What to buy

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What to do:

Most goods and services are available from more than one retailer or e-tailer. Often the same product costs different amounts at different stores or sites. Shopping around to obtain the best deal is referred to as comparison shopping. When making a major purchase, it is essential you compare the price, quality, availability and after-sales service. If: you know the cheapest price in the marketplace, you are in a better bargaining position. The prices are almost identical in all stores or sites. The most conveniently located store or the site you are familiar with is probably a wise choice. There is a lot of difference between the prices, the cheapest product may not always be the best buy because it may be of inferior quality, and consequently not last as long as more expensive items.

Types of Goods and Services:

Consumables: Consumables are items that are regularly restocked as they deteriorate or are used up by individuals and businesses.

Household goods: Household goods are items that are used regularly, and are a part of someone’s home.

Luxury items: Luxury items are goods that show high status to the rest of society, and are unnecessary

Repair services: Repair services are business services that help customers by keeping the purchased product functioning correctly.

Information services: Information services are services that brief and hold information for someone

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Impulse Buying = The tendency to purchase goods or services without planning in advance.

Why do we shop from other shops:

Shops cheaper than others: Usually department stores (Myer), variety stores (Big W) and large specialty stores (JB HI-FI) are cheaper than small independent retailers because they can carry more stock. Smaller retailers tend to focus on customer and after-sale service to stand out.

Cheaper brands: Highly reputable and well-known brands tend to be more expensive. However, this does not always mean a cheaper product is of inferior quality. Generally more expensive products will last longer, but it is a fine line balancing price and quality!

Pressure buying: Making a quick, unplanned decision can often lead to disatisfaction with your purchase as it may not meet your expectations or requirements and end up not being used. So be aware of impulse buying!