The One Grocery Aisle Mistake That Makes You Overpay Without Realizing
Value size. Snack size. Family size. Fun size.
"I have no idea what size this thing I’m buying is."
In an economy defined by food inflation, trips to the grocery store have become more expensive — and confusing. As the cost of food increased, supermarkets developed clever strategies for concealing those increases while still charging more.
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This article will explain an easy, effective way to avoid overpaying for groceries in an era when every penny counts.
Deceptive Packaging Draws Fewer Complaints Than Higher Prices
When food costs skyrocketed in the post-pandemic era, many manufacturers and retailers simply raised prices to keep up. However, others passed the increase on to consumers clandestinely through clever adjustments to their product packaging designed to conceal the fact that shoppers were paying more for less.
The U.S. Government Accountability Office recently outlined the concept of “shrinkflation” — packaging that looks nearly identical to that of the old product, but that contains less, yet costs the same or even a little more.
At a glance, that bag of chips, pint of ice cream or bottle of shampoo looks like it always has — and likewise for its price tag — but it’s underfilled, so you’re paying more without realizing it. It’s a trap into which even the most conscientious shoppers can stumble.
The good news is that there’s an easy way to avoid it.
Do What Businesses Do — Focus on Unit Cost
The National Institute of Standards and Technology (NIST) released a video aimed at helping retailers give their customers a better shopping experience, but it’s just as useful to consumers.
Since a lower price does not always correspond to greater value, the tutorial urged grocers to include unit pricing on their labels.
Unit pricing shows how much something costs per unit — per ounce, per pound, per serving and more. In an era where a tin of Pringles can contain as much air as saddle-shaped chips, shopping by unit price is the surest way to assess a product’s true value.
The NIST cited data showing that 74% of shoppers use unit pricing when it’s available. However, that means that more than 1 in 4 do not.
No Unit Price? No Problem.
Many grocery stores include unit pricing on many products, but not all. A Ph.D. nutrition specialist and dietician from North Dakota State University outlined the steps for determining a product’s unit price if they don’t spell it out for you on the label — and you don’t need a doctoral degree to crunch the numbers before you accidentally crunch into overpriced cookies.
To determine the unit price, simply divide the item price by the item size.
Example:
A bottle of olive oil costs $15.99 (item price)
The bottle contains 12 ounces of olive oil (item size)
The unit price is $1.33 per ounce ($15.99/12 ounces)
Of Course, There’s an App for That
If you hate math so much that being broke is more appealing than doing basic arithmetic, you still don’t have an excuse not to come out of the supermarket ahead.
If unit pricing isn’t listed on a product’s label, let your phone do the heavy lifting so you can concentrate on remembering to buy reduced-sodium soy sauce instead of the hard stuff.
The following programs use your camera function to scan the label and quickly show what you’re paying per unit, so you can make the best choice to save the most cash.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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