Exactly how much should a coffee machine cost?

Whilst some may be feeling inspired by The Block and kitting out their homes with the latest must-have appliances, research from fully impartial price and product comparison site, PriceSpy, uncovers new eye-opening insights that reveal dependent on where consumers shop, the exact same homeware item may cost up to 59 per cent more.

Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “Our latest insights looked at the price points for the top ten most popular products on PriceSpy across a range of homeware shopping categories, including fridge freezers, espresso machines and washing machines.

Of the 100 products researched, overall findings were relatively alarming. For example, 35 per cent of the items were found to have a price difference equating up to 40 per cent.

Key PriceSpy research findings:
• 89 per cent of items were found to have a price difference equating up to 20 per cent or more
• 66 per cent of items were found to have a price difference equating up to 30 per cent or more
• 35 per cent of items were found to have a price difference equating up to 40 per cent or more
• 9 per cent of items were found to have a price difference equating up to 50 per cent or more

Liisa continues: “As consumers, we expect to see small price variants between retailers however, when these amounts equate to a massive $1548 for the exact same product, as for the Fisher & Paykel RX611DUX1 (Stainless Steel) fridge freezer, we need to help consumers make more informed purchasing decisions to ensure they aren’t spending hundreds, if not thousands of extra dollars.”

Top ten culprits (percentage difference):

Liisa concludes: “Using a price comparison site like PriceSpy provides full pricing transparency to consumers, so they can make informed purchasing decisions 24/7 and the money that they save, can potentially be put towards a new washing machine!”

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