As of: March 14, 2024, 5:45 p.m
By: Marco Blanco Ucles
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When purchasing consumer goods such as electronics or fashion, the time of purchase can play a major role in the price, a study has found.
Just run out and shop for what you need to furnish your home or what is currently missing from your wardrobe?
This is probably how most people in Germany handle it.
A mistake, as a study by the
British bank
Barclays shows.
The core essence: Prices for various goods vary extremely over the course of the year.
The constantly changing prices cost German households a lot of money every year.
To do this,
Barclays
recorded the price difference between the cheapest and the most expensive month for selected products.
Over 2,000 euros in additional spending due to price fluctuations on average per household
The study, first reported by
Reuters
- an international news agency based in London - shows the enormous impact of price fluctuations on consumers.
Because every German household had to spend an average of 2,268 euros more in 2023 - regardless of whether it was in cash, with a card or via Paypal.
Overall, this is an additional burden of 94.5 billion euros nationwide.
When it comes to shopping, it's all about the right time - this can save consumers a lot of money.
© Ralph Peters/IMAGO
The good news: Compared to 2022 - at that time the average was around 2,500 euros - the number has gone down slightly.
No coincidence, as Tobias Grieß, Barclays manager for private banking in Germany and Austria, emphasizes: “Like inflation, the level of price fluctuations has also reduced in 2023 compared to the previous year.
Nevertheless, there remains enormous savings potential for consumers if they plan some purchases cleverly.” This is shown by a look at the years 2015 to 2021, when the average was still 1,443 euros per household.
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It should be emphasized that a large part of the deficit is not the fault of the consumer.
Around 74 percent of the 2,268 euros can be attributed to expenses that are difficult to control, such as food, rent, energy and transport.
However, people spend the remaining 26 percent – 586 euros per household – on consumer goods.
Things that are by no means necessary for daily survival.
Things that can save a lot of money through clever timing.
Car accessories at the beginning of the year, PC accessories at their cheapest in spring
The study also says when consumers should shop in which sectors to save money.
Accessories for the car as well as purchases for the home and garden - such as bathroom mats, which by the way cannot be cleaned in the washing machine, should be bought at the beginning of the year, in January and February.
With spring slowly approaching, it's time for consumer electronics: According to
Barclays
, headphones, e-books and PC accessories are cheapest to purchase in March and April.
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It's almost logical that the wave of offers at Christmas plays an important role in the statistics.
According to the study, electronic devices such as mobile phones without a contract, televisions, laptops or game consoles are cheapest to buy in November and December.
In mid-summer August, it's particularly worth going on a bargain hunt for fitness trackers, camcorders or smartwatches.