OFT urges consumers to shop around for savings

Consumers are being urged to use their spending power – and shop around, not just in terms of price but also after-sales service, delivery terms, and any extras that might be offered by retailers.

An Office of Fair Trading (OFT) campaign is encouraging consumers to explore their options, and not to simply accept the first thing that is offered.

Consumers should not be embarrassed to negotiate on price and ask for a better deal, the OFT has said.

In a snapshot survey the OFT found that consumers could save almost £200 on a 32" flat widescreen TV, simply by comparing high street prices with those on the internet. Savings could also be made with other electrical equipment such as digital cameras.

The OFT has launched a targeted advertising campaign designed to reach out especially to young consumers and those about to make major purchases.

John Vickers, OFT Chairman, said: "We want to encourage active and aware consumers. When consumers are in the driving seat, businesses will compete harder for their money. This will give consumers a better deal, benefit businesses that serve consumers well and make the economy more competitive."

He added: "Markets that work well - competitively and with fair trading practices - are the best protection for consumers and the key to a dynamic economy."

(gmcg)