42% price difference between popular retailers, Mozo mystery shop shows
They say the key to keeping your Christmas shopping on track is to start early. But when it comes to keeping your spending in check, new Mozo research has found that taking the time to compare deals might be just as important.
Following a Christmas mystery shop of twelve popular gifts, Mozo found there was an average 42% price difference between retailers. The minimum price difference on all items surveyed was 20%.
For instance, a popular Jean Paul Gautier 100ml perfume at its most expensive was $169 and $69 at its cheapest - a price difference of an impressive 141%.
Another standout find was the Smeg coffee machine, which clocked in at $549 at its dearest and $449 at its cheapest, recording a price difference of 22%.
“Mozo’s festive mystery shoppers found there are major savings to be made if you do your research this Christmas and shop around,” said Mozo Director, Kirsty Lamont,
“While this can be a daunting task, especially if you’re heading into stores, a quick search online could you see you pocketing hundreds of dollars, as retailers’ pricing varied across a wide range of popular gifts.”
In addition to the heavily discounted prices, Mozo’s mystery shoppers also noticed ‘free gifts’, ‘samples’ and the opportunity to claim loyalty points were used as incentives to purchase goods online.
However, Lamont has reminded shoppers to remember the bottom line when it comes to scoring a hot deal.
“Many stores are all about breeding loyalty with their customers through rewards points or samples, but the danger of this is failing to consider more affordable alternative retailers,” said Lamont.
Mozo’s top Christmas tips for frugal festive shopping
For many Aussies, 2020 has been the toughest financial test yet. If cash remains tight, there are a few ways to keep your spending from going overboard. Check out our top four tips for frugal Christmas shopping:
- Get organised early: As the saying goes ‘the early bird gets the worm’, and an easy way to keep your Christmas shopping within the budget is to start early. By getting organised as early as possible, you’ll prevent a frenzied shop later where you’ll most likely overspend.
- Be responsible with Buy Now, Pay Later: If you are planning on using Buy Now, Pay Later platforms to help you through the festive season, just be sure to only make the purchases you manage to avoid falling behind in the new year.
- Go homemade: With the year taking an emotional toll on many households, why not use Christmas as an opportunity to give with your heart by making homemade gifts. Or if you prefer to not try your hand at creativity, organising a Secret Santa amongst your friends and family is also a great trick to minimise costs.
- Shop savvy: If you have a preferred retailer you want to purchase from but found an item cheapest elsewhere, take screenshots of the price and ask if they’d be willing to price match.
Want more tips and tricks on how you can keep your Christmas shopping within budget? Check out our Family Finances hub!