Wednesday, February 22, 2012
Price Comparisons


Comparative shopping saves money and time.

1.Before you buy that cell phone, car, or a bottle of mineral, ask around to make sure that you are getting the best price for your money. Too many Nigerians are over paying for even basic items like minerals and bottled water. Here are some tips on comparative shopping for everyday items.

  • When shopping for items like food stuff in a grocery market, pay attention to the price of basic items like milk, eggs, and salt, if they seem over priced compared to what you have at a different store, chances are that the item you are buying is over priced as well. Try to shop at the stores that charge the least for basic items.
  • Try to buy non-food items (soap, deodorant, cosmetics, etc.) at a store and not at street corners or from street hawkers. If something doesn’t seem right about your purchase (expired drug, fake cosmetics, etc), you can always contact Consumer Protection for help or report the storekeeper to NAFDAC.
  • When shopping for these types of items, look at the different brands for the best deal. Sometimes, certain brands that are usually the most expensive might be on sale. Try to consider the amount of the item. Usually, the more of the item that is packaged, the better the price per unit. If this is difficult for some of the students to understand, use the following example: If 24 cans of pop cost =N=4.89 (about =N=.20 per can) and 12 cans of the same pop costs =N=3 (=N=.25 per can), the better deal is to buy the case of 24 cans. Buying the bigger package is generally the best option if you use the product frequently, and if it keeps for a long period of time. It is not a good deal to get a large package of sour cream if you are not going to consume it all before it goes bad.
  • Use coupons and sales wisely. Only buy something if you need it. If you need to purchase something and you have a coupon or it is on sale, it is a good deal. It is not a good deal to save =N=.35 on a product that you never use. Additionally, don't buy an expensive item just because you have a coupon or it is on sale. If the reduced price is still higher than a cheaper alternative, you are not getting a good deal.
  • If you have the extra money and the space, buy many items that you use if they are on sale. For example, if light bulbs are on sale, buy as many as you can afford. You always need light bulbs, so you have saved money in the long run by buying them at a sale price.


2.Review a process to purchase items people buy less frequently.

  • Identify the item that you want to purchase.
  • Write the specific name of the item down, the cost, and the store. Remind students that there are several types of products with the same brand name. For example, instead of just writing down Sony® radio, the person may want to write down the product number and features. This is especially important because different stores do not usually carry the exact same product.
  • Then do one of the following to find out what store has the best price. A)Go to the different stores and check on the price; B)Look in a catalog; or, C)Call each store to ask about the price. Remind the students that they should continue to write down information, so they can make a comparison.
  • If you think you have found a good product, can afford the product, and want or need the product, go ahead and buy it.


3.Have the students practice comparison shopping. Have them pick out an item in a catalog and then try to find the best deal by looking in the other catalogs.

4.As a follow-up activity, instruct the students to get together in about two weeks to discuss any purchases they made. The trainer does not need to be present for this discussion. Instruct the students to discuss comparative shopping strategies they used over the last couple of weeks.