According to a study by moneysupermarket.com, consumers will collectively spend around £1 billion less on Christmas gifts this year with the average Christmas shopping fund slumping from £393 in 2007 to £376 this year.
Of course nobody wants to disappoint their family and friends on Christmas Day, which is why it's so vital to shop around for bargains and the best deals this festive season. Now, that needn't be a stressful task thanks to the launch of moneysupermarket shopping.
How can the shopping channel save you cash?
Moneysupermarket.com has already established itself as the UK's leading price comparison website comparing prices on financial products such as loans, credit cards and insurance, as well as utilities, broadband and mobiles. Now it is bringing this expertise to the world of consumer shopping.
Consumers can compare prices on hundreds of items ranging from cameras and DVDs to children's toys and games consoles. Christmas must-haves such as the Nintendo Wii and the MacBook Air are included and you can even compare prices on the ultimate in grand gesture gifts, a £2,000 plus Sony Bravia KDL 46X2000.
So instead of traipsing down the high street from shop to shop looking for bargains you can compare prices in one place from more than 500 retailers with our shopping comparison tool. A host of retailers have already signed up including Asda, Tesco, Currys, ToysRUs, Play.com, Amazon and many more.
Not only does this take away the hassle of going from store to store, it could also net you significant savings. For example, the cost of an Apple MA627 Ipod Shuffle varies by £106.08 - you'd pay £213.92 at ToysRUS, yet Grattan would charge you £320.00.
Grab yourself a Christmas bonus
In addition to comparing prices, visitors can access clear product specifications, read expert and user reviews, and get gift inspiration by searching for the most popular products within the different categories.
Top tips to save cash this Christmas
Of course our shopping channel is only one of the ways you can save cash this Christmas - here are some more top tips:
- Set a budget - know what you want to spend and don't go over the limit.
- Make a list - write down the names of all your family and loved ones, with a gift idea by each. You can cross through each name as you buy their gift ensuring you don't spend too much on one person, or inadvertently miss someone out.
- Research online - make sure you use online tools such as our shopping channel to research the prices of gifts even if you don't want to buy online. By comparing prices you can find out which retailer has the item you want in stock at the cheapest price.
- Take advantage of special offers - buy one get one free, and other money saving offers could offer significant savings.
- Buy in bulk - join with friends and family to buy food and drink collectively.
- Secret Santa - consider applying the Secret Santa gift idea in your family as well as in the workplace and set a limit on the amount that can be spent. That way everyone gets a gift without anyone overspending.
- Use a credit card to spread your payments - with a 0% purchase card you could have a whole year to pay off the balance of your Christmas spending without accruing interest. Currently the longest 0% purchase period is available with the Capital One Balance Transfer Exclusive, which offers 0% on purchases until November 01, 2009 with a typical rate of 15.9%. Credit cards also offer insurance against theft or damage thanks to section 75 of the Consumer Credit Act - this protection is not applicable to debit cards. Don't use a credit card to spend beyond your means though - stick to what you can comfortably afford and if you don't have a 0% deal ensure you can pay off the balance in full at the end of the month.
- Use a credit card to make money - If you are sure you can pay off the balance in full you could even use a credit card to earn cashback - the American Express Platinum Cashback Card for example, offers 5% cashback for the first three months.
- Shop online - Most retailers offer their cheapest prices online as they save money on overheads. Do be cautious however as online delivery dates can be lengthier than usual over the Christmas period so always check before you buy.
- Stagger your shopping - If you haven't already started your Christmas shopping then get stuck in. The sooner you buy the less stress you will feel and prices may be lower at this time of the year too.
Have your say: What do you think of moneysupermarket.com shopping? Visit our forum and let us know.
Disclaimer: Please note that any rates or deals mentioned in this article were available at the time of writing.
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