Retailers selling same product for $1500 more

New research has uncovered different retailers in New Zealand could be selling the same homeware product by a variance of more than $1500.

The eye-watering results were found after the price points for the top 10 most popular products on website PriceSpy were investigated.

More than one-third of the products were found to have a difference equating up to 40%, in one case a variance of 59% was recorded.

One hundred products were researched and the overall findings were alarming, said PriceSpy country manager Liisa Matinvesi-Bassett.

A difference of more than $1500 was discovered between retailers for the Fisher & Paykel RX611DUX1 (Stainless Steel) fridge freezer, for example, she said.

According to PriceSpy's website, the fridge freezer is being sold at the price of $4005 at Forlongs, $3699 at Noel Leeming and $2985 at Farmers.

However, other retailers including 100% Newbolds, Magness Benrow, 100 % Extreme Appliances and Heathcotes are selling the same item for $2498.

Other products researched included fridge freezers, espresso machines, and washing machines.

The biggest percentage difference, with 59%, between the cheapest and most expensive price went to the DeLongi Nespresso Essenza Mini EN85.

The cheapest price the espresso machine was listed was for $124 at Harvey Norman and the most expensive $299 at JB-Hi-Fi — a difference of $175.

Breville's BSB310 blender followed in second place with a 58% variance and a difference of $72 - its cheapest price $52 at AppliancePlus and most expensive $124.99 at Noel Leeming.

PriceSpy helped provide pricing transparency to consumers so they could make informed purchasing decisions and save money, Matinvesi-Bassett said.

"As consumers ... we need to help consumers make more informed purchasing decisions to ensure they aren't spending hundreds, if not thousands of extra dollars."

PriceSpy also found nine% of the products had an increase equating up to 50% or more.

Top 10 percentage variances as of August 9

• DeLonghi Nespresso Essenza Mini EN85 (Espresso machine), 59%

• Breville BSB310 (Blender), 58%

• Kenwood Limited KVC3100 (Kitchen machines), 57%

• Russell Hobbs 18569 1L (Kettle), 56%

• Breville The Soft Top BKE700 (Kettle), 54%

• Breville The Soft Top BKE700 (Kettle), 53%

• Sunbeam Mini Barista EM4300 (Espresso machine), 52%

• Sunbeam Capri Glass KE6100 (Kettle), 52%

• Bosch WAN22120AU (Washing machine), 50%

• Haier HWT60-AW1 (Washing machine), 49%

Prices and popularity figures correct as of August 9, 2019.

Comments

And this is why people buy offshore.

 

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