see what the price history was and compare it to the current price.
Pro tip: These tools also show you the dates of when products are at their lowest price points. You can then take that information and know exactly when their sales are. All you have to do is wait until the next sale and you’ll most likely find it at the lowest price point.
Compare Prices Like a Pro
So you’ve found a product you want to buy? Before you complete the purchase we need to pump the brakes.
Why? Well, because that “big deal” might not be so big after all. And the only way to find out is to compare prices.
Here’s how I compare prices on products fairly quickly:
ShopSavvy App
The ShopSavvy app saves you time by consolidating price comparisons into one app. I like it a lot because it helps me not overpay on products, thanks to their real-time data on competing retailers.
You can scan a barcode or search the product and the app will pull up all the retailers that sell it. The app also can pull up reviews and ratings so you can access customer feedback and make an informed decision.
The free version works just fine for me, but if you’re a hardcore deal hunter, the premium features might be worth it for the added convenience.
If you don’t want to use an app:
Google Shopping Tab
Another great way to compare prices fairly quickly is to type in the product name into google, then click on the “shopping” tab. Most of the time, Google will curate the product from multiple retailers so you can see which deal is true and which ones aren’t.
Want to save even more? Learn the art of stacking discounts with price matching, coupons, and cashback to maximize your savings.
Pro tip: Make sure to check shipping costs because some retailers mark the price of the product down, but charge for shipping. While others will jack the price up, and offer free shipping.
Time Your Purchases Right
“Good things come to those who wait.”
-Someone smart
Sometimes, the best way to save is to wait. And, to avoid paying full price, you might want to wait when the sales are actually going on.
Big sale days like Black Friday, Cyber Monday, and Memorial Day are times you want to check the prices of products you’re eyeing up.
Shopping off-season is another great way to time up your purchase. Often, you’ll find summer products with a big discount during the winter months, and vice versa.
Red Flags To Watch For
Scarcity and urgency are a retailer's best friend, well, at least portraying it. They thrive on creating FOMO (Fear Of Missing Out). If you stay calm and watch for the red flags, you can shop more strategically.
Here’s what to watch out for:
“Only X Left!”
Have you ever noticed when a retailer says there’s only 3 left in stock? It’s often not true.
“Compare at *Higher Price Point”
This product is usually $200, but it’s yours today for only $49. This is usually a deal based on a price that no one has ever paid. AKA the “usual” price is inflated - major red flag.
“Today Only”
Most likely, you’ll see “Today Only” again the next day and for another week or month straight.
Check Reviews and Avoid Buyer’s Remorse
I am a HUGE advocate for thoroughly reading user reviews on multiple platforms (think Trustpilot, amazon and google reviews) I call it, Do Your Own Research (DYOR).
Read as many as you can, and read into the context. Find real photos of the product, and not from someone who was given the product for free in exchange for a review.
My last piece of advice, beware of mostly 5 star reviews with little detail behind the testimonial.
Don’t Forget About Price Matching
Price matching is an under-utilized tactic for consumers, but it’s a highly effective strategy. Have you ever seen those “we’ll match your price, guaranteed” notices on some websites? That’s because they are saying if you see a price at another store that’s lower, let us know and we’ll match that price for you here.
I’ve seen Home Depot do it, Staples, Lowe’s and Walmart.
Make sure you know the policies before bringing it up, such as time limits of price matching, clearance items or third-party sellers.
Go Straight to the Source (DTC)
One of my favorite ways to shop is going direct-to-consumer (DTC). I often find a coupon code or other perks for shopping on the brand’s website. But, more importantly, I’m getting peace of mind knowing it’s coming straight from the source.
Discounts for first time buyers, extended warranties and sometimes free gifts with a purchase are all perks shoppers can get going DTC.
I will often cover many DTC brands, including trendy DTC wellness brands to keep an eye on and raise awareness for shoppers to find awesome products at affordable prices.
Final Thoughts: Smarter Shopping, Bigger Savings
Spotting fake discounts isn’t hard once you know what to look for. Use these tips to outsmart retailers, avoid fake deals, and save your cash for the real bargains.
Remember this: Every deal you dodge that’s not really a deal means you’re shopping smarter and keeping more cash in your pocket.
Happy shopping!