It's a shoppers market this holiday season. That means you can expect some big deals. It's good news for consumers as we head into one of the busiest times of the year for retailers.
Retail sales rose 1.2 percent in October, which is better than analysts expected, and it marks the fourth month in a row of gains. In fact, consumers are expected to spend more than $400 billion on holiday gifts in November and December.
Retailers are already competing for your business as they roll out ads promising deep discounts. Wal-Mart, for example, is offering discounts on electronics, toys and DVDs. Next Friday, the day after Thanksgiving, is Black Friday, a day many retailers rely on to pad their bottom line. But you can expect to start seeing those big Black Friday deals earlier.
Many stores will be open Thanksgiving Day for the first time ever, hoping to capitalize on bargain hunters.
The Monday after the Thanksgiving holiday weekend is widely referred to as Cyber Monday, a day many people are online in search of bargains. According to the National Retail Federation, 96.5 million Americans shopped online during Cyber Monday last year.
But there are things to keep in mind if you play to buy online. The Better Business Bureau (BBB) recommends 10 tips for staying safe when holiday shopping online.
"Online shopping may be convenient-but it has its own set of risks," said David Polino, Better Business Bureau President. "Taking steps to avoid the fraud online will result in a much happier holiday for everyone-except, of course, for scammers and hackers."
Here are the BBB's "Top 10 Online Shopping Tips" for holiday shoppers:
1. Protect your computer - A computer should always have the most recent updates installed for spam filters, anti-virus and anti-spyware software and a secure firewall.
2. Shop on trustworthy websites - Shoppers should start with BBB to check on the seller's reputation and record for customer satisfaction. Always look for the BBB seal and other widely-recognized "trustmarks" on retailer websites and click on the seals to confirm that they are valid.
3. Protect your personal information - BBB recommends taking the time to read the site's privacy policy and understand what personal information is being requested and how it will be used. If there isn't one posted, it should be taken as a red flag that personal information may be sold to others without permission.
4. Beware of deals that sound too good to be true - Offers on websites and in unsolicited e-mails can often sound too good to be true, especially extremely low prices on hard-to-get items. Consumers should always go with their instincts and not be afraid to pass up a "deal" that might cost them dearly in the end.
5. Beware of phishing - Legitimate businesses do not send e-mails claiming problems with an order or an account to lure the "buyer" into revealing financial information. If a consumer receives such an e-mail, BBB recommends picking up the phone and calling the contact number on the website where the purchase was made to confirm that there really is a problem with the transaction.
6. Confirm your online purchase is secure - Shoppers should always look in the address box for the "s" in https:// and in the lower-right corner for the "lock" symbol before paying. If there are any doubts about a site, BBB recommends right-clicking anywhere on the page and select "Properties." This will let you see the real URL (website address) and the dialog box will reveal if the site is not encrypted.
7. Pay with a credit card - It's best to use a credit card, because under federal law, the shopper can dispute the charges if he or she doesn't receive the item. Shoppers also have dispute rights if there are unauthorized charges on their credit card, and many card issuers have "zero liability" policies under which the card holder pays nothing if someone steals the credit card number and uses it. Never wire money.
8. Keep documentation of your order - After completing the online order process, there may be a final confirmation page or the shopper might receive confirmation by e-mail - BBB recommends saving a copy of the Web page and any e-mails for future reference and as a record of the purchase.
9. Check your credit card statements often - Don't wait for paper statements; BBB recommends consumers check their credit card statements for suspicious activity by either calling credit card companies or by checking statements online regularly.
10. Know your rights - Federal law requires that orders made by mail, phone or online be shipped by the date promised or, if no delivery time was stated, within 30 days. If the goods aren't shipped on time, the shopper can cancel and demand a refund. There is no general three-day cancellation right, but consumers do have the right to reject merchandise if it's defective or was misrepresented. Otherwise, it's the company's policies that determine if the shopper can cancel the purchase and receive a refund or credit.
For more tips on holiday shopping, click here.
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