Flying The Web For News.
  • Career Exam Study
    Career Exam Study
  • E-commerce Guide
    E-commerce Guide
  • Dropshipping Guide
    Dropshipping Guide
  • Microsoft Exam
    Microsoft Exam
  • IT Career News
    IT Career News
+ Larger Font | - Smaller Font
Share

Consumer Daily Reports

[unable to retrieve full-text content]

The only place where it might make sense is in high-quality consumer goods like furniture and electronics

By Gary Guthrie of ConsumerAffairs
June 10, 2024

Photo

Spend more to save more? Yes, as implausible as it sounds, it nicknamed spaving is a thing. So much a thing that its actually a trend.

What started out as a girls shopping binge weekend on TikTok four years ago has turned into a hashtag thats got consumers drooling over the possibilities. But, as some financial experts or consumers whove tried it will tell you, the idea seems inviting, but actually turns out to not make much sense at all.

Like when you spend more to get free shipping, is how financial wiz Renee Vitullo explains the trend in her #spaving TikTox video. However, say shipping is $7. Then, you put a $14 item in your cart, and, then, yeah, you save $7, but youre still down $7!

Spaving shows up a lot in online shopping, but its now ventured further out much further. Grocery stores and retail stores are dusting off things like buy one, get one (BOGO) free and bulk discounts to ride the back of the spaving trend to try and get consumers to purchase items they wouldn't normally buy or if they do, they end up with excess perishable goods that go to waste.

How consumers are getting hurt by spaving

Nonetheless, the spaving gimmick apparently works. According to Numerator, temporary price reductions increased by 72% between March 2023 and March 2024, and overall promotions increased by 15%.

The use of free shipping offers, "buy one, get one free" deals and order minimums is a successful strategy for getting consumers to "spave."

But just like a lot of other consumer-oriented adrenaline rushes that comefrom snagging a good deal, if you take spaving too far, the wake-up call is cold and hard.

Dean Kaplan, CEO of Kaplan Collection Agency, told ConsumerAffairs that approximately 10% of his firms debt collection cases happen due to spaving.

"When it comes to spaving, the key is discernment. Consumers should ask themselves a few critical questions:

  • Is this purchase aligned with my long-term financial goals?
  • Will the cost truly translate into savings, or is it just an attractive price tag now? "For instance, buying in bulk can be cost-effective for non-perishable items you use regularly, but it becomes wasteful spending when those items go unused, Kaplan said.

Kaplan said that when it comes to spaving, the key is discernment. Yes, good old-fashioned intelligence, wisdom, shrewdness, and common sense.

Consumers should ask themselves a few critical questions, Kaplan suggests. "Doesthis purchase aligns with your long-term financial goals? Will the cost truly translate into savings, or is it just an attractive price tag now?

Where does spaving make sense?

There's two spavingsituations that Kaplan likes best.

For instance, buying in bulk can be cost-effective for non-perishable items you use regularly, but it becomes wasteful spending when those items go unused.

"Similarly, purchasing high-quality appliances might seem like spaving because they promise durability and lower energy costs, but if the technology is more sophisticated than you realistically need, you're just spending more without the payoff."

Kaplans comment about high-quality appliances caught our attention at ConsumerAffairs enough that we asked for more examples of consumer high-end appliance products that fit into the spaving category. Here are a few examples that he gave:

High-Quality Furniture: Expensive couches or dining sets can be more durable, but if trends change quickly or if they require special care that adds to the cost, the long-term savings might not justify the high upfront expense.

Smart Home Devices: Products such as smart thermostats, intelligent lighting systems, and advanced security cameras can offer long-term savings on energy and security, but their benefits may not always justify the upfront costs if basic models meet your needs.

Fitness Equipment: High-end treadmills, stationary bikes, or smart fitness mirrors may promise better features and durability, but they might be overkill if a more affordable option can serve the same purpose for your fitness goals.

High-End Audio Equipment: Premium speakers, headphones, and sound systems may promise superior sound quality, but for most consumers, mid-range options can deliver a satisfactory audio experience.

