The PriceSpy research found:
Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy, says: “After more than two years of international borders being closed and people not being able to travel overseas, our latest research suggests Kiwis are once again keen to explore the world - with many looking to buy travel-related goods and accessories, such as suitcases.”
But with inflation rates sitting at a thirty-year high in New Zealand and price points across many goods increasing as a result of the ongoing impacts caused by Covid-19, is now the best time to buy a new suitcase? PriceSpy’s Price Index insights suggest perhaps not!
“Even though it’s great to see New Zealanders are looking to travel overseas and buy travel-related goods and accessories, we encourage shoppers to keep a close eye on how much they are paying, as our Price Index Indicator, a tool that monitors daily indexed price points across the most-popular products listed on our site, suggests price points across many travel-related shopping categories are in fact going up,” says Liisa.
Compared to the start of the year, the indexed price across the shopping category of bags , which includes suitcases, is rising - up +4.32 per cent. Similar hikes were also found across other travel-related shopping categories - the indexed price across the most-popular DSLR cameras rose +5.18 per cent and for camera bags it was +6.67 per cent.
Liisa continues: “Right now, price points across many consumer goods are rising, so now more than ever, it’s really important for shoppers to carry out important price research before they buy.”
But it’s not all bad news. PriceSpy’s research did find not all travel-related goods were increasing in price!
Compared to the start of 2020 (before Covid-19 impacted supply chains in New Zealand), the indexed price for sunglasses was found to have dropped (at -6.68 per cent). And compared to the start of this year, it dropped-5.28 per cent.
Liisa concludes: “Our research did uncover some good news for consumers - the indexed price across the shopping category of sunglasses was bucking the trend and dropping, which is great news for those looking to book an overseas trip to somewhere bright and sunny.
“However, with prices points across many shopping categories rising, for anyone in need of some new travel accessories, we strongly encourage people to not panic buy. Instead, they should take their time and do some pricing due diligence first.
“As well as looking for the store that offers the best price, shoppers should also check out a product’s price history to see how much the item they are looking to buy has been sold for historically***.
“Free websites and apps, like PriceSpy offer this information to help shoppers make a more-informed purchase decision as to whether the price the item is being sold for today is actually worthwhile buying.”
PriceSpy is a comprehensive price and product comparison service used by millions of consumers every month. It helps consumers find, discover, research and compare products. Since the business first started in 2002, its main objective has been to help consumers make better purchasing decisions. PriceSpy does this by collecting and sharing honest, transparent information about retail stores, products and prices. PriceSpy has 108,000 indexed products, 1,730,000 indexed prices, 584,000 product ratings, 7,510 store ratings and 1183 stores. Providing a fully impartial comparison service for consumers and a deep depository of price data for retailers. PriceSpy is part of Schibsted and is located in Sweden, Norway, Denmark, Finland, New Zealand, France and the United Kingdom. The PriceSpy app is available to download for free, via the App Store and Google Play.