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Some things get more expensive Corona is shaking up prices
Düsseldorf (dpa) - Home office instead of the office, online shopping instead of shopping, video chat with friends instead of going to the pub: the Corona crisis has turned many habits in Germany on their heads. When it comes to retail prices, too, new rules suddenly apply, as several market surveys show. Consumers should be prepared for this.
"Corona is also turning the world upside down when it comes to prices," observes trade expert Eva Stüber from the Cologne Institute for Trade Research (IFH). For many products such as laptops or bicycles, the decisive factor for the price development is suddenly less competition than the availability of goods. "Old rules - such as the fact that the prices of new electronic devices slide after a few months - suddenly no longer apply," she says.
Their assessment is supported by two market studies that were recently published. A study by the consumer portal Testberichte.de, which evaluated the price development in more than 1000 product categories for the period from May 2019 to February 2021, showed that the corona crisis led to sharp price increases for a whole range of products. The price of webcams, for example, has almost doubled since May 2020. First of all, there was a noticeable shortage of supply due to the initial lockdown in China - and then the growing demand due to the home office boom in Germany and logistics problems.
Price increases in the course of the pandemic
According to the Testberichte.de study, the golden rule that the prices of televisions, laptops or printers slide a few months after their market launch was not only overridden in the Corona year 2020. Those who waited to buy in order to save money could even experience a nasty surprise. The prices for PCs have risen by 79 percent, those for printers by 19 percent, observed the consumer portal.
According to the study, the changed living conditions in the pandemic - such as more frequent home-cooking or the closure of fitness studios - were also noticeable in other product categories. According to the study, kitchen appliances increased in price by 25.4 percent, dishwashers by a good 20 percent and cross trainers by around 18 percent. Medical thermometers and hair clippers also became significantly more expensive in the pandemic.
A study by the consumer forum mydealz was very similar, for which the prices of 550 randomly selected products were compared. More than half of them became more expensive between February 15, 2020 and February 15, 2021. "The corona pandemic has thrown the markets off balance," says company founder Fabian Spielberger. Not only televisions and printers have become more expensive, but also cutlery, dishes and glasses as well as films and video games. This is probably due to the fact that many consumers have spent more time at home.
Corona chain reaction
Corona has triggered a kind of chain reaction, says Spielberger. Production restrictions, logistics problems, bottlenecks in chip production and a sudden surge in demand for everything to do with home office, among other things, have led to previously unknown price increases. "In some cases, goods were sold at prices above the recommended retail price."
For the retail expert Stüber it is clear: “The strategy of standing out from the competition primarily through price has been undermined to some extent by the pandemic. At the moment, the winner is the one who has the supply chain under control and can actually deliver - even at full price. " This is particularly evident in the electronics market, where otherwise the short product cycles would lead to a rapid drop in prices.
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