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The simple shopping hack that could save you up to £6,000 in 2022

The simple shopping hack that could save you up to £6,000 in 2022
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Everyone loves a good deal. There are few things in life that feel quite as good as buying something for less than its real value or what it typically sells for. 

If you are looking to save some money on your shopping this year, new research from price comparison site Idealo, published by financial website This is Money, has revealed a shopping hack that could potentially save you up to £6,000 in 2022. So what exactly is this hack? Read on to find out.

The shopping hack that could save you thousands in 2022

Research carried out by Idealo shows that savvy customers can save up to 154% (and up to £6,000 in total) on popular products such as gym equipment and games this year by picking the right month to buy.

The price comparison site examined the price history of over 100 products to determine the cheapest month to shop in 2022.

One of the primary findings, as highlighted by This is Money, was that January is typically the most expensive month to purchase large-ticket items such as exercise bikes and treadmills.

Shoppers may be better off deferring purchases of such items until later in the year when their prices are often significantly lower.

How much you can save on different items

This is Money has analysed the data from Idealo and highlighted some of the items that shoppers stand to make the biggest savings on by picking the right month to buy.

1. Exercise bikes (savings of 154% in July)

Getting in shape may be one of your New Year’s resolutions, but delaying the purchase of an exercise bike from January to July could save you up to 154%. This particular item costs, on average, £544.96 in January, but can be purchased for as little as £214.37 in July.

2. Air conditioners (savings of 153% in October)

According to Idealo, air conditioners are most expensive in January, costing an average of £809.67. However, the average price drops dramatically in October to £319.25, a reduction of 153%.

3. Treadmill (savings of 109% in March)

As with exercise bikes, the average treadmill is at its most expensive in January (£1,586.08) as most people resolve to get in shape in the New Year. However, the average price drops to £757.41 in March.

4. Paddling/swimming pools (savings of 79% in January)

This is one of the items that would actually be cheaper to purchase in January. Paddling pools and swimming pools cost around £213.30 in January, which is 79% less than in December when their cost is at a high of £419.79.

5. PlayStation 5 games (savings of 61% in December)

You can save up to 61% on PS5 games by purchasing them in December when they cost an average of £32.50, rather than in January when they cost £52.49.

Here are a few other popular items you can save a lot of money on by buying in the right month.

Item

Cheapest month

Most expensive month

Saving (%)

Lawnmowers

January – £421.62

December – £622.78

48%

Helmets

April – £72.74

December – £93.61

29%

Doorbells

May – £31.76

December – £49.82

57%

Smartwatches

June – £175.04

January – £202.61

16%

DSR camera

August – £1,097.20

December – £1,600.96

58%

Games consoles

September- £171.83

January – £252.94

47%

Strimmers

November – £30.34

April – £47.21

56%

Kids bikes

July – £216.56

January – £283.99

31%

Dumbbells

November – £48.41

April – £63.28

31%

 

The full list comprising the potential savings to be made on 100 popular products can be found on the Idealo website.

More tips to save money on shopping

Looking for more tips to save money on your shopping this year? Here are three that are worth keeping in mind.

1. Shop around

Comparing prices between different stores before purchasing an item is always a smart idea. There are stores that offer the same item but at a lower price, so do not limit yourself to just one store.

2. Sign up for cashback programmes

Paying for your purchases with a credit card that offers a generous amount of cashback can help you save a healthy amount on your shopping.

There are also cashback sites that will pay back a percentage of your purchase price when you go through them to spend with retailers. Two worth checking out are TopCashback and Quidco.

3. Sign up for sale alerts

Most major retailers have an email newsletter that you can subscribe to for regular alerts on events like sales or promotions. Signing up for newsletters from a few of your favourite retailers can help you stay up to date on the latest sales. That way you can take advantage and hopefully make some savings on your purchases.

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