We are no longer the second most expensive country in Europe – except for cigarettes and condoms…PriceRunner Research has studied price developments in the European market since July 2002. These reports act as an extension of the retail/ pricing trend analysis PriceRunner conducts for its clients.

The price comparison study for December 2003 examines 44 different consumer goods and home electronic products from 16 European countries. The results detail price variations between all European countries. In total, 1,476 prices were collected.

Findings in brief:

Home electronics – UK prices are rising

The price comparison reveals that the UK is the fourth cheapest country in the EU for home electronics, with Switzerland, Italy and Austria having lower prices within Europe. However, last year UK was the cheapest country within the EU for home electronics so the prices have increased during 2003.

The chart below shows the average deviation from the European average prices, for home electronic products.

Large price differences for consumer goods

There are large price variances amongst consumer goods. Once again Norway is the most expensive country in Europe. UK prices are at par with the European average and have decreased since the beginning of 2003 when UK was the fourth most expensive country. Some Norwegian prices exceed the European average by a 42%, whilst Italy has prices that are 25% less than the average.

23 consumer goods were compared. Products included in the consumer goods survey included: condoms, nappies, a bottle of Coca Cola, Marlboro Lights and Pringles. Also a bus ticket, a McDonald’s meal and a liter of petrol are included. (A full description can be found below.)

Don’t buy your condoms or cigarettes in the UK!

Condoms and cigarettes are more expensive in the UK than any of its European counterparts. However, its cheap newspapers, dishwashing liquid, biscuits and fast food make up for it. Shopping for consumer goods is cheap in, for example, Italy or Austria, but you want to fill up your car and buy you liquor in Greece. To go by bus in one zone costs €0.45 in Greece, whereas it is 82% more expensive in Netherlands – costing €2.50. You have to pay an average of €5.29 for Durex Elite Condoms in Greece while it costs €13,13 for a 12 pack in UK. The UK is the cheapest for newspapers, dishwashing liquid, hamburgers and camcorders but the most expensive for condoms and cigarettes (Marlboro Lights).

The survey

PriceRunner employees are based in all 16 European countries and collected all the prices featured in the report. The countries included in the survey are shown below, with specific town information from where the prices were gathered (shown in brackets.)
Austria (Vienna), Belgium (Brussels), Denmark (Copenhagen), Finland (Helsinki), France (Paris), Germany (Berlin), Greece (Athens), Ireland (Dublin), Italy (Milan), Netherlands (Amsterdam), Norway (Oslo), Portugal (Lisbon), Switzerland (Geneva), Spain (Madrid), Sweden (Stockholm), Germany (Berlin).

Where possible, three prices were collected for each product and the mean average has been used as the country’s price for the product. No less than two prices per product per country have been used, with the exception of those products where prices are standardized, e.g. alcohol in Sweden, or McDonalds. Prices, in most cases were collected from multiple-outlet retail stores, to ensure that they are as closely representative of each country’s typical prices as possible.

A European average price has been calculated, by compiling all countries’ prices for each product. Thereafter each country’s average price has been divided by the average price for all countries, generating the “Average price deviation in relation to European average” that is presented in the above charts. As a number of products are included in for example “Home electronics”, an average of the deviations has been calculated for home electronics in each respective country.

The prices were collected during 18 Nov-2 Dec 2003. The exchange rates are from the European Central Bank, Dec 5, 2003. (see: www.ecb.int)

Products included in the comparison of consumer goods are:

Coca-Cola, Marlboro Lights, Magnum Classic, Newspaper, Durex Elite Condoms, Pampers Easy Up Pants, Pringles Original, Tropicana orange juice, McVities Digestives, Barilla Gnocchi, Yes Dish liquid, McDonald’s Hamburger, McFlurry, Big Mac, Cafe Latte & Chocolate muffin from café, Biotherm Deodorant, Poême Eau de Parfum, Absolut Vodka, Jack Daniels Whiskey, Veuve Clicquot, Bus ticket and 1 liter of petrol.

Products included in the comparison of home electronics are:

Sony Playstation 2, Microsoft Xbox , Nintendo Gameboy Advance, Fujifilm FinePix S7000, Canon Digital IXUS 400, Nikon Coolpix 2500, Canon EOS-300D, Sony CyberShot DSC-P10, Canon PowerShot A70, Sony DCR-TRV33, JVC GR-D20, Panasonic NV-DS60, Philips DVDR70, Panasonic DMR-E50, Philips DVDR80, Philips 32PW6006, Sony KV-32FX68, Toshiba 32ZP38.

Background information
PriceRunner.com is one of two business areas within Pricerunner. Pricerunner.com offers product and price comparisons in the categories personal care, books, computers, films, finance, games and consoles, golf, home appliances, home cinema, household bills, insurance, music, phones, photography, software and sound and vision. Pricerunner.com was the first site in the UK to compare information from both online and high street stores. By giving the consumer an objective and informative overview, Pricerunner.com makes it easier for the consumer to make a smarter purchase more quickly. The other business area is Pricerunner Research, which generates and refines statistics based on data from Pricerunner.com, e.g. price statistics, product statistics and consumer behaviour statistics. Pricerunner was founded in July 1999 and the service was launched in December 1999. The main owners are NewMedia SPARK, Bonnier Venture, TDC (former Tele Denmark) and 3i.

For more information please contact the press office:
Peppercom UK Ltd.
Tel: 0207 253 0265
Email: fhollis@uk.peppercom.com gfirth@uk.peppercom.com
www.pricerunner.co.uk
Fiona Hollis mobile: 07973 906 965
Georgina Firth mobile: 07778 241 333