CommSec chief economist Craig James warns Australians should shop overseas for technology products and gadgets in order to make the most of the high Australian dollar.
As reported in The Age, James said consumers would do better to search internationally for products as many local retailers may be slow to lower their prices.
James pointed out that in Australian dollar terms, Australians could save up to $20 by purchasing iPods on websites in the US and Hong Kong.
“The strength of the exchange rate does mean now that you are perhaps getting a better deal by buying [goods] directly from US stores and paying the freight component,” James said.
“If you wait around for the Australian retailers to change you may be waiting for some time and if you’re after a particular good now and you’re getting a good deal from a reputable site overseas then that may be the way to go.”
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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