Mobile shopping apps aren't just limited to items at the mall, however. They exist for nearly every segment of the market.
Consumers who wish to find the lowest price at the pump, for example, can download Gas Buddy, Gas Guru or Waze, while those who seek to save on the soaring cost of medication can turn to tech as well.
The LowestMed app, for example, compares prices for brand name and generic prescription drugs at supermarkets and pharmacy chains close to home. GoodRx does the same, noting the coupons and savings tips it provides can save its users 50 percent or more on prescription costs.
Lastly, travelers can lighten their load by using airfare alerts, consumer ratings and price-comparison apps that cater to their needs.
Kayak, Airfarewatchdog, Orbitz and Hipmunk all offer fare alerts to destinations on your wish list. Hotwire tracks hotel- and car-rental deals, and TripAdvisor includes restaurants, flights and rental cars.
Armed with mobile apps, consumers today are better equipped to make smart buying decisions.
But price-comparison tools and coupon aggregators deliver another important benefit as well — keeping retailers on their toes.
"Even Amazon's own app has a bar-code scanner built in, which should probably send shivers down the spine of retailers everywhere," said Spoonauer.
— By Shelly Schwartz, special to CNBC.com