Avish 
Online shopping has been experiencing a boom over the past few years. It was already famous because of its convenience, but lockdowns related to the COVID-19 pandemic made online shopping essential. For many, it was the only safe way to acquire most of the goods they wanted. But buying online is still growing even as lockdowns are slowly becoming a thing of the past. The U.S. sold 250 billion dollars of products electronically in the first quarter of 2022.
Unfortunately, online shopping has some drawbacks compared to the traditional method. The internet is the wild west of commerce because of the number of hackers and scams. Some nefarious stores on the internet take advantage of people’s trust. Additionally, there are often hidden costs associated with online shopping. This blog will cover some standard hidden costs you may encounter while shopping online and how to avoid them.
Hidden Costs of Online Shopping
Service Fees
When you shop at a brick-and-mortar store, you generally pay the price on the sticker. But online buying can be more complicated than that. With online buying, there are several potential extra charges that you might encounter. Service fees are one of the more ambiguous charges on the internet.
Practically anything that a company must do to complete a transaction can be tacked onto your bill under “service fees.” This includes digital processing fees, delivery fees, and hidden membership fees. With certain online services, these fees may even change depending on your location. Online retailers are not required to show you what makes explicitly up a service fee, so be careful they aren’t too expensive.
“Free” Shipping
Online shoppers love free shipping services. In fact, they love it so much that studies have shown that consumers will pay more for a product if it comes with free shipping. Unfortunately, many online retailers have become wise to this and have taken advantage of it. Some eCommerce businesses will charge more for their products to offset the cost of fulfillment. For example, let’s say a product that might cost $10 and requires $5 to be shipped to its final destination. Online stores might charge $15 for the product and offer “free” shipping.
International Transaction Fees
Another reason buying online is so popular is that consumers can purchase products anywhere in the world. The ability to purchase international products easily is fantastic, but it can become expensive quickly. International transaction fees are fees that occur when you purchase something from a country outside your own. This fee exists because card issuers must convert the transaction from the other country’s currency into your native currency. This is a separate fee from the actual conversion rate and can cost as much as 3% of your purchase.
How to Avoid Hidden Costs While Shopping Online
Compare Prices
Online buying provides consumers dozens of options to buy the products they want. Use this to your advantage and compare prices across stores whenever you shop online. Online prices can differ significantly for the same product, so visit a few stores before settling on a retailer. It is one of the easiest ways to ensure you’re paying the best price for your goods.
Use Online Coupons
Though coupons are commonly used in traditional shopping, many people forget that online coupons also exist. Sometimes, these coupons offer an even sweeter deal than physical ones. Even services crawl the internet for coupons as you’re shopping. With online coupons, you can lower the incredible prices online shopping offers.
Avoid Impulse Purchases
Sometimes the sheer convenience we love about online shopping can become a detriment. It can almost become too easy to spend money on certain websites, and this is by design. eCommerce brands are constantly finding new ways to simplify the purchasing process to make it quicker and easier. Some online retailers like Amazon have even gone as far as implementing a “one-click” checkout option. It might be challenging, but it’s best to avoid impulse purchases, which can quickly add to a significant amount of money.
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