Prices seem to be rising across the board, affecting not only major purchases but also the smaller, everyday items that can quickly add up and strain your budget. Many common products and services now come with a price tag that feels far too high for what they offer. This article highlights a list of items that have become surprisingly expensive, often costing much more than they seem worth.
University Education
The cost of tuition fees in most of the UK can lead to permanent debt for a person. Tuition costs are much cheaper or even free in other countries, including Scotland, so if you have Scottish citizenship, make use of it.
Bottled Water
The water industry is huge, which comes as a shock, considering tap water is free. This is supported by Statistica, which reports that, despite the UK’s perfectly clean tap water, it has a staggering bottled water industry worth £1.6 billion.
Video Games for Consoles
This is another product that can have a high price point because once you buy the console, you’re locked into that brand—and purchasing games from the same brand. It shows the power that platform-specific brands have over us.
Beats by Dre Headphones
With these headphones, you’re paying a high price for the brand, but that doesn’t necessarily mean that you’re getting a high-quality product. You’ll find comparable sound quality from other brands at much lower prices. With Beats by Dre, you’re just paying for a premium brand image.
Diamonds
The marketing invention for diamonds drove demand, and this caused prices to skyrocket. There has been a significant markup on diamonds, which is mainly due to the branding and who you purchase the diamond from. Also, the tradition of having an engagement ring has helped to bump up the price.
Excess Baggage Fees
Excess baggage fees are considerably disproportionate compared to the actual transportation costs of airlines. It shows the strategies that airlines use to ensure they have some form of additional revenue. Travel + Leisure says that such fees “can cost anywhere from £20 to £125 per bag.” There’s no correlation with passenger weight, and it is only used when baggage exceeds a certain weight.
Funerals
Funerals are known for having considerable markups on services and goods. Some may even go as far as saying that funeral directors play on the emotional vulnerability of consumers, and it’s something that’s always been exploited. The high costs of a funeral can make it an even more stressful time after the loss of a loved one.
Mattresses
You’ll find that mattresses have a high markup, even though it doesn’t cost much to produce one. This is because the industry is dominated by only a few companies, so they can increase their prices. It’s also difficult to try and do a price comparison due to the pricing strategies of companies.
Glasses
People have to pay a lot of money to be able to see properly. Opticians and online retailers significantly increase prices way more than what it actually costs to produce a pair of glasses. Also, the worse your vision is, the more you have to pay for extras.
Sushi
Sushi has become so expensive, with many chains and independent restaurants increasing their prices above the rate of inflation. The pricing of sushi is often not reflective of the cost of ingredients needed to make sushi rolls. Even specialty rolls have been priced much higher than they should be.
Apple Products
There are many reasons why Apple devices are priced higher than average devices, and it’s not just down to the brand name. For example, Make Use Of writes, “Factors like Apple’s exclusive ecosystem, privacy policy, marketing costs, and high resale value also contribute to a product’s high price.” However, it’s still much cheaper to purchase from other brands.
Cinema Snacks
According to Stanford Business, “By charging high prices on concessions, exhibition houses are able to keep ticket prices lower, which allows more people to enjoy the silver-screen experience.” These high prices are essential for cinemas to keep in business, and you should keep in mind that you’re also paying for the convenience.
Greeting Cards
Many greeting cards are incredibly overpriced. You wouldn’t think paper products would be put at such a high price point, but economies of scale don’t seem to apply when it comes to this product. Sometimes, it’s cheaper to make your own, and they’ll be more personalized.
Printer Cartridges
Printer brands can charge more for their cartridges because once you’ve bought a brand of printer, you can’t change which brand you use for your ink. It allows them to put their price point exceptionally high because you have no choice but to purchase that brand’s cartridge.
Wedding Dresses
The emotional value that’s connected to wedding dresses can significantly increase their price. Cost isn’t just reflected in the physical price of a wedding dress but also in its societal value. Wedding markets will always play on the importance of a wedding dress and its sentimentality.