PriceSpy is warning shoppers to beware of seasonal price hikes. Photo / Supplied
PriceSpy is warning shoppers to beware of seasonal price hikes. Photo / Supplied
With the change in season it seems Kiwis are getting into the spirit of spring cleaning.
New data from price comparison website PriceSpy shows interest in lawn mowers, water blasters and barbecues is heating up, with online searches up 81 per cent, 52 per cent and 55 per cent respectivelythrough August and September.
Searches for sunglasses were up 83 per cent in the same period, searches for smartwatches up 50 per cent, tents up 44 per cent and drones up 42 per cent.
Interest among suitcases was also up 35 per cent, alongside backpacks.
Traditionally at this time of the year PriceSpy sees a surge in interest in vacuum cleaners. However, after what has been the wettest winter on record, the change in season seems to be spurring Kiwis to get outside and tidy up the exteriors of their homes instead.
With demand for outside equipment, goods and accessories strong, PriceSpy is warning shoppers to be aware of seasonal price hikes.
Its data shows that since the start of winter the price points across the garden category have risen 7.2 per cent, and prices for barbecues have increased by 8.1 per cent.
PriceSpy New Zealand country manager Liisa Matinvesi-Bassett said it paid to do some research and shop around for savings before making a purchase.
"Even though the change in season appears to be encouraging Kiwis to get outside and spring clean their property, before making a rash purchase decision about a new mower or pressure washer, be sure to carry out some quick and easy price research first.
"Whilst these types of products may save time in doing the jobs at hand, our insights reveal some items and categories are subjected to seasonal price hikes - and are more expensive to purchase in the spring compared to the winter.
"As well as looking for the store that offers the most competitive price, shoppers should also look at a product's historical pricing information on a comparison site, like by PriceSpy. This will help them make a more informed purchase decision about how much a product should actually cost."
Liisa Matinvesi-Bassett, New Zealand country manager for PriceSpy. Photo / Supplied
Retail NZ's last Retail Radar Survey for the quarter to June 30 found retail prices continued to increase through the first half of the year, with an average price increase of 6 per cent reported by retailers.
The report outlined that retailers anticipated a similar outlook for the current quarter with more price hikes imminent. Just over 80 per cent of retailers said they expected to further increase their prices over the next three months. Data for three months to September will be out next week.
In the three months to June, persistent inflationary pressures has resulted in 71 per cent of retailers increases their prices.
For three consecutive quarters, retailers have seen quarter-on-quarter price increases that sit between 6 and 7 per cent – equating to an overall increase of 18 and 20 per cent.
The cost of operating a retail store has increased significantly, the report outlined, in particular freight and shipping costs, as well as the cost of labour. This has meant retailers have been forced to pass on increasing costs to the consumer.