Luxury Bedding and Furniture: High-thread-count sheets, memory foam mattresses, and ergonomic office chairs provide comfort and durability butit's crucial to evaluate whether the added features justify the price difference from standard options.

Electric Vehicles (EVs): They offer lower running costs and tax incentives, but the initial purchase price is high, and the savings might not cover the difference unless the vehicle is used extensively.

Designer Clothing: High-end clothes can last longer and retain style, but if they are subject to fashion changes or if less expensive alternatives are available, the long-term savings might be minimal.

But, as Kaplan says, discernment is key. "The bottom line is to ensure that any decision to spend more now truly serves a well-considered financial plan and isn't just a reaction to perceived savings," he concluded.



Photo Credit: Consumer Affairs News Department Images


Posted: 2024-06-10 11:11:27

Get Full News Story On Consumer Affairs



Listen to this article. Speaker link opens in a new window.
Text To Speech BETA Test Version.



YouTube Consumer News Playlists

Consumer Video: Which Beach Tent Would You Pick? #shorts

Which Beach Tent Would You Pick? #shorts
Play Video: Which Beach Tent Would You Pick? #shorts


We evaluated four pop-up beach tents and disliked half of them—but two offered stress-free setup, privacy, and plenty of shade. Learn more at https://www.consumerreports.org/beach/best-beach-tents-a1060018271/?EXTKEY=YSOCIAL_YT Join CR at https://CR.org/joinviaYT to access our comprehensive ratings for items you use every day. CR is a mission-driven, independent, nonprofit organization.

Published: 17th Jun 2024 08:23:40   By: Consumer Reports

Consumer Video: How Consumer Reports Tests Paints #shorts

How Consumer Reports Tests Paints #shorts
Play Video: How Consumer Reports Tests Paints #shorts


👀 See the best exterior paints based on our expert tests at https://www.consumerreports.org/home-garden/paints/best-exterior-paints-from-consumer-reports-tests-a6327166411/?EXTKEY=YSOCIAL_YT Join CR at https://CR.org/joinviaYT to access our comprehensive ratings for items you use every day. CR is a mission-driven, independent, nonprofit organization.

Published: 17th Jun 2024 03:42:03   By: Consumer Reports

Consumer Video: 2024 Lincoln Nautilus Early Review | Consumer Reports

2024 Lincoln Nautilus Early Review | Consumer Reports
Play Video: 2024 Lincoln Nautilus Early Review | Consumer Reports


Join CR at https://CR.org/joinviaYT to access all of our comprehensive vehicle ratings. CR is a mission-driven, independent, nonprofit organization. The 2024 Lincoln Nautilus seems to be focused more on comfort than anything else. The two-row SUV offers plenty of interior space, the BlueCruise active driving assistance system, and an enormous, wraparound screen mounted above the dash. Sure, the display is dazzling, but its overall functionality left a lot to be desired. For more on the Lincoln Nautilus: https://www.consumerreports.org/cars/lincoln/nautilus/2024/overview/ Preview: 2024 Lincoln Nautilus SUV Promises to Pamper: https://www.consumerreports.org/cars/suvs/2024-lincoln-nautilus-review-a1171321486/ 10 Best Luxury SUVs You Can Buy Right Now: https://www.consumerreports.org/cars/suvs/best-luxury-suvs-you-can-buy-right-now-a3498867918/ Find the Best SUV: https://www.consumerreports.org/cars/suvs/

Published: 15th Jun 2024 01:00:07   By: Consumer Reports

Consumer Video: 3 Things for Bassinet Safety #shorts

3 Things for Bassinet Safety #shorts
Play Video: 3 Things for Bassinet Safety #shorts


See the best bassinets of 2024 at https://www.consumerreports.org/babies-kids/bassinets/best-bassinets-of-the-year-a7387524206/?EXTKEY=YSOCIAL_YT A good bassinet can often be placed right next to your bed, making it easier to conduct nighttime feedings and diaper changes. Join CR at https://CR.org/joinviaYT to access our comprehensive ratings for items you use every day. CR is a mission-driven, independent, nonprofit organization.

