Consumers in Cyprus can save up to €66.91, or almost 36%, on a basket of basic household goods simply by choosing cheaper alternatives within the same product category at the same supermarket, according to a survey by the Consumer Protection Service. For a household shopping weekly, the potential benefit is estimated at approximately €174 to €268 per month.
How the survey was conducted
The survey covered four major supermarkets and was based on on-site recording of actual retail prices by officers of the Service. It examined 60 basic products, selected to represent common categories of goods included in a household's weekly shopping. The aim was to assess whether choosing cheaper products in the same category can reduce total spending without changing the composition of the basic goods a household buys.
What the numbers show
According to the Service's announcement, the results revealed significant differences in the final cost of the basket even within the same supermarket. In the first supermarket, the cheapest selection of the 60 products cost €171.05, while the most expensive came to €232.55, a difference of €61.50 or 35.95%. In the second supermarket, the gap reached €65.60 or 33.23%, with the cheapest option costing €197.44 and the most expensive €263.04. The third supermarket recorded the largest potential saving, with the difference between the cheapest and most expensive selections reaching €66.91 or 35.66%. In the fourth supermarket, the difference was smaller, at €43.49 or 26.56%.
Overall, the findings show that consumers can reduce their total shopping spend by 26.56% to 35.95%, with savings per shop ranging from €43.49 to €66.91.
No need to buy less
The Service notes that reducing costs does not necessarily require buying smaller quantities or removing basic goods from the household basket. According to the survey, in several cases private label products or other more economical options in the same category can serve as reliable alternatives, helping to limit overall spending.
Advice to consumers
The Consumer Protection Service calls on the public to take time to research the market, compare prices and make use of the available options before shopping. It adds that it will continue to monitor developments in the market and inform consumers, with the aim of strengthening transparency and supporting informed purchasing decisions.
