Australians in the market for fridges, washing machines or even their next TV are finally enjoying some inflation relief this year as goods prices normalise following the pandemic.

But with cheaper prices come more customers, and retailers are scrapping to make the most of every dollar amid slowing economic growth in 2024.

So you’ll want to be savvy and ensure you don’t overpay.

Here are some quick tips.

Set a budget then get shopping

It’s all too easy to be drawn in by a sparkling three-door fridge with a built-in television screen, especially when the retailer has slapped a 30 per cent discount on a $10,000 product.

But you might be just as happy using your tablet or laptop for a kitchen TV, so going in with a set budget is key to avoid overspending on something you don’t actually need.

Once you’ve worked out how much you’re willing to spend, it’s time to shop around – major appliances are often the largest purchases households make, so it’s worth putting in the time.

First, get an idea of what the largest retail chains are charging in your price range for the appliance you need, and then pinpoint the brands and features you’d like.

Then, and this is crucial, attempt to undercut that price by searching the name of the product directly online.

That way you can bypass the messy marketing plastered over retail websites and get straight to where the best deals are.

• Spotted an appliance you like? Search the product on YouTube for videos of others using it – this could change your mind or confirm your hopes; either way you’re better informed
• Don’t forget the power bill. How much electricity a product uses factors into what it costs you over the long run, so try to prioritise energy efficiency when researching a product
• Avoid the extended warranty; research has shown these things don’t offer value, and you are already covered by Australian Consumer Law if it doesn’t work.

Make your dollars go further

Major appliances can be huge drains on household budgets, so it’s important to not only avoid paying for things you don’t need, but also to make sure your spending goes as far as it can.

The best way to do this is to be aware of the retail calendar and plan big purchases around it.

Major appliances are usually cheapest around end of financial year (EOFY), or even during discounting holidays later in the year if you’re looking for entertainment products like a TV.

If you can wait, it really is worth it, because prices plunge by several hundred dollars as retailers compete with each other for consumer dollars.

If you find yourself looking at a steep discount but without the money to spare, many retailers offer payment plans too.

Be careful though, these are often credit products and unless you carefully consider the terms you could wind up paying interest, wiping out any benefits from the discount.

• Price match: Some retailers offer to beat other prices – even 5 per cent off can be worth hundreds, so make sure to ask
• Is delivery free? Big appliances can come with hefty fees for installation, so consider if a retailer offering free services might be better, even if the sticker price is higher
• Earn points? Major purchases you need to make can be a good reason to get a points credit card for extra rewards – see here for an explainer on these financial products
• Consider buying second-hand goods, or even a lease: If you plan to move soon or aren’t looking for a new product, you can save by looking for a pre-loved appliance, or even explore renting what you need.