How to grab a bargain when shopping online

HSBC’s Insider’s Guide: Passport to Smarter Spending study reveals that cost-conscious Aussies are staying on top of the latest trends and saving money by buying from overseas online retailers, waiting for special offers or promotions to nab a bargain, and some are even re-registering their details in order to secure a second welcome discount.

To help Aussies spend and save online, we’ve compiled some of our top tips:

• Tip #1 - To nab a bargain, include overseas online retailers in your search

  HSBC’s research revealed 75%¹ of Australians strongly agreed that shopping on international websites allows them to buy items from overseas cheaper than in Australia.

  So, on top of shopping with great local retailers, consider overseas websites to increase your chance of getting a bargain. International retailers will often extend discounts and deals, and waive international shipping costs, to Australian consumers.

  Products are often cheaper on overseas sites due to factors like exchange rates, production costs and more, so it pays to do your research to make sure you’ve gotten the best price.

• Tip #2 - Consider a global bank account to avoid currency conversion and transaction fees

  Only 13%² of Australians are taking advantage of a global account or credit card when shopping online, even though these accounts can help them save on currency conversion and transaction fees.

  There are great offerings like HSBC’s Everyday Global Account which allows you to buy, save and spend up to ten currencies from one account – and with the added bonus of no ATM or international transaction fees* – helping Aussies to save on fees when shopping online.

  Consider paying in the site’s ‘home currency’ rather than in Australian dollars, as this could help you make significant savings.

  The research also revealed more than half (58%)³ of Aussies found shopping on overseas websites less attractive due to currency exchange rates and fees, so using a global card to pay is a simple way of avoiding costly additional charges.

• Tip #3 - Be in the know: Stay up-to-date on the latest online shopping sales in Australia and overseas

  Aussies are savvy when it comes to online shopping, with 66%⁴ waiting for a special online promotion or offer before making a purchase.

  Events like Black Friday and Cyber Money have only helped to boost the popularity of online shopping in recent years. HSBC’s research shows that one in three (30%) Aussies actively wait for these events to save on products they need.

  Diarising the dates of key shopping events can help you plan for significant savings. Another way of keeping costs down is to subscribe to the newsletters of your favourite online retailers, so you’re the first to know of any upcoming sales.

• Tip #4 - Utilise online deals, coupons, referrals, and promotion codes

  By utilising a promotional code or coupon, you can quickly shave off some dollars when purchasing online – and they’re often easily discovered through quick online research, or by registering with the retailer as a member.

  HSBC’s research reveals that some Australians are even willing to bend the rules a little, with 13%⁵ admitting to re-registering on a website to receive a second welcome discount code!

COMMENTS – Attributed to Jessica Power, Head of Retail Banking and Wealth Management, HSBC Australia

”Australians are savvy-shoppers, constantly looking at unique ways they can snare a bargain – either through special promotions and discounts, or shopping via international websites.

”But this resourcefulness doesn’t always extend to their finances, with many unaware of the international transaction and foreign exchange fees that often come with overseas shopping.

”Our HSBC Everyday Global Account enables customers to buy and transact using ten currencies, with no ATM or transaction fees* – making it a much smarter way to spend and save online” said Ms Power.

*Some ATM providers and merchants may charge a separate fee.

HSBC Bank Australia

In Australia, the HSBC Group offers an extensive range of financial services through a network of 44 branches and offices. These services include retail and commercial banking, trade finance, treasury and financial markets, payments and cash management and securities custody. Principal HSBC Group members operating in Australia include HSBC Bank Australia Limited (ABN 48 006 434 162 AFSL/Australian Credit License 232595) and The Hong Kong and Shanghai Banking Corporation Limited (ABN 65 117 925 970 and AFSL 301737).

Important information

Issued by HSBC Bank Australia Limited ABN 48 006 434 162, AFSL No 232595. This brochure provides general advice only and doesn’t take into account your objectives, financial situation or needs. Consider the relevant Product Disclosure Statement (PDS) and Terms and Conditions before acquiring the product. A copy of the PDS and Terms and Conditions is available on hsbc.com.au, or by calling us on 1300 308 008. HSBC1374_R01_1118

¹ HSBC Passport To Smarter Spending Study, research conducted by Colmar Brunton for HSBC Australia, October, 2018

² HSBC Passport To Smarter Spending Study, research conducted by Colmar Brunton for HSBC Australia, October, 2018

³ HSBC Passport To Smarter Spending Study, research conducted by Colmar Brunton for HSBC Australia, October, 2018

⁴ HSBC Passport To Smarter Spending Study, research conducted by Colmar Brunton for HSBC Australia, October, 2018

⁵ HSBC Passport To Smarter Spending Study, research conducted by Colmar Brunton for HSBC Australia, October, 2018