When buying consumer goods, the wrong time can cost consumers dearly, a study shows. The price differences are enormous, especially when it comes to clothing, household goods and electronics.
According to a study, the wrong timing when buying consumer goods costs German consumers a lot of money. A study for the bank Barclays found that constantly changing prices cost each household an average of 2,268 euros last year. That is a burden of 94.5 billion euros.
The sum is therefore below the 2,500 euros in the record inflation year of 2022, but still well above the average for the years 2015 to 2021 of 1,443 euros. “Like inflation, the level of price fluctuations has also reduced in 2023 compared to the previous year,” said Tobias Grieß, the manager responsible for Barclays’ private customer business in Germany and Austria.
Good timing saves money
The prices for clothing in particular fluctuated above average: According to the analysis, the average difference between the cheapest and most expensive month was 10.6 percent. The prices for household and garden items fluctuated by 6.8 percent, and those for electronic items, cars and car accessories by 5.4 percent each.
Almost three quarters of the additional burden was in the areas of food, transport, rents and energy, although people cannot influence when they buy these. “Nevertheless, there remains enormous savings potential for consumers if they plan some purchases cleverly,” says Grieß.
The remaining 26 percent of the costs – a total of 586 euros per household – relate to purchases of consumer goods. According to the study, you can save money here if you make your purchase at the best time.
Cars and household goods are cheaper at the beginning of the year
After that, consumers should look out for bargains on cars and car accessories as well as purchases for the home and garden in January and February. When it comes to consumer electronics, however, you have to take a closer look. Statistically speaking, e-book readers, headphones and PC accessories were cheapest in March and April.
In August, it’s worth watching the prices of smartwatches, fitness trackers and camcorders. In the run-up to Christmas in November and December, however, you can often get good prices for laptops, home cinema systems, games consoles, televisions or mobile phones without a contract.