Retailers accused of increasing prices during January sales, labeled as “deeply dishonest”

A recent report has warned that shoppers who rush to take advantage of the January sales may end up purchasing products that were actually cheaper six months ago. According to analysis conducted by PriceSpy, a website known for tracking prices across more than 6,000 online retailers, 46% of products were found to be more expensive at the beginning of January compared to the preceding six months. Furthermore, the study revealed that three in 10 items were at least 10% pricier than they were in the latter half of 2022.

While many of these items are being advertised as discounted in the January sales, the report suggested that the actual reductions in prices were not as widespread in recent years. Only just over a quarter of the products surveyed were found to be cheaper at the start of January compared to the start of December, while 32% were more expensive.

The report also found that several products advertised as being on sale in the January sales were actually priced higher than they were mere months before. For instance, a Samsung 4K Ultra HD LCD Smart TV that is currently being sold at Currys for £499 was priced at £479 in April, as reported by PriceSpy. Similarly, a Krups Nespresso VertuoPlus coffee machine currently on sale for £180 at John Lewis was priced at £164.99 in October.

A spokesperson from John Lewis stated that the retailer had invested £500m to provide customers with great value prices all year round. Currys has yet to respond to the report.

This is not the first time PriceSpy has warned shoppers about retailers inflating prices before major sales events like Black Friday, Boxing Day, and the January sales. The practice is done in order to offer seemingly large discounts.

Martyn James, a consumer champion, criticized retailers for being “deeply dishonest” by marketing their January sales items as genuine discounts. He called for stricter regulations in the retail sector and the establishment of an ombudsman and regulator to ensure accountability.

According to Liisa Matinvesi-Bassett, an expert from PriceSpy, retailers are now less likely to offer significant discounts due to a combination of decreasing shopper demand and inflation. She explained that many products tend to be at their highest prices in January and advised shoppers to carefully monitor prices.

Matinvesi-Bassett stated, “Big sales in January are no longer a guarantee. This year, we’ve witnessed a decline in the level of January sales, similar to the peak of the Covid-19 pandemic in January 2021, when the country was under lockdown. Retailers’ sales tactics can be quite unpredictable, and the days of traditional sales periods are behind us.”