Published: 13th Jun 2024 11:41:39   By: Consumer Reports

Consumer Video: Here's Why You May Hate Your Printer #shorts

Here
Play Video: Here's Why You May Hate Your Printer #shorts


Over time, you can spend more on ink cartridges than on a printer itself. Learn more at https://www.consumerreports.org/electronics-computers/printers/best-printers-of-the-year-a9151182809/?EXTKEY=YSOCIAL_YT Join CR at https://CR.org/joinviaYT to access our comprehensive ratings for items you use every day. CR is a mission-driven, independent, nonprofit organization.

Published: 12th Jun 2024 07:04:17   By: Consumer Reports

Car Video: The Future of Track Days and our Video Plans #shorts

The Future of Track Days and our Video Plans #shorts
Play Video: The Future of Track Days and our Video Plans #shorts


Todd discusses the future of Everyday Driver, sister company Hooked on Driving, and the videos planned in the new Lotus Emira. This is part of a larger film where he picked up his Emira and drove it for the first time. Subscribe so you don't miss a video or announcement: YouTube.com/EverydayDriver

Published: 12th Jun 2024 08:00:10   By: EverydayDriver

Car Video: Porsche Cayenne E-Hybrid - Update 3 - The Wrong Cayenne? - | Everyday Driver

Porsche Cayenne E-Hybrid - Update 3 - The Wrong Cayenne? -  | Everyday Driver
Play Video: Porsche Cayenne E-Hybrid - Update 3 - The Wrong Cayenne? - | Everyday Driver


Todd's family has put 20,000 miles on their e-Hybrid Cayenne and have gotten many questions about range, reliability, and other issues. Join Todd as he updates on their experience and talks about owning multiple Cayennes at once. Be sure you’re subscribed! 00:00 - My other car is also a Cayenne 4:47 - Tire choices 8:21 - MPG and Power 12:15 - Pros and Cons and until next time. #Porsche #Cayenne #ehybrid We’ll post another big comparison right here every month, plus long term updates and big road trips. Subscribe and hit the bell so you don’t miss our Thursday releases. Also watch our other channel: /TestDriveVideos for single car reviews Plus you can find our Adventure Trips, Twice Weekly Podcast and much more on our website: http://everydaydriver.com Thanks for watching!

Published: 6th Jun 2024 09:00:21   By: EverydayDriver

Car Video: When Car Lovers get what they Asked for #shorts

When Car Lovers get what they Asked for #shorts
Play Video: When Car Lovers get what they Asked for #shorts


The Lotus Emira offers most everything internet car loves say they want. Will it be enough to be a success? This Emira is one of our long term review cars with many more videos on the way. Subscribe so you don't miss a video or announcement: YouTube.com/EverydayDriver

Published: 5th Jun 2024 08:00:09   By: EverydayDriver

Car Video: Not supposed to do this - An Analog Car in the Modern world. #shorts

Not supposed to do this - An Analog Car in the Modern world. #shorts
Play Video: Not supposed to do this - An Analog Car in the Modern world. #shorts


The Lotus Emira is unique among modern sports cars, and Todd explains the pros and cons of this approach. This Emira is one of our long term review cars with many more videos on the way. Subscribe so you don't miss a video or announcement: YouTube.com/EverydayDriver

Published: 29th May 2024 08:00:20   By: EverydayDriver

Car Video: Lotus Emira - Finally! - Buying the Most Interesting Car of the Year! | Everyday Driver

Lotus Emira - Finally! - Buying the Most Interesting Car of the Year!  | Everyday Driver
Play Video: Lotus Emira - Finally! - Buying the Most Interesting Car of the Year! | Everyday Driver


In an unplanned series of events, we drove the year's two most anticipated cars on the same day - and Todd bought one of them! Join us for the reveal of our next long term car and part of our upcoming road trip films. Todd shares the story of how it happened, the reasons why, and much more. This is only the beginning! Be sure you’re subscribed! 00:00 - The Years 2 most anticipated cars on the same day. 3:22 - How I got one now, and not later. 6:46 - So close, I have to have it. 7:49 - Get in line 8:48 - Big Plans for this car 10:58 - What makes this special 13:16 - Doesn't feel real 14:33 - Downsides, Now and in the future 16:16 - A new Chapter, and much more to come. 17:29 - Depends on Your Perspective #Lotus #Emira #Cybertuck We’ll post another big comparison right here every month, plus long term updates and big road trips. Subscribe and hit the bell so you don’t miss our Thursday releases. Also watch our other channel: /TestDriveVideos for single car reviews Plus you can find our Adventure Trips, Twice Weekly Podcast and much more on our website: http://everydaydriver.com Thanks for watching!

