January sales disguise rising prices, PriceSpy analysis finds

A sign saying 'SALE' in a shop window

January sales are a longstanding feature in the retail calendar, as retailers offload excess stock from the previous year - and attempt to increase traditionally low footfall - and post-Christmas shoppers look to snap up great offers.

Homeware and clothing lead January sales

According to analysis from price comparison service, PriceSpy, over a quarter (28%) of products are cheaper now compared to a month ago* - with an average discount of 26%. January sales are most widespread on:

• Beds and mattresses (43% of all products are on offer, with an average discount of 23%)

• Home textiles (42% of all products are on offer, with an average discount of 17%)

• Clothing, such as t-shirts and tops (41% of all products, average discount: 28%), jeans (41% of all products, average discount: 26%) and shorts (40% of all products, average discount: 24%) 

Whilst brands that appear to be offering the most extensive promotions include Helly Hansen, Hisense, Fjällräven, AEG and Emporio Armani.

January ‘sales’ disguise annual price rises

However, PriceSpy analysis of over 60,000 products has found that almost one in every two (48%) products are more expensive this January than last** - and almost a third of products (32%) are more than 10% more expensive than they were a year ago. Products that appear to be most impacted by annual price rises include:

• Sunglasses (68% of all products) 

• Guitars (66% of all products) 

• Vitamins and minerals (65% of all products) 

Brands that have ramped up their prices across the largest range of products include Elemis, Osprey, Fjällräven, Rab and Paco Rabanne.

Liisa Matinvesi-Bassett, UK country manager at PriceSpy comments: “Though inflation is said to be falling, we’re still seeing significant price jumps across a wide range of consumer items compared to a year ago. Falling prices of manufacturing, logistics and raw materials for many items and brands clearly aren’t yet making their way to consumers.

Therefore, whilst they won’t necessarily bring items down to their cheapest ever price, January sales can be essential for those that have been waiting to make important purchases.”

How to identify the right time to buy

Seasonality, as well as supply and demand, can both have a significant impact on product pricing. But at the same time, with prices changing constantly throughout days, weeks and months, there’s often no real predictable logic around pricing trends and timings. Looking back at previous years, however, can sometimes be a good indication. In 2023, January was the best month of the year to buy:

• Headphones

• Vacuum cleaners

• Pressure washers

And in 2023, January was the worst month of the year to buy lawn mowers and football boots.

Liisa Matinvesi-Bassett concludes: “PriceSpy has a useful feature that allows shoppers to see an item’s price history to get an idea of when it’s been cheapest in the past, and at what price. It’s highly likely that a product will drop to that price again, so this feature can be a helpful indicator to guide future purchases.”

-ends-

Notes to editors

-*Based on analysis of over 100,000 products on 5th January 2024 vs 5th December 2023

-**Based on analysis of over 60,000 products on 5th January 2024 vs 5th January 2023