Are the Days of Killer Online Deals Over?

Once upon a time, Black Friday was a US phenomenon. The tradition saw thousands line up outside major retailers for a chance to nab expensive items with steep discounts. Today, Black Friday is a global phenomenon-and it's hopping online.

According to the National Retail Federation, 93.2 million shoppers made purchases online on Black Friday. Only three days later, another 83.3 million shoppers made a purchase on Cyber Monday. Clearly, there's never been a better time for online shoppers.

Opportunities have been building steadily since eBay first launched in 1995, which was followed by Alibaba endeavors Taobao and Tmall in 2003 and 2008, respectively. However, despite the increase in online retailers and services, competitive deals are now harder to find, with longer and more prohibitive terms and conditions attached.

This wasn't always the case. Consider the world of online poker. When the card game first jumped online in the late 90s and early 2000s, there was a heyday of incredible deals. Newcomers could peruse various offers, then opt into a promotion based on freebies and tournament schedules without digging into their pockets.

Though deals for newcomers aren't as lean today, they are quite a bit more varied. There are deposit bonuses, free cash offers, and reload bonuses. In some cases, there are even 'throwables', which are virtual objects that players can lob at one another for fun while playing online.

With this in mind, are the days of killer online deals over? The short answer is no. However, these online deals should be differentiated by the quality of the company offering them, and the terms and conditions that apply. Invariably, the best deals are tied to loyalty programs, sign-up bonuses, and bundled deals. Let's take a closer look.

Loyalty Programs

Loyalty programs tend to differ by category. Retailers often have physical stores and online shops, while services like online poker, mentioned above, exist solely in virtual realms. Loyalty programs vary accordingly, with retail offering more flexible deals.

A solid loyalty program offers three things: exclusive rewards, personalized opportunities, and bundled offers. Those who have been with a company for a long period of time deserve access to the latest rewards, such as Sephora's deluxe product samples for loyal customers.

The second aspect is personalized opportunities. Typically, these are created from data collection. And lastly are bundled offers, which sometimes include deals from other groups under the same parent company. For example, Reebok's loyalty program includes access to partner events and special product releases.

Sign-Up Deals

With so much competition in open markets, new companies and established brands alike use sign-up deals to attract new customers. Sign-up deals are offered on nearly every product or service that requires users to create an account-from travel rewards credit cards to Rakuten to mom-and-pop nail salons.

There are two key factors in finding a worthy sign-up deal. The first is terms and conditions. Many groups, such as internet providers, tack on ridiculous terms that end up negating the attractive deal.

The second factor when considering signing up for a new group is to check for loyalty programs and points reward programs (most go hand in hand). Is there a time requirement to use sign-up offers? Is there an automatic sign-up for a loyalty program?

Bundled Promotions

It's common for companies to band together to offer a suite of attractive promos. They bundle these promos together to expand their client bases collectively (hence the term 'bundled). Sites like Groupon have revolutionized how online shoppers find e-coupons-and they've also brought bundled deals to the forefront.

Groupon posts time-sensitive promos from a range of companies. Many loyalty programs also connect users to bundled promos via email. For example, members of Dick's Sporting Goods ScoreCard program earn points for Golf Galaxy and Field and Stream as part of a bundled offer.

Most bundles are on offer from retail locations, like Dick's. However, bundles are also common in terms of tech solutions, such as the Microsoft Word Suite and Adobe Suites. Keep in mind that loyalty programs offer the most in terms of online deals, while bundled solutions are ideal for most one-time purchases.