Price conscious consumers, like me, are on guard for getting the best purchase price possible, pretty much without exception. However, I also don’t want to spend a lot of time either looking for the best price upfront, or to see if a price dropped after. And, with garden variety drug or grocery store items, I am probably going to buy something and forget about what I paid for it soon after. The new exception is when I shop at Walmart and use their Savings Catcher program, that’s a pretty painless method to ensure maximum savings.
As I have discussed before, there are several other tools in your arsenal using credit card price protection policies to help you pay the lowest price possible for more expensive items, such as clothing, that can be of great help. Recently, I learned about another tool, Trackif, that will show you how much price fluctuation can occur in a 90 day period (tip: if you can, wait to buy!). Take a look at the following example below from JoS. A Bank, the clothier.
Purchase prices do fluctuate!
Using Trackif is pretty simple. There are how-to videos on their site, but essentially, there are several ways to “track” items which you have bought or are of interest to you. For example, you can forward your order confirmation email, download a browser button and add that way, or copy the web address for the product you wish to buy and paste it on their site. There is an impressive list of retailers where you can track prices-big to small, so it’s not just the Amazons or Best Buys out there.
So, what happens if a price goes down after you buy something? This is where the fun part comes. Widely advertised or not, retailers tend to have price protection guarantees available to you. For example, at Amazon, if a price drops within 7 days of purchase delivery, you can request a refund. JoS A Bank has a price adjustment policy, too, but you may have to ask a manager about it. Amazon doesn’t promote their price protection policies other than for TVs an cellphones. And, it’s not really in a retailer’s interest to frequently tout that you may be eligible for a refund on something you bought when the price goes down.
Bottom line is that there are many tools and strategies to help ensure you get the best purchase price, before and after the sale.