Lots people across the UK are very naïve about their postcodes. They might be able to indicate their codes without a problem but have no idea even the petrol they are buying for their vehicles is determined by where they live. Lots of businesses today are using the postcode to find the best candidates for their higher-end merchandise, while others are looking for markets for their affordable goods through the same.
Determining What You Pay
In short, virtually anybody with an interest in your money is looking for all the information the postcode gives about you to find where you live. In turn, they will aim at marketing in your region to sell the products they are convinced you can afford and need, such as insurance for your car courtesy of the low crime area you are living in. You past claims, burglary history, and natural catastrophes such as floods among others all play a major role in indicating the amount of money you will be paying for a certain cover.
What You Are Able To Spend Important
However, beyond insurance, retail goods and their prices are also determined by where you live and exactly what you might be able to spend. Your postcode is priceless in holidays when people are expected to purchase as much as possible, such as Christmas. In fact, the shelf price of most high street chains is varied for certain goods many buy on Christmas almost by 80 percent with the location of the chain store a huge contributor. While some cases seem accidental, many are deliberate and shoppers are left to grapple with pricing lottery on lots of things such as knitwear, perfume, DVDs, books to toys.
Customer Treatment Disparity
Many consumer groups would like the national chains to start treating their customers equally and not discriminating as per the place they live. This has not been entirely ignored by shoppers who would like to save as much as possible while at the same time buying as many items as possible for their families.
Enter Internet Shoppers
Consumers have moved to the internet where some are usually expected to spend over a million pounds each minute especially in the afternoon. Lots of people are switching over to the internet not just to make a quick save but due to the changes in weather that usually make it hard for them to access the high street and the onerous task is left to delivery companies and Royal Mail to ensure the goods have reached businesses and homes safely.
Postcode Lottery Should Not Affect Anyone
Lots of people believe there should be no significant distinction in prices between the regions and users should never be under the spell of a postcode lottery. This is the reason shoppers are highly encouraged to carry out their own research while at the same time putting retailers to task to explain the huge difference in the cost. Most chains however do not use the postcode to raise the cost of their products by matching and checking both local and nation competitors towards ensuring the prices remain as competitive as possible. Price differences are very possible and the important thing is crosschecking across the different retailers to at least have a glimpse of the price and the level of distinction.
Michael is a travel blogger who lives in London and like to travel new places around the world. He occasionally uses postcode finder UK to get information on certain post codes and area information that he is not aware of.
Category: Family Finances