With many households looking for ways to stretch their grocery budget, it's more important than ever to know how to spot genuine value. And you might be surprised to learn that the cheapest item on the shelf isn't always the best deal.
With many households looking for ways to stretch their grocery budget, it's more important than ever to know how to spot genuine value. And you might be surprised to learn that the cheapest item on the shelf isn't always the best deal.
One of the easiest ways to compare value is by checking the unit price. Usually displayed in smaller print on the shelf label, the unit price shows the cost per kilogram, litre, 100 grams or item. This makes it easier to compare products fairly, even when they come in different sizes or brands.
For example, you might be trying to choose between two boxes of cereal. One costs $4.50 and has a unit price of $1.13 per 100g. The larger box costs $6.00 and has a unit price of 86 cents per 100g. Even though the larger box costs more at the checkout, it's better value in the long run because you're paying less for the same amount of cereal.
The same applies to everyday items such as coffee, pasta, snacks, cleaning products and toiletries. Taking a moment to check the unit price could help you stretch your grocery budget further.
Unit pricing can also help you see through special offers and marketing claims. A product advertised as being on sale isn't always the cheapest option. Sometimes a similar product sitting right beside it has a lower unit price and provides better value for money.
Most supermarkets, large grocery stores and online grocery retailers are required to display unit prices in-store, online and in advertising for many common grocery items, including food, drinks, cleaning products and personal care items. The unit price should be clearly displayed near the selling price so shoppers can compare products quickly and easily.
However, not all businesses are required to provide unit pricing.
Smaller stores and retailers that don't sell a wide range of groceries may choose whether to display it. Some products, including clothing, furniture, appliances, hardware, toys and alcohol, are also exempt from unit pricing requirements.
It's also worth remembering that the same type of product may be sold in different sections of a supermarket at different prices. For example, nuts and dried fruit might be available in both the baking aisle and the health food section. Comparing unit prices can help you identify the better deal.
While you're shopping, it's also a good idea to keep your receipt and check that items have scanned at the advertised price. Businesses must display clear and accurate prices. If a product has more than one displayed price, or scans at a higher price than advertised, the retailer must either sell the item at the lowest displayed price or remove it from sale until the pricing is corrected.
When every dollar counts, knowing how to compare prices can help you shop smarter. Taking a few seconds to check the unit price could save you money every time you visit the supermarket.
For more information about unit pricing, visit the Australian Competition and Consumer Commission (ACCC) website: www.accc.gov.au/consumers/groceries/grocery-unit-prices
