The rate of growth of online shopping and specifically mobile shopping has been tremendous. Online retailers are using every necessary tool available to get their products on every mobile device available.

Now, that’s good new for you if you consistently shop with your mobile device. The ultimate power is with the consumer because they have choice, not just any choice but competitive choice with retailers competing on price.

Whatever you intend to purchase online, I bet you always try to find the best price out there before you make the all important decision to make the final exchange. Well, these are a few ways to find some of the best prices on almost everything you want to buy online.

1. Have you tried social commerce sites yet?

Social commerce sites like Polyvore, Svpply, Fancy, Fab and Wantworthy are making it easy to find some of the best products you are looking for. You also have the opportunity to check them out and get recommendations from friends before you finally make a decision to purchase.

These social commerce sites show a collection of items, mostly based on a curated selection or what other members have recently bought and liked. You can even find out what your friends are buying.

Social shopping sites also let you  find and follow your friends and favorite brands or shops, which creates a feed akin to those on Instagram, Twitter or Facebook. The best part of the feed is that you can know when new stocks arrive and the best prices.

2. There is a mobile coupon for that!

In the first half of 2011, consumers saved about $2 billion by using coupons, a study by NCH Marketing Services Inc. Imagine how much consumers will save by close of this year. Don’t be left out.

The coupons market have increased significantly and retailers are cashing in, but consumers are benefiting the most. Find that coupon for the new product you found this week and get that discount, you deserve it. Whatever you needs are, there are discounts you can take advantage of.

Technology companies like Sky offers sky voucher codes on voucher sites to make it easier for you to get the best deals out there, chances are that new product you intend to buy this month has discount codes on some of your popular mobile coupon sites.

Guess what, they’re easier to find and organize on your smartphone. Check out coupon apps like Groupon, SnipSnap and ShopKick, they are built to help you compile savings from different stores and brands. You can even connect with friends to share coupons.

3. To save time, try price comparison sites

Price comparison sites have proven to be the best place to search for great prices. Their algorithms does all the job for you-they find the lowest prices  and show them to you in one place. You can try PriceGrabber.com, Pricewatch.com, and Shopping.com.

4. It Pays to wait!

Patience is the of the best virtues for shoppers who want to get the best deals out there. Don’t rush make a purchase immediately a product launches. Of course if you re an early adopter this could be difficult.

The iPhone 5S is here to stay, hang on if you want the best deal. Being the first to purchase a product always means paying the full price, but waiting can mean you’ll get a discount. There is always a discount at the next stop, just wait.

What you can do is to look out for the end of a product cycle, you can also make your move while the inventory is being cleared out or better still after new inventory has been released. When a product cycle is predictable (example digital goods), you can always get a good price if you can wait.

How do you get the prices for the products you buy on online. Share with us in the comment box below.