Six strategies to save money at the supermarket
While supermarket prices mightn’t grab the headlines like surging household energy bills, they remain the second-biggest expense for most people, after housing costs.
The daily groceries can all mount up, costing roughly $100 per person per week. However, with a bit of smart thinking, big savings can still be made. Here are six supermarket spending strategies to help you bring those hefty bills down.
Buy in bulk – Whether buying groceries off a shelf or off a pallet, bigger packages will save you money. Keep a look out for specials on bulk buys of non-perishable items such as toilet paper and washing powder, and if you decide to chase specials at different shops make sure the cost of petrol to get there doesn’t outweigh any savings you’ll make.
Unit pricing is important – Supermarkets these days have to display the unit price for items, usually the price per 100ml, 100g or kilogram. This helps you compare prices more easily, and work out if buying that cheese on special is really a better deal than buying a larger packet.
Plan ahead – Whether it’s making a shopping list, which everyone should do, or preparing cheap meals in advance, you can save plenty. Switching from taking no notice of your supermarket spending to being proactive about preparation can halve your bill.
Try avoiding processed food and making your own meals using natural ingredients instead where you can. It’s both healthier and cheaper. And don’t shop when you’re hungry. Supermarket shopping with an appetite leaves you vulnerable to buying extras you probably don’t need.
Also, consider shopping less often. Studies show that the more often we shop, the more we spend on unplanned purchases.
Buyer beware – Marketers want you to spend more every visit, so keep an eye out for their tricks. Biscuits are placed near tea and coffee to entice you to buy both, and watch out for impulse buys near the checkout. Supermarkets generally put their most profitable items at eye level, and better value can often be found above or below them. Look up and down and not just straight ahead. Staples such as milk and butter are often at different ends of the shop compared to other essentials like bread, increasing the chances we'll fill our trolleys with non-essentials such as soft drinks and chips en route.
Know the best days and times to shop – The two days for the cheapest supermarket prices are Mondays and Thursdays. Stores often offer specials on basics such as toilet paper, nappies and laundry powder on Mondays to tempt shoppers into the store. A second round of specials happens each Thursday, with meat and fresh produce mark-downs often taking place on Friday. Perishable items such as meat, bread and yoghurts are more likely to be discounted towards the end of the shopping day, as supermarkets mark down stock to get it off their shelves.
Loyalty to loyalty cards – While supermarket loyalty cards keep you coming back, they don’t always represent cost-effective shopping and the rewards are often minimal. They shouldn't dictate where you shop, particularly when there could be cheaper alternatives available. It's similar to petrol discount vouchers – sometimes they’re a false economy. Are you really saving money if you drive miles out of your way to save a few cents per litre?