A record 166.3 million Americans were expected to shop in person or online between Thanksgiving Day and Cyber Monday, according to the National Retail Federation (NRF). That is 8 million more people than last year and the NRF’s highest estimate since it began tracking data in 2017.
Americans are especially eager to take advantage of shopping deals as inflation eats at their holiday budgets. A CNBC/Survey Monkey poll found that 67 percent of shoppers are worried about affording holiday items because of inflation, while 69 percent said the possibility of a global recession forced them to consider cutting back.
On Cyber Monday, customers have been flocking to the internet for deals, but don’t click too quickly.
Tony Anscombe, chief security evangelist for the cybersecurity company ESET, said shoppers should always double check where they are buying from or risk falling victim to fake sellers. Make sure the web address is correct and there is an “https” in the web address bar.
“Purchase from trusted and known retailers, and ensure the address of the website reflects the retailer’s exact name,” Anscombe told Newsweek.
If you are emailed a link to an amazing deal, don’t be so fast to click, it could be a phishing scam.
“If you see an offer in an email, then open a browser and go to the website and search for the product or specific offer,” Anscombe said. “Also avoid clicking offers in search results that appear to be too good to be true — they are, and are likely a scam site.”
Scams can also be detected on the payment page. To avoid suspicious sellers, pay with a credit card or an online payment service such as Apple Pay, Google Pay or PayPal. If a website asks for personal data beyond what is needed for payment, step away and close the web page, Anscombe said.
Even if you sidestep the cybersecurity threats, you could fall for a good, old-fashioned marketing trap. But there are ways to make sure your purchase is actually a good deal, according to WalletHub analyst Jill Gonzalez.
“Customers should definitely check prices both online and in retail stores to make sure they’re getting a good Cyber Monday deal,” Gonzalez told Newsweek. “Price comparison websites and tools help a lot. If they’ve been after a certain product, then they should be aware of that item’s price history and realize what the best deals are. If they’ve started doing their research early, they should be able to not just look at the percentage discount, but compare the actual price to the product’s pre-sale price.”
To make sure you’re not paying more than you planned, keep an eye on the shipping and return policies and fees, Gonzalez added.
And if your holiday shopping starts today, you are likely to find the best deals in specific categories.
“The products that have the biggest discounts on Cyber Monday include jewelry, books, apparel and accessories,” Gonzalez added. “It’s also a good time to shop for furniture, appliances and consumer electronics.”
