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Transcript: Shopping by phone

Anchor Intro: The new breed of phones, like Apple's iPhone or the Google phone may be both expensive and complicated, but they can also save you money by making you a better comparison shopper. Bankrate.com takes the Google phone to the store to test the newest technology that is nothing short of amazing.

Voice over 1: There was a time not long ago when shopping meant driving to the store and physically looking at things. A hassle, but at least you can see what you're buying.

Voice over 2: Then came the Internet. You can't actually touch the item, but what you can do is compare prices in stores both real and virtual all over the world in search of the best deal.

Voice over 3: Wouldn't it be nice to able to do both at once? Find an item in a store, then instantly price shop it?

Voice over 4: Well, if you own one of the new Google phones, now you can. Because it has a service called Savvy Shopper.

Voice over 5: Here's what it does. You pick up any item in the store, look for the bar code and scan it. In seconds you get a list of prices for the same item both online and in other local stores.

Voice over 6: For example, here's a book. The price at the store is $22.95. But scan the bar code and you see that it's available online used for as little as a penny.

Voice over 7: The technology is still new: The database isn't complete, so you don't find many items. And it's perfectly capable of making mistakes. For example, it thinks this bottle of Margarita mix is actually a wireless router.

Standup: Still, this is a glimpse into the future of shopping -- one more tool in the arsenal of the bargain hunter. But no matter how much technology shrinks the planet, don't ever forget your local stores: They employ your neighbors, pay taxes and participate in your community. For Bankrate.com, I'm Kristin Arnold.

Bankrate.com's corrections policy
-- Posted: Dec. 12, 2008
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