Buyers face paying up to £ 365 for the same product, simply because they are not comparing prices at all retailers, new research reveals.
According to the price comparison website, Idealo, televisions are the item that varied most in price through the retailer with a maximum price difference of £ 364.77.
The Samsung Q90R 75-inch TV was the device with the greatest price discrepancy: in one retailer, it was £ 1,934 while in another it was £ 2,299, when the data was made.
Television problems: shoppers could save hundreds of pounds by making sure to compare prices, according to new data
The tablets were found to have the second largest price discrepancies with some that vary up to £ 166.
This means that those looking for items such as the latest Apple Macbook or the Microsoft Surface Book should make sure to shop around before deciding on the first one they see.
Idealo studied price data on all consumers, notes the disparity of costs among retailers that sell products ranging from laptops and headphones to washing machines and lawnmowers.
He used complete price comparison data on all retailers selling products in 40 different categories in December 2019 to compile the results.
He discovered that new parents should also be cautious when they jump into a stroller or stroller with prices that vary on average up to £ 147.
For example, the Cosatto Wow Fox Tale travel system can be purchased for between £ 549 and £ 841, representing a huge price chasm of £ 292 in the listed retail prices.
Smartphones are another item that has a very different price, depending on where you buy, with prices that vary up to £ 111.
Lawn mowers also differed greatly in price with costs that sometimes varied at £ 124.
For example, the Bosch Rotak 43 LI electric lawnmower can be purchased for between £ 350 and £ 395, which means that some pay an extra £ 45 for the same product.
Similarly, those looking to buy a new vacuum cleaner run the risk of overpaying about £ 50 if they don’t compare prices.
|Product category||Superior price difference
|Carts and strollers||£ 146.63|
|Lawn mowers||£ 124.20|
|Smart phones||£ 110.46|
|Food processors||£ 107.84|
The Dyson V8 Animal, for example, was listed as £ 318.40 at its cheapest price and the most expensive was £ 349, a price difference of £ 30.
In contrast, the categories of shopping products that see the lowest price fluctuation in the study are microwaves.
The Dyson V8 Animal has a price difference of £ 30, depending on when you buy at
Popular brands such as Panasonic and Russell Hobbs only varied in price at £ 6.05 on average at online retailers.
This was followed by the much-loved Barbie range in the children’s toys category that only represented a price disparity of £ 6.23.
The third category of products that varied less in price were baby monitors, although many parents would see an average savings of £ 10.75 when comparing prices.
Katy Phillips of Idealo said: “ Unless it is an obvious selling period like Black Friday, unfortunately few buyers think about price comparison and, as a result, they are being hit hard in the pocket.
“Our research reveals that the essentials of every day even the most expensive items can vary greatly in price and, however, buyers take seconds to track which retailer is selling the same product as others at the lowest price.”
Five tips to get the best price.
1. Price comparison sites: Customers who wish to buy a high-priced item, or even one that is less expensive, are recommended to use price comparison websites to see if they can get the same product for a lower price elsewhere.
There are a variety of these sites to choose from, in addition to Idealo, there are Pricesearcher, Kelkoo and Price Runner.
2. Set a price alert: It is also advisable to set price alerts on specific items that interest you, as this will indicate when the cost has been reduced.
This is a good option if you are not in a hurry to buy something, for example, if you are looking for a new TV, sofa or iPad, but you do not need it immediately.
Price alerts will tell you how much something has been reduced as of that date.
3. Stay safe: When you buy an item online, make sure it is from a reputable website.
While seeing a product for a low price is tempting, if it seems too good to be true, it probably is.
One way to verify this is to make sure you have the padlock in the upper left corner with the word ‘safe’.
This generally means that the website you are viewing is secure and that traffic to and from the site is encrypted.
Encryption means that no one but that site can read the details of the credit card and / or the passwords you enter there.
It is also worth reviewing the reviews of the site you are looking for online to see what other users have said about it.
In addition, it is worth noting that some websites sell refurbished items, such as mobile phones and laptops, that will seem much cheaper than a new item.
4. Buy with a phone: When shopping on the main street, it is worth looking to see if you can get the same product online for cheaper.
Amazon is always a good place to start, while price comparison sites can also be useful: then you can decide if you should wait and buy somewhere else, or just get it there and then.
5. Money back? Money back websites have become increasingly popular in the last decade and could get a substantial return on the money they are already spending.
Quidco and Top Cashback are two of the best known websites and both offer users up to 15 percent cash reimbursement spent online and in street stores.
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