Mondays is the cheapest day for online shopping, report finds

Thursday, July 21, 2016 - 13:20 by Graham Miller

A new study has found that consumers who shop online on a Monday could save almost a fifth on certain products compared to those who make purchases on other days of the week, according to the Daily Mail.

The Idealo report indicated that the highest prices were likely to be encountered over the weekend, while earlier in the week there are opportunities to make savings on everything, from video games and consoles to sunglasses and trampolines.

One of the main reasons for this is that many e-commerce sites use algorithms to automatically adjust prices depending on the amount of demand there is for a particular product. So during peak periods of shopping activity on Friday, Saturday and Sunday, the cost of many items climbs automatically.

The price difference varies depending on the type of product that is on offer, with family-oriented board games being most likely to see a major swing in prices over the course of a week. Meanwhile, lawnmowers are at the other end of the spectrum, with prices just 2.3 per cent higher on a Saturday.

Report spokesperson, Katy Phillips, said that many consumers were completely unaware of the fact that prices for products available via safe shopping online were likely to fluctuate so significantly within relatively short periods of time. And the argument is that simply by making Monday the main focus of e-commerce activities, some consumers could save hundreds of pounds a year.

Analysts also said that the weather can impact prices, meaning that periods of inclement conditions can help drive down the cost of products relating to outdoor activities. With the UK’s fluctuating climate, this encourages consumers to be even more tactical when it comes to spending their money on the internet.