Online price comparison: Reduce operating costs with the Internet

Trades 4.0: The operating costs of tradespeople have risen significantly in recent months. At the same time, the coronavirus pandemic has caused revenue losses in many industries. A quick solution for reducing operating costs: online price comparison portals. But what's the best savings strategy?

This article is part of the special topic Digital Crafts

The year 2021 brought noticeable cost increases for craft businesses in many areas: In addition to the newly introduced CO2 control on petrol, diesel, heating oil and gas, the current Inflation rate of 2,5 percent for higher expenses. In addition, there are many other costs, for example for Hygiene measures to protect employees and customers. The Internet can help you find savings potential: Here you will find Price comparison sites, which tradespeople can use to reduce their operating costs in many areas. The savings range from insurance and electricity, heating oil, gas, and gasoline to DSL and cell phone contracts. But technology products, cars, and newspaper and magazine subscriptions also attract significant discounts.

Quote "If you are looking for a specific product, for example tools, IT or technology, you should first check a general price comparison site for the best deals. Popular places to start are, for example, idealo or cheaper.de."

Save on electricity and gas

The Savings potential is often considerable: Simply by changing your electricity or gas provider, save an average of several hundred euros per year. In addition, many providers attract companies willing to switch with an instant or new customer bonus, which can sometimes amount to several hundred euros. This saves businesses a great deal of money in the first twelve months. However, prices rise significantly from the second year onwards, when the bonus is no longer applicable. Therefore, it can make sense to change provider every year: This is the only way to ensure the maximum discountIf there is also a price guarantee for the duration of the contract, you are optimally protected against unexpected price increases.

Check DSL and mobile phone contracts

Even with DSL and mobile communications, it is worthwhile to regular price comparison: Because if companies use the same contracts for years, the tariffs become slow and expensive over time – simply because the Market prices regularly fall or include better inclusive services. From DSL and mobile phone providers These advantages are not automatically passed on to existing customers, long-term contracts are usually unattractive. Home office regulations and usage habits in the areas of DSL and mobile communications for many companies. By changing the provider, sometimes save several hundred euros per year.

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Compare cleverly: Insurance

The Insurance sector: Price comparison sites for Legal protection, motor vehicle, liability, residential building, commercial or health insurance demonstrate large differences in costsHowever, you should pay close attention to the scope of coverage and – especially with very affordable offers – any restrictions. It's also worth selecting or deselecting various options for the coverage – depending on your needs. Since the insurance section isn't always immediately understandable, the price comparison site should offer a hotline or at least an email address for questions.

Product search with price alert

If you are looking for a specific product, for example Tools, IT or technology, should be a general price comparison site for the best deals. Popular sites include Idealo and billiger.de: Here you can search in a wide variety of categories or search directly by manufacturer and product name. Results page shows the providers with the cheapest prices including shipping costs and payment optionsSome portals also allow you to set up a price alarm: You'll then receive an email notification when the product you're looking for falls to or below your desired price.

Savings strategy with caution

The best savings strategy for all areas: It is always worthwhile to compare prices and services on several portalsNot all providers are listed on all comparison sites, and some portals offer special conditions. It is important to keep in mind that the comparison sites are not independent: They usually finance their service through Commissions and brokerage fees. Therefore, in some cases, it is not the cheapest providers that are at the top, but rather those with the most attractive commission payments – often marked with notes such as "recommendation," "expert tip," "popular tariff," or "advertisement."

Checklist: Use price comparison sites correctly! 

• Avoid sites that ask for personal information before you see the results of your desired price comparison.
• Compare not only prices, but also included or restricted services.
• Always use the results from at least two portals to compare prices.
• One criterion for assessing credibility: the opinions of other customers. If there are many negative reviews, you should be cautious and choose a different offer.
• When concluding online contracts, ensure secure and encrypted data transmission. You can identify this by the letters "https" or a lock symbol in the browser's address bar.
• Find out about sellers or contractual partners in advance, for example with the help of review profiles, quality seals or your own internet research for “seller name experiences” or “seller name problem”.
• Check all important facts, such as imprint, item availability and location, shipping and return policies, and terms and conditions.

Important: The cheapest provider isn't always the best. Avoid contracts requiring advance payment, multi-year commitments, or unsafe payment methods. Payments by invoice, direct debit, or PayPal are comparatively secure.

Photo: © Thomas Busch