Published: 16th May 2024 07:34:08   By: EverydayDriver

Product Review Video: Unboxing the Fujifilm Instax Wide 400

Unboxing the Fujifilm Instax Wide 400
Play Video: Unboxing the Fujifilm Instax Wide 400


We unboxed Fujifilm's new Instax Wide 400 camera. #instax #instantcamera #photography #nostalgia #retro

Published: 18th Jun 2024 02:00:10   By: CNET

Product Review Video: Stanford University's AI Enhanced 3D Glasses

Stanford University
Play Video: Stanford University's AI Enhanced 3D Glasses


Stanford University scientists designed a pair of augmented reality glasses that can show the wearer 3D moving images. #stanford #arglasses #ar #augmentedreality #tech #3d #wearables #projection

Published: 17th Jun 2024 01:00:33   By: CNET

Product Review Video: Apple vs Google: Find My Device Challenge

Apple vs Google: Find My Device Challenge
Play Video: Apple vs Google: Find My Device Challenge


Android now has a way to find lost items using Google's Find My Device network. How does it compare to Apple's Find My and AirTags? Let's put them to the test. Find these device trackers here: AirTag - https://cnet.us/ctf Chipolo One Point - https://cnet.us/ll7 00:00 Intro 00:13 Setting up the challenge 00:51 Hiding the trackers 01:35 Marking trackers as lost 02:19 First notification 02:33 What these networks do 04:23 Second notification 05:10 Hunting the trackers 07:17 Final thoughts Subscribe to CNET on YouTube: https://www.youtube.com/cnet Never miss a deal again! See CNET’s browser extension 👉 https://bit.ly/3lO7sOU Check out CNET’s Amazon Storefront: https://www.amazon.com/shop/cnet Follow us on TikTok: https://www.tiktok.com/@cnetdotcom Follow us on Instagram: https://www.instagram.com/cnet/ Follow us on X: https://www.x.com/cnet Like us on Facebook: https://www.facebook.com/cnet CNET's AI Atlas: https://www.cnet.com/ai-atlas/ Visit CNET.com: https://www.cnet.com/ #airtag #bluetooth #tracker

Published: 17th Jun 2024 12:00:41   By: CNET

Product Review Video: Fujifilm X100VI: The Perfect iPhone Photography Companion

Fujifilm X100VI: The Perfect iPhone Photography Companion
Play Video: Fujifilm X100VI: The Perfect iPhone Photography Companion


CNET expert Patrick Holland took the Fujifilm X100VI across the country to see if it's worth upgrading to as a dedicated camera. Turns out, it's a great companion to the iPhone. #fujifilm #fujifilmx100vi #photography #iphone #iphonephotography #tech #review

Published: 17th Jun 2024 10:00:10   By: CNET

Product Review Video: Spotify Plans to Increase Prices Again

Spotify Plans to Increase Prices Again
Play Video: Spotify Plans to Increase Prices Again


Here we go again. Which do you prefer? Apple Music or Spotify? #tech #music #streaming #applemusic #spotify #musicstreaming #technews

Published: 16th Jun 2024 04:00:09   By: CNET

FTC Video: Estafas después de una emergencia climática

Estafas después de una emergencia climática
Play Video: Estafas después de una emergencia climática


