Do you ever suffer from #FOMO when shopping? For those not up to date on the latest lingo, the hashtag acronym, #FOMO, stands for the" Fear Of Missing Out". For some, #FOMO strikes while having to work on a Friday night, worrying that the greatness of life is happening without them. For savvy shoppers and frugalistas, #FOMO manifests itself in a state of anxiety throughout the purchase process.
Worries of missing out on the best possible price can result in crippling inaction, causing shoppers to miss their window of opportunity on the best deals altogether. In order to combat "deal #FOMO", use the following techniques to ensure you secure the best possible price… before it passes you by.
Comparison Shop Online
Prior to visiting the store, get online to do some comparison shopping. Comparison shopping websites aggregate prices from top retailers in one convenient location. That's right no more driving across town to check prices at all the big box stores. You don't even need to open ten tabs in your browser. With the emergence of these one stop shop comparison shopping sites, the search for the best deal is made simple. Money Saving Pro offers a comprehensive Price Comparison Website Review. Spoiler: We recommend PriceGrabber for the most variety of vendors and up to date deals.
Comparison Shop In Store
You don't have to miss out on deals just because you forgot to check your computer before heading to the store. Thanks to the emergence of smartphones and the subsequent cornucopia of apps, all the tools for comparison shopping can conveniently fit in your back pocket or purse. Use a barcode scanning app like RedLaser to compare prices for the same product online and in stores near you.
Note: To combat this common consumer practice, some retailers have implemented store specific barcodes that apps can't scan. You may have to do a little more in depth research, like a manual Google or price grabber search, to find the best deal near you.
Ask For a Price Match
If a quick barcode scan or online search reveals a cheaper price for the same product in another location, save yourself time and energy by asking for a price match in store. Some retailers may even offer to beat the price. For instance, Staples is offering a 110% price-match guarantee on all back to school items this year. That means customers will receive an additional 10% discount off the difference between the Staples price and the competitor price!
Set a Price Alert
If all of your research fails to yield your target "buy" price, set up a price alert with the RedLaser or PriceGrabber app. If the item gets marked down to your desired price, the app will let you know so you can snag it immediately.
Keep Your Receipts
If you've done your due diligence by checking all the aggregators and using all the savvy shopping apps and the price still drops post purchase- make sure you hold onto the receipt. Some retailers will offer a retroactive price match.
With all of these strategies in place, you're sure to maximize your overall savings, allowing at least some of that "deal #FOMO" to subside.