What If Your Groceries Doubled in Price?
Written by
J. Arky
Edited by
Cory Dudak
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There is no easy way around the fact that everything is getting more expensive these days, especially groceries. With the global economy fluctuating up and down and no ease in sight, consumers are left to foot the bill, which has often become twice as much money for them, if not more.
If you are seeing your groceries prices double, here are some tips from experts on what to do.
Purchase Generic Brands
“One of the shopping mistakes many make that ends up doubling their grocery bills is they ignore generic brands and opt for name brands instead,” highlighted Aaron Razon, a personal finance expert at Couponsnake. It was noted that this is usually because generic brands are deemed to be inferior in quality, which is why they have lower prices.
“However, many generic and store-brand products often offer similar quality, but at a lower price point, and this makes them a cost-effective alternative that can significantly slash your grocery bills without compromising taste or nutrition,” Razon shared.
By considering generic or store brand products, Razon pointed out how the average consumer would be able to make their grocery shopping more budget-friendly, and have a couple of extra dollars to allocate toward other essential items.
Skip Splurges
Look at your weekly grocery haul and see what “splurges” you can cut back on. Instead, focus only on what you need, said Laurie Sepulveda, a personal finance expert at MarketWatch Guides.
Sepulveda cited data in a new MarketWatch Guides survey that found 43% of Americans are avoiding splurging on treats and prestige-priced goods, making this the most popular strategy.
“Fancy prepared foods can eat away a big chunk of your grocery budget,” Sepulveda described. “Many times, you can recreate splurges at home for a lot less.”
Avoid Processed And Pre-Prepared Foods
According to Razon, another thing consumers can do if they find that their grocery bill doubling is to avoid processed and pre-prepared foods because they are more expensive than whole ingredients. In fact, by choosing whole foods like vegetables, fruits and grains, consumers would be saving money and benefitting from the superior nutritional value these foods provide.
Shop Around
This might add some extra stops and the hassle of going multiple places to get your full grocery list, but Chris Motola, the National Business Capital Special Projects Editor and Financial Analyst, explained it could help lower your bill.
“Supermarkets and many other types of businesses will have a loss leader at any given time,” Motola went on to say. “That is, a product that’s being sold cheaper than cost. The idea here is that the product attracts customers to the store who will then also spend money on more profitable products. Strategically buying loss leaders and limiting spending on other products during your shopping run can help keep your grocery bill down.”
Motola suggested consumers should be willing to shop at multiple stores. “Different stores will have different sales and loss leaders at any given time,” it was noted. “It takes some planning and a little more time, but if you live in an area with a healthy amount of supermarket competition, you can save money by strategically buying items on sale at each,” added Motola.
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