Para más información visite https://www.ftc.gov/EmergenciasClimaticas

Published: 17th Jun 2024 12:00:40   By: FTCvideos

FTC Video: Weather Emergency Scams

Weather Emergency Scams
Play Video: Weather Emergency Scams


Learn how to spot and avoid weather-related scams at https://www.ftc.gov/WeatherEmergencies @FTCvideos #ftc #weatheremergency #scams ************************** The Federal Trade Commission deals with issues that touch the economic life of every American. It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers' interests by sharing its expertise with federal and state legislatures and U.S. and international government agencies; develops policy and research tools through hearings, workshops, and conferences; and creates practical and plain-language educational programs for consumers and businesses in a global marketplace with constantly changing technologies. Comment Moderation Policy We welcome your comments and thoughts about the information on this page. If you do have something to say, please be courteous and respectful to other commenters. We won't routinely review any comments before they are posted (except for ones that contain urls and profanity), but we will delete any comments that: 1) contain spam or are off-topic 2) use vulgar language or offensive terms that target specific groups or contain personal attacks 3) are sales pitches or promotions 4) have urls or links to commercial sites 4) spread clearly misleading or false information or 5) include personal information, like home addresses

Published: 10th Jun 2024 12:00:12   By: FTCvideos

FTC Video: Minimum Payments on Credit Cards - Personal Finance Tips

Minimum Payments on Credit Cards - Personal Finance Tips
Play Video: Minimum Payments on Credit Cards - Personal Finance Tips


This video shows what happens when someone makes just the minimum payment on a credit card balance. Learn more about Credit Cards and using them on the Consumer.gov website here: https://www.consumer.gov/articles/1010-using-credit #ftc #creditcard #credit

Published: 5th Jun 2024 12:00:59   By: FTCvideos

FTC Video: US FTC ICPEN Presidency – Protecting Consumers | Connecting Enforcers

US FTC ICPEN Presidency – Protecting Consumers | Connecting Enforcers
Play Video: US FTC ICPEN Presidency – Protecting Consumers | Connecting Enforcers


The United States Federal Trade Commission assumes the presidency of the International Consumer Protection and Enforcement Network (ICPEN) from July 1, 2024, to June 30, 2025. ICPEN brings together consumer protection enforcers from more than 70 countries. ICPEN members gather every year to share the latest trends and best practices to combat fraudulent, deceptive, and unfair business practices. Together, we’re better able to stop scammers and respond to the expanding digital economy. ICPEN’s Fall 2024 and Spring 2025 conferences will take place in the United States, starting with a meeting in Washington, D.C., at the headquarters of the Federal Trade Commission. Protecting Consumers | Connecting Enforcers

Published: 1st Jun 2024 12:00:16   By: FTCvideos

FTC Video: Weather Emergency Scams

Weather Emergency Scams
Play Video: Weather Emergency Scams


Learn how to spot and avoid weather-related scams at https://www.ftc.gov/WeatherEmergencies @FTCvideos #ftc #weatheremergency #scams

Published: 27th May 2024 12:01:01   By: FTCvideos

DIY Video: Garden Inspiration | GARDEN | Great Home Ideas

Garden Inspiration | GARDEN | Great Home Ideas
Play Video: Garden Inspiration | GARDEN | Great Home Ideas


Unleash your creativity with our garden inspiration ideas! Discover a wealth of tips and trends to transform your outdoor space into a lush, vibrant haven. Explore innovative landscaping techniques, and unique decorative touches. Start your gardening journey today and turn your yard into a beautiful, thriving oasis with our garden inspiration! Welcome to Great Home Ideas, where you’ll find inspiring home makeovers, delicious recipes, quick & easy DIY projects, design & gardening ideas, plus hints, tips, how tos and advice on pets, health, tech and more. Check out our channel & subscribe to see more videos like this one every day of the week. Click here to subscribe: https://bit.ly/3hxN7d5

Published: 17th Jun 2024 11:45:00   By: Great Home Ideas

DIY Video: Outdoor Entertaining Ideas | GARDEN | Great Home Ideas

Outdoor Entertaining Ideas | GARDEN | Great Home Ideas
Play Video: Outdoor Entertaining Ideas | GARDEN | Great Home Ideas


Elevate your outdoor gatherings with our creative and stylish outdoor entertaining ideas! From cozy patio setups and chic backyard lounges to vibrant garden parties and family-friendly barbecues, we offer inspiration to transform your outdoor space into the ultimate entertaining area. Welcome to Great Home Ideas, where you’ll find inspiring home makeovers, delicious recipes, quick & easy DIY projects, design & gardening ideas, plus hints, tips, how tos and advice on pets, health, tech and more. Check out our channel & subscribe to see more videos like this one every day of the week. Click here to subscribe: https://bit.ly/3hxN7d5

