Christmas hampers can make wonderful Christmas gifts, particularly if you’re in a rush, or buying for hard-to-buy-for family and friends who have everything.
However, the convenience of these pre-packaged gifts may be costing you a pretty penny, particularly if you’re buying hampers from some of the major department stores or high-end online hamper providers.
New research from financial comparison site Mozo, found that shoppers could be paying up to 96 per cent more than the value of the actual goods in Christmas hampers.
The worst culprit was online hamper company Gourmet Basket. Mozo found that the total value of the goods in their $179 hamper (which was reduced at checkout by 20 per cent to $160.00, with an advertised discount) was $91.34.
David Jones came in with the second highest marked up Christmas Hamper (93 per cent), with an advertised price of $160.00 for contents valued at $82.82. This was followed shortly by Myer’s $200.00 Christmas Hamper, marked up by 89 per cent.
Chrisco’s Christmas Hamper priced at $434.20, which is only available online, offered the best value of the five hampers compared by Mozo, adding only an extra 14 per cent of the total value of included products.
“While a beautifully assembled Christmas hamper can make for a wonderful and time-saving gift for family or friends, think twice about the price you’re paying for the convenience of a preassembled hamper,” said Kirsty Lamont, Mozo Director.
“Three out of the five Christmas hampers price checked charged nearly double the value of the contents inside.”
Of course, hampers typically come in baskets or boxes, and pre-wrapped in cellophane or other packaging – and that’s part of what the inflated costs cover.
Lamont notes that it’s possible to make your own hamper, and save costs.
“A beautiful basket can cost as little as $10, add some cellophane and ribbon and your construction costs won’t amount to more than $20. Apart from cost saving, the great thing about making your own hamper is you can add personal touches for the recipient,” she said.
“To avoid being hit with overpriced Christmas presents, do your research this festive season and start shopping early. Shoppers often spend more money when they panic purchase on the days before Christmas. It’s still possible to get a great present for loved ones, without it costing the earth.”
Important information: The information provided on this website is of a general nature and for information purposes only. It does not take into account your objectives, financial situation or needs. It is not financial product advice and must not be relied upon as such. Before making any financial decision you should determine whether the information is appropriate in terms of your particular circumstances and seek advice from an independent licensed financial services professional.