Savvy shoppers in the UK have the opportunity to save over £3,000 across popular product categories in 2024, according to experts. Price comparison site idealo.co.uk has analyzed the price history of more than 70 household items over the past five years, revealing the best and worst times to make purchases. The analysis includes everything from tech and fashion to white goods and children’s toys, offering insights into the ideal months for snagging the biggest savings.
By understanding the optimal months for certain purchases, consumers can make informed decisions and maximize the value of their money. Seasonality plays a significant role in pricing strategies, with prices fluctuating based on demand. For example, prices of BBQs significantly inflate in March as the demand for outdoor grilling grows. Similarly, lawnmower prices experience a similar trend in May as people begin preparing their gardens for summer.
While Black Friday is widely known as the cheapest shopping day of the year, retailers consistently offer promotions throughout the year, surprising consumers with opportunities for savings. With patience and careful planning, shoppers can save up to 60% throughout the year, whether they’re buying big-ticket items or everyday household products.
Below is a breakdown of the best and worst buys for each month in terms of savings and price increases:
– January:
– Best buy: Trainers (70% savings)
– Worst buy: Outdoor jackets (9% increase)
– February:
– Best buy: Treadmill (31% savings)
– Worst buy: Air fryer (2% increase)
– March:
– Best buy: Women’s perfume (9% savings)
– Worst buy: Vacuum cleaners (23% increase)
– April:
– Best buy: Ovens (11% savings)
– Worst buy: Kids outdoor toys (17% increase)
– May:
– Best buy: Trampoline (34% savings)
– Worst buy: Lawn mowers (16% increase)
– June:
– Best buy: Ski gear (13% savings)
– Worst buy: Sports equipment (9% increase)
– July:
– Best buy: Smart phone (11% savings)
– Worst buy: Toaster (7% increase)
– August:
– Best buy: Men’s fragrance (9% savings)
– Worst buy: Barbies (5% increase)
– September:
– Best buy: Tablet (13% savings)
– Worst buy: Ovens (16% increase)
– October:
– Best buy: Air conditioner (16% savings)
– Worst buy: Men’s fragrance (19% increase)
– November:
– Best buy: Running shoes (56% savings)
– Worst buy: Football boots (7% increase)
– December:
– Best buy: Vacuum cleaners (25% savings)
– Worst buy: Speakers (18% increase)
Taking a closer look, the data reveals that consumers can save over £744 during January and February alone on fitness product categories like running shoes, cross trainers, treadmills, and balance bikes. This is timely for those looking to kickstart the new year with a fitness regime after the holiday season.
For those planning ahead for summer, it’s important to note that buying a BBQ in March will cost 12% more compared to other months. To save over £50, it’s advisable to compare prices around October. Paddling pools follow a similar pattern, with prices being 19% higher in March compared to the cost-saving September and October months.
By analyzing trending products, idealo has also identified specific days when significant savings can be made:
– January 30: Cheapest time to buy the Ickle Bubba Stroller, saving £41
– April 10: Cheapest time to buy YSL Black Opium Eau de Parfum, saving £7
– December 8: Cheapest time to buy Dyson Airwrap, saving £110
It’s important to note that prices can fluctuate throughout the year due to various factors, including consumer demand, competitor prices, and even the weather. idealo recommends setting price alerts for desired items to be notified when they reach the desired price, ensuring the best possible deal.
In conclusion, with careful planning and knowledge of optimal buying periods, UK shoppers have the opportunity to make substantial savings on a wide range of products throughout 2024.
