When our kids were younger and still living at home, our pantry was stocked with no-name products. Buying generic has long been a supermarket savings hack in the Koch family.
I assumed everyone else’s cupboards and fridge looked much the same …
But it turns out more than half of Australians are missing out on this simple supermarket savings trick, according to research by Compare the Market.
And it could seriously slash their weekly supermarket bill.
Swap and save
With the rising cost of living and broader economic pressures, we are starting to see a shift in consumer behaviour, to an extent.
A national Compare the Market survey found 45 per cent of Aussies have switched to cheaper brands to manage financial stress, yet many are still leaving potential savings on the checkout counter.
Australians were most willing to switch to generic brands for medications, cleaning products and pantry staples.
Compare the Market also examined the top 10 products Aussies were most willing to swap and found shoppers could cut up to $41 off their trolley by choosing cheaper alternatives – a saving of around 60 per cent on the shop.
It all adds up
Small savings of a few dollars on each product can add up to hundreds over the year. It’s worth giving the home brands a try. Often, they provide similar quality without the fancy logo and higher price tag.
By using this little hack each week, it could amount to an annual saving of $2,132. That’s enough for a return airfare to London.
Remember, the big brands pay a premium to be at ‘eye level’ in the aisles – the cheaper alternatives are often placed lower or higher on the shelf.
And if you prefer the taste of the well-known brands, switching on the items you’re not too fussy about can still help you claw back some cash.
Other ways to save at the supermarket
This supermarket savings trick is one of the oldest in the book, but there are others worth trying, including::
- Plan your shop and stick to a list – Reduce impulse buys by planning meals for the week and shopping with a list. Only buy what you need.
- Use loyalty programs and coupons – Programs like Flybuys or Everyday Rewards offer points and discounts. Look for digital coupons or member deals for extra savings.
- Buy in bulk where practical – Items like pasta, rice, toilet paper, and cleaning products are often cheaper per unit in larger packs. Make sure you’ll use them before they expire.
- Shop seasonal – Seasonal fruits and vegetables are cheaper and fresher.
- Compare unit prices – Check the price per 100g, per kilogram, per 100mL or per litre (and per item where relevant). You can also sort online supermarket results by “unit price”. This helps you see the true cost, regardless of packaging or marketing.
Feeding the family on a budget
At a time when every dollar counts, supermarket savings are one of the easiest wins in the household budget.
You don’t need to spend more time trying to save money than you can earn, but remembering to chose generic where possible and making some savvy shopping habits routine, will save you at the checkout.
And when those savings start adding up, you’ll be glad you made a few simple but smart changes to how you shop and feed your family.
