I decided to buy a 4 GB pen-drive recently and I was looking at options. I went to an electronics shop near my house and I asked the best price for a 4 GB pen-drive. I was fine with any brand, as long as I was familiar it. He showed be the SanDisk Cruzer Blade USB Flash drive and told me that the price for the same was Rs. 499/- (MRP) and he can give a maximum discount(!) of 25 rupees on the same.
I have developed one good habit of enquiring the price for any product I buy, in three places (at least) before I buy it. I then went to a mobile shop and I asked them for the best price for the same model. This guy told me that the best price will be the MRP (Rs.499/-). I was quite stunned at their attitude because I knew that electronic products rarely get sold at their MRP prices.
I then went to Reliance Digital to see the price for this product there. It was Rs. 259/-, inclusive of all taxes! I knew that I could get a better price on the Internet, but since I wanted to use it on that day, I went ahead and bought it.
I came home and checked the price for the same pen drive in flipkart. It was Rs. 212/-, inclusive of all taxes!! And flipkart gives free delivery for any product over Rs. 200/-. If I could have waited for 3-4 days, I would have probably bought it here.
Anyway, the point of the post is – How can there be such a huge disparity in prices at four shops for the same product? Look at the range of price difference – Rs. 212/- to Rs. 499/-.
The price difference is more than 100% !! I wonder how this is acceptable in any industry? Why will anyone buy at such inflated prices, especially when a product like a pen drive is so commonly available at many places? Even if someone buys at an inflated price (in local shops), will they ever go back to that shop after they eventually discover the price difference?
Secondly, I think I need to check for the best price for any product online, before I go and buy it in a nearby shop (if I need it urgently).
Is this price difference there in all type of products or only electronic products? Any experiences you had recently?
PS: In the photo, do you recognize what object is placed next to the pen-drive? 🙂