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We’re all feeling the squeeze of the current economic outlook with inflation driving up consumer costs at an 8.3% inrease in the past year, according to the US Bureau of Labor Statistics.
And food prices are no exception with a 10.8% increase over the past 12 months.
The Harris Poll, in partnership with Alpha Foods, recently found that 90% of Americans are worried about the rising cost of groceries.
As prices rise, how will you save money on necessities like food, household, beauty, self-care, and pet products? One option is to buy you truly need and use in bulk. About a third of us are already buying in bulk for convenience and saving money.
Buying in bulk isn’t just for minivan-driving families with walk-in pantries. Done right, buying in bulk can help reduce spending, even if you’re a household of one.
We’ve got the tips you need to score high-volume essentials while avoiding the potential pitfalls of buying in bulk.
The Benefits of Buying in Bulk
Despite the higher cost at the register, buying bulk products can help you save money when what you purchase is less expensive per unit than at regular retail stores. .
Let’s say a single apple costs 75 cents at the grocery store. A three-pound bag containing six apples costs $3. Purchasing the apples in bulk means you’d be paying 50 cents for each rather than 75 cents.
In addition to a lower cost per unit, there are other benefits of buying in bulk. Since you’re stocking up on more in one shopping trip, you don’t have to go out to the store as frequently. That means less gas spent driving to the store and fewer opportunities to give in to impulse purchases. You’ll also have more of your free time back.
There’s an additional environmental benefit if your bulk purchases involve less packaging. Also, having more in stock at home means you’re not in dire straits when an emergency hits — whether that’s a bad storm that prevents you from going to the store or a sickness …
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