Baltimore, Maryland – COVID 19 pandemic has been over nine months since it was discovered. Since the coronavirus outbreak, people tend to spend their activity at home more often than before. It has also changed their shopping habit forever. Based on the survey on several countries, such as United States, Brazil, China, Germany, South Africa, Switzerland, Turkey, Italy, and the Russian Federation, more than half of the respondents are shopping online more often and rely on the internet the latest news updates.
They spend more on Information and Communication Technology or Electronic Products, Gardening/DIY products, Education, Pharmaceuticals, Furniture or Household products, and Cosmetics/personal care categories.
- Prepare a buying list. During this challenging situation, it’s best to buy stuff online, but most importantly, buy the essential items first.
- Look for coupons and discounts. It’s perfectly fine to search for coupons and find the best deal. Everybody is doing it.
- Be Strategic. Look for similar products on different websites ahead of time and read reviews.
- Do a research. Learn about the product and reconsider if it’s essential if there’s enough cash flow. In most cases, people can use their old products with a slight modification.
- Pay immediately. Don’t add another debt to this challenging situation. Nobody knows when it will end. Pay in cash or if you pay with credit cards, pay off immediately to reduce debt for the following month.
This year, the Black Friday online shopping event is going to happen on Friday, November 27. Being the following day after Thanksgiving, this day is usually considered the start of the holiday shopping season. Most of the online stores provide discount prices. “As online shopping has become our lifestyle nowadays, the online Black Friday sales are usually held before Friday, and people would spend their money before that day. We must be smart about spending money for sale events, whether it is for Black Friday, Cyber Monday, or Christmas Season Sales,” Mr. Topolski added.
Many financial experts predicted this year Black Friday is no different than the previous years. Yes, the global economy is in crisis, but many stores will offer more discounts to keep their store running on the bright side.
While this is an irresistible offer, there are possibilities that people will buy too many items that they don’t need because the online shopping experience is generally more convenient in terms of payment and navigation. Without proper money-management, people can spend more money than their budget.
About Fraser Financial Partners
Fraser Financial Partners is a prominent financial advisor based in Baltimore, Maryland. Their services include Financial Planning, Retirement Planning, and Wealth Management. For more information about Fraser Financial Partners, please visit https://fraserfinancialpartners.com/.
Company Name: Fraser Financial Partners
Contact Person: Mr. Joseph R. Topolski
Email: Send Email
Address:1909 Thames Street, Suite 201
State: MD 21231
Country: United States