Bargain prices 106% cheaper than standard ones
London, 28th June 2011 – Twenga, the open shopping platform with the biggest choice online, reports a standard school supplies basket costs £199 this year, compared with £195 in 2010 - a slight increase of 1.74% compared to last year’s dramatic 30% rise.
British prices are still far higher than on the continent this year, with regular prices being £134 in France and £156 in Germany.
The study is based on a basket of 16 standard supplies such as pencils, pens, erasers and notebooks. It analysed the price of 284,650 back to school products for pupils in the UK, France and Germany and it shows:
A regular price of £199 – this is an average price, technically the median price – which rose by 1.74% since 2010.
A bargain price of £96– this is the price of the bottom 25% of products, technically the first quartile figure – which rose by 2.23% from the 2010 price.
There is a significant gap between bargain prices and standard prices: the standard school supplies basket is 106% more expensive than the bargain one, showing British consumers should look closely for the best deal before next term.
However, the future is promising for British consumers as prices, even though still rising, are levelling off.
Twenga put together a shopping basket of back to school equipment, choosing 16 products (see list below) used by students and marketed simultaneously across the UK, France and Germany.
The benchmarking studies showed:
In mid-June 2011, Twenga analysed 284,650 product prices from 14,361 online shops: 5,615 in the UK, 2,340 in France and 6,406 in Germany.
In mid-June 2010, Twenga collected 181,446 product prices from 9,111 online shops: 3,310 in the UK, 1,684 in France and 4,117 in Germany.
In early June 2009, the study considered 98,939 product prices from 3,956 online shops: 1,339 in the UK, 1,060 in France and 1,557 in Germany.
In August 2008, Twenga took 83,440 product prices from 1,924 online shops: 826 in the UK, 352 in France and 756 in Germany.
To calculate the ‘regular price’ shown in its study, Twenga added up the median price for each item. The ‘bargain price’ represents the price from the bottom quartile for each price (the lower price range) for each product. Twenga uses the median price to avoid the data becoming biased by extreme cases.
The list of school products used for the study includes: ballpoint pens, fountain pens, pencils, pencil erasers, binders, pen eraser rewriters, drawing compasses, A4 notebooks, pencil cases, school bags, glue sticks, academic diaries, children's scissors, scientific calculators, flat rulers, set squares.
Twenga is the open shopping platform with the biggest choice online.
Thanks to its proprietary technology, Twenga gathers on its websites all retailers, products and prices it finds on the Web.
Founded in 2006 by Bastien Duclaux and Cedric Anes, Twenga runs 15 sites, including the UK, France, Spain, Italy, Germany, the Netherlands, Poland, Brazil, Russia, the United States, Australia, Japan and China among others, displaying 400 million offerings from more than 200,000 online shops. Twenga’s sites received 45 million visits in November 2010. In the same year, Twenga won the Red Herring 100 Global Award, the Young Technology Leader Award and the Ernst & Young Entrepreneur of the Year Award in the Company of the Future Category.
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