Grocery prices are through the roof right now, and everyone is feeling the impact. Dirk Van de Put, CEO of Mondelez International, points out that shoppers haven’t increased their spending for 2½ years, clearly a reaction to uncertainty and rising prices. “They have no inclination to increase their spending,” Van de Put said, via the Wall Street Journal. “They’re unsure about what’s going to happen, when those tariff effects really are going to hit them.” While staple items are more expensive than ever, customers are using smart tactics to save money. Here are seven ways to fight rising prices this month.
Clipping Coupons
Many stores are offering paper coupons again for customers who can’t or won’t download the store’s app. For example, Kroger now has physical coupons of its digital deals available for shoppers to use in-store. “So, we’re really trying to appeal to a broader customer segment, not only people that are very digitally savvy, but also people who are not or not able to be,” Kroger Chairman and CEO Ron Sargent said in a recent earnings call.
Buy Private Label
Opting for a store’s private label vs name brand is a great way to save money, something Sargent noticed in Kroger’s middle-class customers. “They’re using coupons more. They’re making smaller, but more frequent trips and they’re buying more private-label products,” Sargent said.
Cheaper Protein
Some customers are opting for cheaper versions of their favorite proteins. The Wall Street Journal interviewed one budget-conscious customer who switched from salmon to shrimp in an effort to save money, and ground beef instead of steak. “I’m a miser right now when it comes to what I’m spending at supermarkets,” the shopper said. “You get creative with what you’re cooking.”
Try Different Markets
Opting for Japanese/Korean markets here in Los Angeles is a great way to save on staples, but even those stores aren’t immune to inflation and rising prices. “The only thing that’s inflation-proof is that darn Costco chicken,” nurse practitioner Christina Duong told WSJ. “Everything else, you name it, it’s gone up.” Speaking of Costco…
Shop the Warehouse Chains
Costco’s $5 rotisserie chicken and food court $1.50 hot dog combo is still one of the best ways to save money on that staple item, and on a treat meal. Sam’s Club has similar pricing on rotisserie chicken, and in both cases the fully-cooked chicken is cheaper than buying a raw one. Buying in bulk in the big warehouse stores can really save you a lot of money if you’re careful about sticking to your shopping list.
Get a Vacuum Sealer
Investing in a decent vacuum sealer can save you a lot of money. When you see a great deal on meat or seafood you know you won’t get through quickly, simply vacuum seal it and keep it in the freezer. This also works for fruit, vegetables, anything you want to stock up on.
Cook At Home
Cooking meals at home vs eating at a restaurant can save you a huge amount of money, and chances are what you’re making will be healthier anyway. “They continue to cook at home more often and shop the perimeter for fresh foods to help lower overall meal costs,” Brendan Foley, CEO of McCormick, said on a recent earrings call.