Published: 16th Jun 2024 11:45:01   By: Great Home Ideas

DIY Video: Spring Colour Ideas for the Garden | GARDEN | Great Home Ideas

Spring Colour Ideas for the Garden | GARDEN | Great Home Ideas
Play Video: Spring Colour Ideas for the Garden | GARDEN | Great Home Ideas


Discover the joys of planting potted plants with our expert tips and guides! Whether you're a seasoned gardener or a beginner, our comprehensive resources will help you create a thriving indoor or outdoor garden. Welcome to Great Home Ideas, where you’ll find inspiring home makeovers, delicious recipes, quick & easy DIY projects, design & gardening ideas, plus hints, tips, how tos and advice on pets, health, tech and more. Check out our channel & subscribe to see more videos like this one every day of the week. Click here to subscribe: https://bit.ly/3hxN7d5

Published: 15th Jun 2024 11:45:04   By: Great Home Ideas

DIY Video: Functional DIY Kitchen Island | DIY | Great Home Ideas

Functional DIY Kitchen Island | DIY | Great Home Ideas
Play Video: Functional DIY Kitchen Island | DIY | Great Home Ideas


Transform your kitchen with a stunning and functional kitchen island DIY project. Our DIY kitchen island combines style and practicality, offering extra counter space, ample storage, and a central hub for family gatherings and culinary creativity. Welcome to Great Home Ideas, where you’ll find inspiring home makeovers, delicious recipes, quick & easy DIY projects, design & gardening ideas, plus hints, tips, how tos and advice on pets, health, tech and more. Check out our channel & subscribe to see more videos like this one every day of the week. Click here to subscribe: https://bit.ly/3hxN7d5

Published: 14th Jun 2024 11:45:01   By: Great Home Ideas

DIY Video: Great Food Ideas SE01EP013 | FOOD | Great Home Ideas

Great Food Ideas SE01EP013 | FOOD | Great Home Ideas
Play Video: Great Food Ideas SE01EP013 | FOOD | Great Home Ideas


Welcome to Great Home Ideas, where you’ll find inspiring home makeovers, delicious recipes, quick & easy DIY projects, design & gardening ideas, plus hints, tips, how tos and advice on pets, health, tech and more. Check out our channel & subscribe to see more videos like this one every day of the week. Click here to subscribe: https://bit.ly/3hxN7d5

Published: 13th Jun 2024 10:30:05   By: Great Home Ideas

Related News Stories From The Web And More

Related Bing News Search Results

Consumer News: The 'spave' you crave could lead you to the grave, financial experts warn - Newscast

Air fryer vs deep fryer: Comparison guide to determine the healthier option

Tue, 18 Jun 2024 03:56:00 GMT Dive in our comparison guide to explore the differences in technology, health impacts, taste, versatility, cost and safety of both.

Consumer Alert

Wed, 12 Jun 2024 19:04:00 GMT Consumer Reports explains which ones we should consider. Consumer Reports investigates brands of baby wipes that would be best for your child's sensitive skin. Consumer Reports has a play-by-play ...

Consumer Reports Finds High Levels of Lead in Some Puffs Snacks—What Parents Should Know

Tue, 11 Jun 2024 11:05:00 GMT Puff snacks with fruits and veggies offer convenience and—seemingly—an opportunity to get vitamins in a way that meets a young child’s taste preferences. However, results from a Consumer Reports (CR) ...

Retail & Consumer

Tue, 11 Jun 2024 09:41:00 GMT Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial ...

Consumer Alert: Lead-laden baby snacks have parents looking for alternatives

Tue, 11 Jun 2024 06:29:00 GMT ROCHESTER, N.Y. – This consumer alert takes a look at snacks, lead, and your baby. After our report in last week’s 4 p.m. newscast on lead in some baby snacks, my phone blew up. Many parents were ...


Blow Us A Whistle