You’ve seen it on websites and reviews, and it’s another bit of jargon that raises a red flag: what does “RRP” mean, and is it really how much something costs?
Across most news articles of products and reviews, you can usually expect something to be listed: RRP.
It’ll arrive as either “RRP” or “SRP”, but it always means the same thing: the price the product is expected to cost.
Translated as “Recommended Retail Price” or “Suggested Retail Price”, these phrases typically imply the cost of an item and its expected price, but don’t always mean it. Why not?
Why RRP isn’t always the price
Recommended retail price is literally what the name implies: a “recommended” price that the retailer is suggested to tack on. While it can be indicative of the price, it doesn’t always mean they will be one in the same.
In fact, while RRP may well be the amount you can expect to pay at a maximum, it also doesn’t always mean that.
Generally, you can count on the idea that department stores will charge the RRP, while electronics stores and specialists outlets (whether online or at retail) will charge below. Sometimes you might even find one or two that pushes beyond the suggested retail price.
How do I get the best price?
Regardless of what price you see at a retailer when looking for a product, it pays to shop around and make comparisons.
The reality of buying products in today’s world is that you have lots of choices to pick from, and that’s not just in products, but also in the places you buy those products from. That translates to more competition, and more competition means more choice on pricing.
If what you’re seeing at your favourite or local store is priced too high or is too close to the recommended retail price, consider shopping around and finding better, and then asking the store you want to buy from to match.