Next-Day Delivery May Ruin Your Financial Budget

June 5, 2019

© Stephen Coburn | Dreamstime

There is a new battle between Amazon and Walmart and it may put your budget into a tailspin.  Last month Amazon announced it would offer free one-day shipping for Prime members on now more than 10 million products. Walmart responded by rolling out “NextDay” delivery on 220,000 commonly purchased items to select cities, with plans to launch it nationwide and all without a membership.  While the thought of having your ordered items in just 24 hours sounds fantastic, consumer psychologists say you should think twice before clicking "buy" as the “free shipping” option and instant gratification will make you even more likely to spend. Free shipping is a big incentive for click-happy consumers. Nearly eight in 10 people cite free shipping as a factor that would make them more likely to shop online and in a twist of fate, people actually choose free shipping over a dollar discount which makes faster deliveries that are free as a deal you simply can't pass up. But beware not to get caught up in the excitement and find yourself buying items you really don't need. As Amazon excels at quick deliveries, Walmart wins with return convenience.  However the two retail giants are leaning from each other as evident in Walmart's push for one-day delivery and Amazon's return deal with Kohl's stores. In the end, it's the consumer who will further enjoy the instant gratification and to make sure to not get caught up in the hoopla and ruin your budget just because you can get it in a day!

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SOURCE: MarketWatch

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