Diwali is here and so are the festive discounts. While substantial discounts on various e-commerce sites and stores may be enticing for you, you need to know the tricks and tips to get the best deals during Diwali. Here are some of them.
1) Categorise your budget into different spend categories
Before you tap into your festive shopping spree, prepare a budget. A clear understanding of your budget will help you maximise your savings during Diwali 2023. “The festivities often bring various expenses, including gifts, decorations, sweets, etc. A detailed budget lets you determine how much you can comfortably spend without straining your finances. It’s a practical approach to avoid the temptation of overspending. With a predefined budget, you can shop confidently and make well-informed financial decisions during the festive season,” says Gaurav Chopra, Founder & CEO of IndiaLends.Once you are sure about your overall budget you need to divide your likely expenditure into different categories like apparel, home appliances, electronic gadgets, fashion accessories, dining, grocery, entertainment, travel, fuel and so on. This will help you later in searching and comparing various offers and deals that you can get in specific spend categories.
2) Compare the product price, both offline and online
Gone are the days when online discounts were so big, that offline retail stores could not match them. Nowadays it is not unusual to get a matching discount even in an offline store. So before placing your order, you need to compare online prices first. There are many websites and apps such as Smartprix.com, pricee.com, xerve.in, mysmartprice.com, pricedekho.com and so on, that can help you get the best price for your favorite product and categories, and even make the purchase online.
However, if you want to check the physical store, once you have verified the best online price you can visit the nearest stores and see if you can get a similar or better product or offer there. 3) Use your bank offers for Diwali shopping
Several banks have announced festive offers for Diwali 2023. While shopping online or offline, you can see if your bank is offering any discounts on the product you are planning to buy. Don’t just go by the messages your banks send. Check the website to get a clear understanding of the deals and discounts your bank is offering this Diwali. You need to calculate the net benefit of any deal that you get. If you are getting your product financed through EMIs, then do not forget to compare the total cost by adding interest cost, processing fee, convenience fee or any other charges. Sometimes lenders may hike the interest rate and offer zero or low processing fee and vice versa. Comparing the overall cost will give you the right picture to take a final call. A little bit of planning and preparation can help you save big during this Diwali.
Also Read: Diwali offers 2023: Check SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank offers to get the best deals, discounts
4) Use credit cards for more offers, savings
Many times, something on your Diwali purchase wishlist will not have any discount if you buy it by paying from your bank account via Netbanking or UPI or debit card. However, it may be offering a good discount on a specific credit card. If you have that credit card, you may be better of using it for your Diwali shopping. Several banks have introduced offers on their credit cards. You can take advantage of them while purchasing gifts for Diwali. You will also get an interest-free window to return your money. However, avoid the temptation to overspend.
5) Cashback credit cards can save more
Cashback credit cards present a great opportunity to enhance your savings during Diwali. These cards are often affiliated with specific retailers or brands. When you use them at partner stores, you can earn extra cashback or rewards. “If you frequently shop at a particular store or online platform during the festival, consider getting a co-branded credit card associated with that retailer. Keep an eye out for limited-time offers by co-branded cards during the festive season,” says Chopra.
Also Read: 7 credit cards for best cashback deals on online, offline shopping this Diwali
6) Use CashKaro and CouponDunia to get additional discounts, cashback
Instead of directly shopping from the e-commerce platform, you can visit any of the third-party cashback websites, such as GoPaisa, CouponDunia, and Cashkaro that offer discounts and cashback offers on your spending. All you need to do is sign up on any of these sites, check various offers on the e-commerce sites that you want to shop from, and choose one. It will redirect you to the online shopping website and you can shop from there. You will get additional cashback for shopping through these third-party platforms. Do check the terms and conditions carefully before you start purchasing.