This coming Monday is Cyber Monday - the biggest day of the year dedicated to online shopping. Devised by marketing companies in 2005, Cyber Monday is meant to be the online component to Black Friday: retailers offer incredible deals, for the most part, while supplies last. Instead of braving rampant door crashing crowds, though, you can conquer Cyber Monday with some quick clicking and a good plan. Here are our top seven ways to prepare for Cyber Monday.
Tip 1. Make A List
It’s easy to overspend, especially when you’re shopping online. Luckily, though, these deals are coming at an opportune time - the holiday season, and all the spending it entails, is coming up quick. Make a list of the gifts you’d like to give (and maybe include something for yourself). Although it won’t be easy, stick with your list.
Tip 2. Know Your Financial Limits
The list is your starting point - it's really important that you stick to a budget as well. Know how much you can afford to spend and call it quits when you reach that point – even if you don’t get everything you want to get. It’s not a deal if you pay interest on it for months, right? While you’re at it, consider the credit card you're using to score these online deals. For example, if you're on the hunt for rock bottom electronics prices, try a card like the MBNA Sony MasterCard. It offers 2,000 Sony points after your first eligible purchase and has no annual fee.
Editor's Tip: Scoring this card will also enter you to WIN a PS4 or gift card.
Tip 3. Comparison Shop
Comparison shopping online is fairly easy. Keep your list handy and be sure to make notes. Know which sites offer the best deals, especially on those big-ticket items. Finally, be sure to check out deals where you save more the more you spend. It might be worth it to buy more on one side, especially if they offer free shipping over a certain amount spent.
Tip 4. Choose Secure Sites
If there’s one piece of advice you should heed, it’s this: before plugging in your credit card number and making that purchase, make sure the site you’re on is reputable and secure. To determine whether or not it’s safe, simply look at the URL. If once you hit the checkout there’s no “S” on the end of the “HTTP,” be safe and choose to pass the deal up.
Tip 5. Read The Fine Print
Sure, it might be a great deal, but read the fine print and you’ll see those savings aren't as great as you thought. Some sites add taxes, shipping and handling fees, duty and shipping costs to the total cost. Often you could buy the same item down the road for much cheaper.
Tip 6. Start Early
In the days leading up to Cyber Monday, more and more deals will become available. If you want to find the best ones, do a daily search, and start now. Trying to find the best deals on the day of the sale will create panic and likely lead to overspending. Be prepared.
Tip 7. Print And Save Receipts
Finally, make sure you print all receipts after purchasing an item online. If you can’t do that, at the very least take a screenshot. With all those people shopping online, mistakes can happen. You’ll want to have proof that you actually made the purchase.
Where To Find The Best Deals
Most of the major retailers in Canada host Cyber Monday sales. To find the best deals, simply Google “Cyber Monday Canada”. Shopping within Canada will save you on international shipping rates, duty and in some cases, taxes. For deals on electronics, try sites like Future Shop and Best Buy. Although the focus is currently on Black Friday, RedFlagDeals.com is currently sharing Cyber Monday deals as well. Finally, try our Cyber Monday Canada page for the latest deals.
