This is not a sponsored post.
By Phong Vu, CEO of DealScience.com
Many consumers see a retailer’s marked down price versus the original selling price and believe they’re saving a lot, but it literally pays to know what the numbers behind the deals mean.
Some retailers have been accused of showing inflated retail prices to make their deals look better. More often than not, they are showing the actual manufacturer’s suggested retail price (MSRP), but no one actually sells that product at that number. Based on research and insights from DealScience.com, five simple steps can help you uncover the deals from the duds.
Step 1: Look at the retail price relative to the store price. If it’s below retail, than this is your first signal that it may actually be a good deal.
Step 2: Do a price comparison on the product. Sites like Google Shopping and PriceGrabber provide an easy way for you see what products are selling for at multiple retailers. More often than not, most retailers have pricing that is similar (even if they are all below retail).
Step 3: Check out Amazon (if you’re not already there) and check the price point on their site. They are almost always competitive. When you see a product well below Amazon price, it’s usually a pretty good deal.
Step 4: Once you have a sense for what most retailers are selling the product for, look for coupons on sites like DealScience.com that can help you uncover additional ways to save. It’s quite common for stores like Kohl’s and Macy’s to issue coupon codes on specific categories of products. You may be able to snag another 20 percent off of something that is already marked down.
Step 5: Remember to compare the “out the door” price, which includes shipping and tax. This will help you determine how to get to the best available price for a particular item.
DealScience.com is a platform that helps consumers shop more intelligently by predicting where and when the best deals are likely to happen. Using historical data and cutting-edge shopping intel, DealScience.com delivers the best insight about current and future offers to help consumers make better purchase decisions today and know how to save more tomorrow.