80% of young people made an impulse buy online last year. It’s inevitable, and we understand that.
You’re browsing through your favorite online store and see a hot new item on sale. You have to have it, so you make the purchase.
However, the regret sets in the next day when you see the same item somewhere else for a lower price. This is where price adjustment comes in handy.
Knowing you can receive a refund if an item you purchased decreases in price is one of the best ways to enjoy new purchases without the anxiety of worrying over a future price drop.
These seven price adjustment strategies will ensure that you can take full advantage of the opportunity to benefit from price decreases.
7 Price Adjustment Strategies to Help You Save
1. Know Which Stores Have Price Adjustment Policies
Not all stores, or even major retailers, offer price adjustments.
Amazon.com, for instance, has recently suspended its previous seven-day price adjustment period.
Knowing which stores will even allow adjustments may help you decide where you make your purchase (and if the current lowest price is at a retailer that does not offer adjustments, whether forfeiting the right to qualify for a refund is worth it).
2. Understand Each Store’s Price Adjustment Time Frame
The time period after purchase that different retailers allow price adjustments during varies anywhere from two weeks to having no set policy, with many companies having a two-week to a thirty-day window.
If you’re going to try and make easy money, then make sure you don’t miss out on the opportunity to do so by forgetting to claim your price adjustment within the specified time period.
Most stores only allow a single adjustment per item but check these details, as well.
3. Research a Company’s Competitor for Price Matching
Some retailers will refund you for price drops only from certain competitors (these are often the same competitors they will price match).
If the seller will not grant you a refund for another store’s price and your item is still in good enough condition to return to the store, you also return it to the original store and purchase the same item for a lower price at the second store.
4. Look for Items That Fluctuate in Value
You should understand your product purchases well enough to know whether to expect major price changes.
Electronics could change in price by the day, for instance, while gardening equipment could stay the same price for months.
Focus your attention on the products for which you are most likely to be able to take advantage of price adjustment policies.
5. Research Sales and Pricing Trends
Retail products’ pricing cycles are cyclical and predictable. For products that have new versions released regularly, like electronics, prices will be the highest right when a new product comes out and decrease over the following months.
For perennial products like home goods, prices fluctuate throughout the year, with the lowest prices often coming at the end of the season when the product is most often used.
If you pay attention to when the price drops are likely to occur, you can enjoy a product sooner by purchasing it now and applying for the price refund (as long as it is within the price adjustment time frame), when the price decreases.
6. Install Plugins to Help You Get the Best Price
Tracking the prices of major purchases might seem like a surmountable task to do manually, but what about the countless other smaller purchases you make every day or week? It’s pretty hard to do.
That’s why it’s a good idea to install a browser extension or plugin that can help you make sure that you’re getting the best price every time.
Honey is a great way to save extra money online. All you have to do is download the extension. Then, when you’re shopping online, it will automatically browse the internet to try and find the item for a lower price somewhere else.
7. Just Ask for the Price Adjustment
If a store doesn’t have a specific policy on price adjustments (or even if the policy has changed and your purchase technically no longer qualifies), it is still worth asking for one whenever it is reasonable.
Store managers are able to adjust your price, and if you are polite and explain the reasoning for your request, some may refund you the price difference, even if it is not technically required by store policy.
Similarly, if you purchased the product from an online retailer, a willingness to talk to someone over the phone may result in a price adjustment.
What to Do When You Don’t Get the Best Price?
Weren’t able to snag the best price of an item you purchased online? That’s unfortunate, but there are other ways to save easy money!
You don’t have to rely on browser extensions or savings policies in order to save money. You deserve to be able to not only spend easily but also earn great rewards while doing so.
Cheese Debit Card can help! zero-fee debit card is packed with benefits for you, including saving interest and cashback on every purchase you make.
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