Yahoo Finance How to save on groceries as prices skyrocket by $2,000
Grocery prices have surged, with the average household spending $1,924 more every year.
Aussie households are paying thousands of dollars more for groceries each year, according to new research by Finder.
The average Aussie household spent $185 on their weekly grocery spend in February 2023 – up $37 a week compared to last February, according to Finder’s Consumer Sentiment Tracker.
That’s a massive $1,924 increase per household over 12 months – or $18.8 billion more nationwide.
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The research found one-third of Australians (33 per cent) were at the shops every few days, while more than half (53 per cent) shopped once a week.
Almost one in 10 shopped once a fortnight, while just 1 per cent could stretch supplies all month. The research found 2 per cent of Australians purchased groceries daily.
Finder money expert Sarah Megginson said the cost-of-living crisis was putting a lot of pressure on food budgets.
“Households are facing some very tough times, and escalating grocery costs are an extra burden,” Megginson said.
“Aussies are having to change how and where they shop, just to keep food on the table.”
Where are Aussies shopping?
Grocery-bill stress reached a record high in March, with 43 per cent of Australians ranking groceries as one of their top three most stressful expenses – the highest level since Finder’s Consumer sentiment Tracker started in April 2019.
Nearly half (48 per cent) of those surveyed shop primarily at Woolworths, while Coles was in second place (39 per cent).
One in 10 consumers (10 per cent) got their household essentials primarily from Aldi, while 2 per cent visited their local IGA.
Simple tips to save on groceries
Megginson said there were some simple ways Aussies could bring their grocery spend down.
“Stick to a shopping list so you aren’t wasting money on unplanned purchases. If you can, go shopping later at night, an hour or two before the supermarket closes, when meat and poultry is discounted by up to 80 per cent,” Megginson said.
“Stock up on staples when they’re on sale and compare prices of big-ticket items like washing detergent and pet food online.
“Now is also a great time to sign up to supermarket rewards programs. If you’re buying groceries anyway, you might as well earn points on your spend. You can then use these points to get cashback off your shop or convert them into frequent flyer points.”
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