Buying in Bulk

Some statistics and some tips on a popular shopping trend.

According to a recent survey conducted by TopCashback.com, a cross-section of 2,455 adults, aged 18 and over were polled and found that 85 percent of Americans buy in bulk, which increased by two percent from last year’s survey.

Some 87 percent of Americans believe that they are better off financially by bulk buying as opposed to buying what you need, when you need it?

Bulk buying can help save people money on large quantities of their favorite items but be careful to not let it get wasteful. Read on for some tips from Rebecca Gramuglia, Shopping Expert atTopCashback.com:

Consider a wholesale club membership. If you’re an avid bulk buyer, a wholesale club membership might be a great fit for you. You can have access to large quantities of popular brand name items, as well as generic goods. Plus 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 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 cashback on your groceries or shop at wholesale clubs like BJs and Sam’s Club.

Why Buy in Bulk?

Source: topcashback.com

Why do Americans buy in bulk? (top three reasons)
• To save money (88 percent)
• To have a stock of products (57 percent)
• Fewer shopping trips (45 percent)

How much do Americans spend on weekly bulk buying?
• $50 to $100 (37 percent)
• $101 to $200 (27 percent)
• Less than $49 (25 percent)

Most popular items that Americans buy in bulk
• Toilet paper (95 percent)
• Laundry detergent (72 percent)
• Soap (50 percent)
• Toothpaste (47 percent)
• Shampoo and conditioner (41 percent)

These are the same top five items from last year’s survey and they are all non-perishable goods that can have a longer shelf life. Americans have become 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).

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 skeptical of the two, 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. Before you bulk buy, make sure you have an adequate storage area. If you can’t fit your food in the fridge or freezer, then where is it going to go? Probably in the garbage.