Do you have a product buying strategy?

[BBTools]

I hope this is the right place to post this...please move if not.

I'm just wondering if anyone else has a product-buying strategy? More for everyday life than in business, but could apply to both.

Personally, I am trying to buy fewer things, but buy much better quality. I've developed the following process:

1. List my wants/needs
2. Research which products will best meet those needs
3. Identify which retailers sell those products + list current prices
4. Sign up for newsletters to be notified of sales

Then when a good price comes up, I:

1. Research discount codes I can use
2. Research whether I can get a special deal via credit cards (such as AmEx offers)
3. Research points I can collect (such as Nectar and/or Honey points)
4. Buy using a credit card can get a special offer on

I recently used this strategy to buy some headphones. A sale meant headphones went from £230 to £189.99, then I managed to get that price down to £135 using a mix of a discount code, AmEx offer (£15 cashback) + AmEx normal cashback. I also collected Honey and Nectar card points on it.

It sounds like a lot, but once you are set up, it basically just takes a few extra minutes to get everything in line.

Any one do similar? Have any extra steps they take?

 

[Mark T Jones]

I definitely don't have a strategy.

I do have a few thoughts, which somewhat overlap with yours - which mostly apply to value purchases.

First, I'm very much of the minset (these days) to buy less & pay more. In other words, get only what I really want but pay for quality.

I will do a bit of shop-around price checking - but won't automatically buy the cheapest. If there is a notable price difference I will dig a bit into the variables & reasons.

After that, it's pretty much a case of if I want it I'll have it.

CBA with vouchers or discount codes in truth.

 

[BBTools]

I definitely don't have a strategy.

I do have a few thoughts, which somewhat overlap with yours - which mostly apply to value purchases.

First, I'm very much of the minset (these days) to buy less & pay more. In other words, get only what I really want but pay for quality.

I will do a bit of shop-around price checking - but won't automatically buy the cheapest. If there is a notable price difference I will dig a bit into the variables & reasons.

After that, it's pretty much a case of if I want it I'll have it.

CBA with vouchers or discount codes in truth.

I really like this approach.

Something I need to get better at is considering my purchases more. I buy stuff I want, but after having it a few days I'm like 'well, this is OK, I guess'. So I probably didn't really want it.

I'm going to try and not to buy stuff on the day I decide I want it. Just think about it a bit before I make the purchase.

With discount codes, I pretty much just use a Chrome plug-in to automatically check for codes (they are a lot rarer these days). Other than that I will see if I can get a student discount. Then just leave it.

In terms of buying better, but buying less, I have found that there is also a much better resale market for 'better' brands. Like I can easily resell a Patagonia jumper, but would struggle to resell a cheap one from Asos.

Obviously, it still costs money, but that makes it more likely to recoup some of the initial spend.

 

[fisicx]

I don’t bother with too much research. I just buy things when I need them from the same places I always buy things from.

Certainly pay more for quality. But don’t ever consider resale. If I buy a pair of trousers they get worn until they fall to bits. Anything under 10 years life isn’t good value.

 

[kulture]

I try to avoid thinking about it. If I start to research I then persuade myself that I want it and then get impatient and buy it

 

[BBTools]

I try to avoid thinking about it. If I start to research I then persuade myself that I want it and then get impatient and buy it

I have absolutely had this.

I try hard to detach myself from the product. If it is something I know I want/need, but don't need it straight away I just set up alerts to check if it's in the sale.

Other than that I try not to buy anything beyond the essentials.