I’m a Gen Z Online Shopping Expert: How I’m Saving Hundreds on My Holiday Shopping
The holiday shopping season, which began at the start of November and is expected to continue through the rest of the year, is in full swing. This year, the National Retail Federation (NRF) predicts that consumer spending will increase by 3% to 4% to $957.3 to $966.6 billion. This range includes both online and in-person shopping.
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For those who are looking to save money on their online holiday shopping, it’s best to turn to the experts. And some of the most technologically savvy, budget-conscious spenders out there are Gen Zers — anyone born between 1997 and 2012.
GOBankingRates recently spoke with two Gen Z online shopping experts, Matt Carlson and Arsh Arora, about how they save money doing their online holiday shopping, and how much they’ve saved — or expect to save — so far. Here’s what they said.
Gen Z Savings on Holiday Shopping This Year: $100 to $255
Although the holiday shopping season hasn’t ended yet, some Gen Zers expect to save between $100 and $150 this year on online shopping. However, it’s possible to save even more money with some strategic planning and tactics.
“I personally will save about 20% of what I plan to spend on holiday shopping this year by being a savvy online shopper,” said Matt Carlson, 26, founder of ParentPresents.com, a Gen Z-centric gifting advisor and media outlet for young adults looking to save money, time and stress on gift shopping.
One recent study predicted that Gen Z consumers will spend around $1,275 on their holiday shopping in 2023. For Gen Zers like Carlson, being able to save 20% on shopping means cutting expenses by as much as $255.
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7 Ways To Save Money on Online Holiday Shopping
But how exactly do Gen Zers save money on online holiday shopping? According to Carlson and Arora, it’s through a combination of strategic planning, social media influencer partnerships, loyalty programs, cash-back apps and other online technologies.
Online Coupons and Promo Codes
“As a Gen Z online shopping expert, I understand the importance of finding ways to save money on holiday shopping,” said Arsh Arora, the founder of TV Schedule Today. One such method is to leverage online coupons and promo codes.
“Online retailers often offer exclusive discounts and promotions during the holiday season. By diligently searching for coupons and promo codes on websites or using browser extensions that automatically apply discounts at checkout, you can significantly reduce your overall spending,” said Arora.
Direct-to-Consumer E-commerce Sites
The direct-to-consumer (DTC) e-commerce business model is one in which companies cut out the middle man and sell their products directly to consumers. This model gives businesses greater control over their pricing, and often leads to lower prices.
For Carlson, this is a useful tactic that’s allowed him to maximize his savings on online holiday shopping.
“Once you find the item that you want to buy, always check to see if they have their own online shop. Many businesses offer exclusive discounts when you purchase items through their online stores versus purchasing from Amazon or another third-party retailer,” said Carlson. “You can take advantage of things like first-time customer discounts of 10% to 20% (sometimes even more) on their store by simply giving an email address.”
Cash-Back Apps and Loyalty Programs
Another way Gen Zers save money on online holiday purchases is through combining loyalty programs and cash-back apps.
“Many online retailers have loyalty programs that reward frequent shoppers. By signing up for these programs and taking advantage of cash-back apps, you can earn points, credits or cash back on your purchases,” said Arora. “These benefits can add up over time and be used to offset the costs of future shopping trips.”
Coupon Platforms
Using coupon websites can also help you cut costs this holiday season.
“To further maximize my savings, I’ll always check coupon websites like Groupon, RetailMeNot and CouponFollow,” said Carlson. “These platforms [offer] digital coupons that you could use during online checkout, securing discounts on your purchases.”
Prices Tracking via Brower Extensions
Free online extensions for Chrome and other popular browsers can also help you save money on online holiday shopping, especially if they offer price tracking across different retailers.
“There are browser extensions available that automatically track prices of products on various websites,” said Arora. “By utilizing these tools, you can monitor price fluctuations and be alerted when the items on your shopping list go on sale.”
These extensions can help you buy items on your — or your recipient’s — wish list at the right time to save money.
Social Media Influencer Partnerships
Social media influencers often partner with major brands to promote their products around the holidays. These partnerships can include special promotions or exclusive discounts for those influencers’ followers or audience members.
“By following influencers in your niche of interest and staying up to date with their content, you can uncover hidden discounts or unique coupon codes that may not be widely publicized,” said Arora.
“Social media influencers played a crucial role in my holiday shopping strategy,” added Carlson. “Once you know the product or brand that you want to buy, try searching for it on platforms like TikTok and Instagram. There may be an influencer promoting the product or brand that you are looking to buy that is offering an exclusive promo code. You can then use this code to get a nice discount.”
Online Limited-Time Offers or Flash Sales
“Keep an eye out for flash sales and limited-time offers on social media or through retailer newsletters,” said Arora. “These limited-time promotions often provide significant discounts on popular items.”
You’ll need to be quick and strategic about your shopping, though. While many of these flash sales and limited-time offers have great savings potential, they don’t last.
Be Strategic When Shopping Online This Holiday Season
By combining several of these methods, you could potentially save hundreds of dollars when doing your online shopping this — and future — holiday seasons. But make sure you have a realistic budget and a strategic shopping plan. Otherwise, you could end up spending more than you meant to.
“It’s important to note that while saving money on online holiday shopping can be exciting, it’s essential to stay within your budget and avoid impulsive buying,” said Arora. “Practice mindful spending and prioritize purchases based on their value and relevance to your needs.”
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This article originally appeared on GOBankingRates.com: I’m a Gen Z Online Shopping Expert: How I’m Saving Hundreds on My Holiday Shopping
