How to Avoid Buyer's Remorse When Investing in Daily Deals

by Jodi Jae 13. January 2012 08:36

Sure, a helicopter ride around Chicago for nothing more than a twenty dollar bill is a great deal, but will you find the time to do it? A tour of wine country definitely sounds like fun, but does it truly interest you? And do you really have the time to use those inexpensive theater tickets before they expire?

It’s estimated that 20-30% of all daily deals purchased never get used. And while some smart shoppers have turned to selling off the daily deal bargains they bought on a whim or simply can’t use, most people are left grumbling over their poor decisions.

You can stay ahead of the daily deal game by knowing exactly what you’re doing. Here are four ways to avoid daily deal buyer’s remorse and get the most for your money.

1.  Make a list and check it twice

It’s not just Santa Claus who’s making lists and checking them twice, but wise consumers, too. A recent poll showed that about half of us are focused, attentive shoppers and the other half chases bargains around the web. Whether you’re shopping for Christmas, birthdays or yourself, it pays to shop with purpose. Make a list of the things you need so that you can focus on your needs instead of your wants.

2. Be mindful of expiration dates

All good things must come to an end, and that includes daily deal bargains. Just as grocery store coupons eventually expire and can no longer be redeemed, so do daily deal vouchers. Before buying, take note of the expiration date on the sale item and make sure you’ll actually be able to use the bargain before it goes bad.

3. Read the fine print

Time is of the essence when it comes to grabbing up the latest daily deal, but if you don’t have time to read the fine print, take a pass. All those terms and conditions dictate when and how you can take advantage of a deal, and not paying attention could mean you’ll be out some serious cash.  Hotels, restaurants and other establishments may have blackout dates or similar conditions that will prevent you from cashing in on your great deal.

4. Become an expert shopper

A weekend getaway for two to a five star hotel in Los Angeles is a steal at $300, or is it? A day at the spa is worth $100, right? If you don’t know a good deal when you see one, do your research. Websites like Pricewatch and apps like Price Check by Amazon will help you keep tabs on the current prices of physical goods, and a quick Google search can pinpoint the average price of vacation packages, restaurant service, theater tickets, and more.

The most expensive daily deals are the ones that don’t get used. Paying attention to detail and doing a little detective work can prevent costly buyer’s remorse shopping and turn good deals into great deals. 


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