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How to make the most of the festive sales offers from Amazon, Flipkart and Reliance Digital

Use cards of partner banks for additional discounts and cashbacks. Avoid shopping for stuff you may not use immediately and zero-cost EMI.

October 01, 2021 / 04:22 PM IST

The much-awaited festive shopping offers for Navratri and Dussehra are here. Amazon India’s Great Indian Festival and Flipkart the Big Billion Days starts from October 3 till October 10. This festive season Reliance Digital has announced the Festival of Electronics from October 3 to October 12. These companies are offering attractive deals, cashbacks and discounts across categories.

In these COVID-19 times, you need to be cautious when it comes to spending money. For those who have just got their first job, there is a need for extra prudence. That doesn’t mean you shouldn’t spend. Here are some smart shopping tips to make the most of the festive sales offers.

Plan your shopping and stick to a budget

You must plan the purchases ahead of the sale by checking the offers on the website or the app in advance, because deep-discount deals move quickly.

Some deep-discount products are kept for lightning deals during the shopping days. These products are available for a few hours or until stocks last. To buy products at deep discounts, set up notifications of on the shopping app in advance. Whenever a sale is announced, you will be notified and then you can pounce on it if it’s within your budget.

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But that doesn’t mean you should buy things that you do not need. “Avoid the revenge shopping syndrome taking over after procrastinating shopping for the past year-and-a-half due to the pandemic,” says Harshil Morjaria, a certified financial planner at ValueCurve Financial Solutions. Make a list for shopping, maintain a budget for each of the items and stick to it. Skip the product while shopping if the discounted price is not within your budget.

“When making a big-ticket purchase, consult your family members as well. You will be surprised how useful the opinion of teenagers can be in deciding on consumer electronics and tech products,” says Raj Khosla, Managing Director and Founder of MyMoneyMantra.

Also read: Require a loan to buy the iPhone 13? Don’t buy the smartphone then

Compare online rates with offline discounts

As festive offers from e-commerce websites have grown over the past few years, offline retailers have also begun offering mid-year sales, festive offers, end-of-season sales, etc.

“These days, offline retailers are forced to offer discounts or match the price of products that Amazon, Flipkart, etc. offer. So, research thoroughly, as it may pay rich dividends when you step into a showroom for purchase,” says Khosla.

Decode the offers before buying

Flipkart is advertising discounts of up to 80 percent on televisions and appliances. Similarly, Amazon is advertising up to 70 percent off on electronics and accessories. The catch here is that such discounts may be applicable only on high-end products or on limited inventory for flash sales. “Such deep discount offers seem good in promotions to gain buyer's attention, so they end up with bulk shopping going beyond the budget, which is not required,” says Morjaria.

Use cards, reward points for additional discounts

During the Great Indian Festival sale from Amazon India, users with HDFC cards will get a 10 percent instant discount with debit and credit cards. Similarly, Axis Bank and ICICI Bank have partnered with Flipkart for the Big Billion Days sale to offer 10 percent instant discount while purchasing through cards. Even Paytm has partnered with Flipkart and giving assured cashback for making a transaction through mobile wallet or UPI. Reliance Digital customers can avail of a 10 percent instant discount i.e. up to Rs 2,000 on all SBI Credit Card transactions.

“You should make the purchase only if it’s essential; do not overspend just to get the benefit of instant discount or cashback scheme,” says Khosla.

Also, check if you can redeem reward points on credit cards or discount coupons for additional benefits while shopping on the e-commerce website.

Also read: Easy ways to avoid revenge shopping after unlock 2.0

Examine No-cost EMI schemes while shopping

Amazon, Flipkart, Reliance Digital and others offer a No-cost EMI (equated monthly instalment) option on purchases of consumer electronics, readymade garments, etc. Remember, No-cost EMIs are not free. “These EMIs make the product appear very affordable, but you may be incurring a 15-24 percent interest cost. A No-cost EMI becomes available to you by sacrificing the 4-5 percent cash discount offered by a dealer,” says Khosla.

For instance, you may buy a Rs 60,000 worth smart TV at a No-cost EMI of Rs 10,000 for six months. But, the Rs 4,000 to Rs 5,000 discount from the dealer will vanish into thin air. “You should avail a zero-cost EMI only if you are unable to make a cash purchase,” Khosla says.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd that publishes Moneycontrol.com.
Hiral Thanawala is a personal finance journalist with 9 years of reporting experience. Based in Mumbai, he covers financial planning, banking and fintech segments from personal finance team for Moneycontrol.

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