Impulse Buying on Online Marketplaces Can Wreak Havoc on Personal and Family Budgets.
Online shopping expert Dmitriev provides tips to prevent impulsive online purchases
Navigating the world of online shopping requires a keen eye and a level head, according to Nikolai Dmitriyev, an expert from the "MyFinances.rf" project affiliated with the Russian Ministry of Finance's NIIFI. In his opinion, purchasing something just because it's on sale is generally a bad idea.
"Draw up a shopping list in advance and stick to it like glue. Avoid getting sucked in by marketing gimmicks designed to whip up a frenzy, such as 'limited stock' or 'flash sales,'" Dmitriyev advises.
Moreover, it's essential to exercise caution when it comes to add-on services or bundles during the checkout process, the expert points out.
"Even though a bundle might appear enticing, there's always the risk of ending up with something you didn't need. For example, when buying headphones, you might be offered mobile accessories, chargers, or cases as add-ons," the specialist cautions.
Be sure to inspect the order form carefully before finalizing your payment - uncheck any accidental boxes or consents to prevent unwanted charges.
"Don't hurry during the payment process - haste can lead to mistakes. When considering additional services, take the time to read their terms and conditions thoroughly before making a decision," Sputnik radio quotes Nikolai Dmitriyev.
In addition, read: Expert Dmitriyev shares secrets of smart spending on online marketplaces.
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Tips for Rational Spending on Online Marketplaces:
- Analyze Your Spending Patterns: Study your spending habits on online marketplaces to find areas where costs can be reduced.
- Utilize Discounts Wisely: Take advantage of discounts and seasonal promotions to save money, but avoid unnecessary purchases.
- Compete on Price: Understand market pricing for products and adjust your prices accordingly to stay competitive.
- Optimize Procurement: Choose quality products or services at reasonable prices based on your spend analysis.
- Build Strong Relationships with Sellers: Negotiate better deals and terms with sellers, especially when purchasing in bulk.
- Employ Efficient Payment Systems: Use reliable online payment systems that minimize transaction fees and currency exchange losses.
- Stay Informed: Keep up with marketplace trends and changes in demand to optimize your spending strategies.
- Nikolai Dmitriyev, an expert from the "MyFinances.rf" project, advises drawing up a shopping list in advance and sticking to it to avoid impulse buying on online marketplaces.
- When placing an order online, it's essential to be cautious about add-on services or bundles, as Dmitriyev points out, since these might include items you don't need.
- To prevent unwanted charges and mistakes during the payment process, Dmitriyev suggests inspecting the order form carefully and taking the time to read the terms and conditions of any additional services.
- Personal-finance expert Dmitriyev adds that building strong relationships with sellers and employing efficient payment systems are important strategies for smart spending on online marketplaces.
