According to a recent survey, 85 percent of Americans buy in bulk. Why? The top three reasons were to save money (88 percent); to have a stock of products (57 percent); and fewer shopping trips (45 percent).
How much do Americans spend on weekly bulk buying? The range was $50 to $100 (37 percent); $101 to $200 (27 percent); and less than $49 (25 percent) The most popular items bought in bulk? Toilet paper (95 percent); laundry detergent (72 percent); soap (50 percent); toothpaste (47 percent); and shampoo / conditioner (41 percent).
These are the same top five items from last year’s survey by TopCashback.com among 2,455 adults, aged 18 and over.
All are non-perishable goods that can have a longer shelf life, and Americans also report becoming less wasteful with bulk buying. Only 31 percent say that some of their bulk buys have gone unused, which is less than last year’s percentage (35 percent).
Do people say that they are better off financially by bulk buying as opposed to buying what they need, when they need it? The responses were 87 percent Yes, 13 percent No.
Bulk buying can help save people money on large quantities of their favorite items but be careful to not let it get wasteful.
Rebecca Gramuglia, shopping expert at TopCashback.com, suggests bulk buying can help save people money on large quantities of their favorite items, if careful to not get wasteful. She offers these tips: • Consider a wholesale club membership.
If you’re an avid bulk buyer, a wholesale club membership might be a great fit. You can have access to large quantities of popular brand name items, as well as generic goods.
These clubs also have discounts on normal items like household appliances, clothing and more. Typically a standard, annual membership can cost under $100.
• Make a list. Whether you are stocking up on groceries or bulk buying, don’t forget to make a list. I can’t stress enough how important it is to plan your shopping a day ahead of time, and the savings it can have on your wallet. By planning ahead, you can jot down the items you need to buy to prevent spontaneous purchases when shopping. You can also search for the best sales and promotions. This will help you save money and time.
• Utilize coupons and apps. If you want to save more, download your local grocery store’s app for digital access to coupons, fliers and sales. If you’re going to shop online, use a cashback site like TopCashback.com to receive cash back on your groceries, or shop at wholesale clubs like BJs and Sam’s Club.
• Avoid perishable goods (to an extent).
Fresh fruits and veggies are always the first items that start to go bad. But if you’re making lunches for your kids for the week or throwing a party, bulk fruits and veggies are a great way to save money. Otherwise, only buy the perishable items you need.
• Don’t bulk buy an item you haven’t tried.
Don’t waste your time and money bulk buying an item unless you know it works for you. If you’re curious about a product, test it out by purchasing a single unit, and if it meets your expectations then purchase it in bulk.
• Do the math. When buying in bulk, never assume you are getting a better deal without doing the math. Analyze the cost per unit and see if it is worth buying the larger option. For example, loose avocados are usually cheaper than purchasing a grouped bag. Also, be wary of 10-for-$10 deals. Most people don’t realize you can buy less than 10 items and still receive a discount.
• Shop generic, not brand. Pay less by purchasing generic options rather than name-brand products. More often than not, the difference is just the price tag and generic products are just as tasty or reliable as notable, name brands. If you’re still skeptical, check the ingredients or materials before purchasing a generic brand to be reassured you’re getting the same product.
• Make sure you have the storage space before you buy. If you can’t fit your food in the fridge or freezer, then where is it going to go? Probably in the garbage.