Here’s how to avoid impulse buys at online shopping festivals
New Delhi: With a decline in second wave covid cases, some e-commerce platforms have started planning shopping events.
During its annual Prime Day event in India, Amazon is expected to offer various offers and discounts to buyers. It is a two-day event that will take place on July 26-27, in which the e-commerce giant will also launch new products from top brands and MSMEs on its online platform. The offerings will be offered in different categories including smartphones, home appliances, consumer electronics, Amazon devices and others.
Even the Flipkart e-commerce platform has offered an electronics sale that is slated to go live on July 10 and will end on July 14, 2021.
Online shopping festivals could help you save on the products you wanted to buy. However, they can also lead to impulse spending due to great discounts and offers. Here are a few ways to avoid impulse buying and stick with what’s needed.
Prepare the shopping list
First, prepare your shopping list. By doing this, you will save time and be able to keep track of what you really need..Don’t buy things that aren’t on the list. If you do this, you can eliminate a lot of impulse buys. Going through this process ensures that your purchases are more deliberate.
Define your budget
If neither of these solutions works for you, try setting a budget. You can have a monthly budget for unforeseen purchases or have one for upcoming online shopping festivals like Amazon Prime Day.
Don’t fall into the trap of buying now, pay later
The fees collected appear low but can potentially become large and unmanageable if left unchecked. Missing payments can hurt a consumer’s credit rating, which is bad for the financial health of the consumer. This will impact your ability to get cheap loan from banks in the future. Personal loans are much cheaper than these services