Most Consumers Missing Out on Better Financial Deals: ESRI Study

Financial products play a crucial role in our daily lives, whether we’re investing in our future or simply managing our day-to-day expenses. However, a new study from the Economic and Social Research Institute (ESRI) reveals that many Irish consumers fail to shop around for the best deals on these financial products. RTE.ie reports that the study found that just 7% of consumers compared prices between different providers when purchasing financial products, with many relying on recommendations from family and friends instead. In this article, we explore the reasons behind this lack of price comparison, and the potential consequences for consumers who fail to shop around for financial products.


A report from the Economic and Social Research Institute (ESRI) reveals that most consumers are not shopping around for better financial deals, resulting in missed savings. The report also suggests that banking choices are a major factor in consumers missing out on potential savings. The ESRI study is supported by a survey showing that almost half of mortgage holders did not compare offers. However, a study conducted by the Department of Finance found benefits in switching, although bank experts gave mixed responses.


In conclusion, it’s clear that many people in Ireland are missing out on potentially better financial products due to a lack of shopping around. The ESRI has highlighted the importance of being informed and taking the time to compare options, especially in times of economic uncertainty. It’s crucial to prioritize your financial well-being and make informed decisions for your future. So, don’t be complacent and start shopping around for the best financial products that will meet your needs and help you achieve your goals. Remember, a little effort now could go a long way in securing your financial future.