Money News

Food inflation bites. Here’s how grocery couponing could help Canadians save


Ten years in the past when she was a scholar, Kathleen Cassidy found the ability of couponing when purchasing for meals.

These days, with excessive meals costs taking a chunk out of Canadians’ wallets, Cassidy has turned to social media to share her experiences in saving cash on the grocery retailer.

“I usually save 1000’s of {dollars} a 12 months,” stated Cassidy, who’s the founding father of the Residing on a Loonie social media weblog.

“Relying on what you employ and the way model loyal you might be, you may positively save some huge cash.”

Learn extra:

Canadians turning to couponing to economize amid excessive inflation charges

Couponing has been making headlines all year long because the Financial institution of Canada works to carry down the speed of inflation. In line with a latest CIBC ballot, many Canadians are using financial savings methods like couponing to economize on purchases. So how does it work?

Story continues beneath commercial

Coupons are sometimes given by producers and can be utilized for reductions on their merchandise, stated Sylvain Charlebois, director of the Agri-Meals Analytics Lab at Dalhousie College.

Coupons incentivize {the marketplace} by providing customers a reduction in change for buying their product. Coupons are completely different than grocery flyers, that are a type of promoting managed by supermarkets, Charlebois stated.

“Coupons will really incentivize customers to purchase the product by providing a reduction, so you need to take a bodily motion to be able to lower your expenses, whereas a flyer there’s some vertical coordination between grocers and producers, and so producers will need grocers to advertise their merchandise as a lot as potential,” he stated.

“Typically, cash incentives aren’t essentially only for customers, they’re for the grocery store as properly. So PepsiCo will say ‘For those who really put my chips on the entrance web page, left nook this week, we’ll provide you with credit, we’ll provide you with some kind of dividend primarily based on gross sales’ and issues like that.”

Story continues beneath commercial

Click to play video: 'Tips to save money while shopping'

Ideas to economize whereas purchasing

Typically in a grocery flyer, coupons might be discovered and they are often lower out, Charlebois added. They’re a means for a meals producer to have a relationship with a buyer.

“Usually, producers don’t promote on to customers. That coupon creates that relationship with customers. That’s the inducement for producers,” he stated.

“In return, you’ll give them some information in some unspecified time in the future as a result of you may very well must mail in a coupon otherwise you’re utilizing it on the level of sale. If it’s used on the level (of sale) itself, it is going to be despatched again, it is going to be recorded, and producers will know if you purchased their product and what different product to procure their product with. That’s crucial market information.”

The place can coupons be discovered?

In line with the Nov. 7 CIBC ballot, which sampled 1,520 Canadians on-line Sept. 14-15, 37 per cent of respondents stated they’re using methods reminiscent of couponing or searching for offers on the retailer.

Story continues beneath commercial

Coupons might be downloaded on-line from producers’ web sites or on financial savings web sites, they usually may also find yourself within the mail, stated Cassidy.

“The opposite one can be when you find yourself really on the retailer, so if you’re within the retailer numerous the instances (paper coupons) are straight by the merchandise within the aisle,” she stated.

“So it’s simply form of protecting an eye fixed open for these.”

Learn extra:

‘She’s a wealth of information’: Nova Scotia ‘Coupon Nannie’ offsets inflation

Whereas Cassidy stated couponing has saved her 1000’s of {dollars}, when used with different instruments like loyalty applications, the financial savings can add up much more, she stated.

“How a lot cash you’re going to avoid wasting when couponing actually is dependent upon how a lot effort and time you wish to put into issues,” Cassidy added.

How can Canadians make the most of these instruments to avoid wasting on meals?

Earlier than going to the grocery retailer, Canadians ought to take into account a meal plan, Cassidy stated. That includes fascinated with what they’re having to eat every night time, and what’s already of their fridge and freezer.

Story continues beneath commercial

“What gadgets do you really want to purchase? That alone can assist you form of pinpoint what gadgets you have to buy that week, what proteins are on sale,” she stated.

“It additionally helps you scale back waste as a result of numerous Canadians will go to the grocery retailer and choose up a bunch of stuff that they assume they want, however they haven’t form of thought by way of what their plan is. So by making a meal plan, even earlier than you go to the grocery retailer, it may actually assist save in all these areas.”

Click to play video: 'Inflation rates hold steady in October as economists expect another rate hike'

Inflation charges maintain regular in October as economists anticipate one other charge hike

By spending a while on-line earlier than going to the grocery retailer, Canadians can discover out what the truthful market worth is of things on their grocery listing, stated Charlebois.

“Do your homework first, then if you present up on the grocery retailer, if that value doesn’t match the worth that’s in your piece of paper or in your telephone, simply stroll away,” he stated.

Story continues beneath commercial

“Don’t go to the identical retailer on a regular basis, go to a special retailer each different week. You don’t must go to 2, three shops every week – simply go to at least one retailer every week, however alternate, and also you’ll discover out that issues are very completely different from one retailer to a different, even when it’s owned and operated by the identical proprietor.”

Learn extra:

Grocery buyers utilizing coupons to economize amid inflation

Cassidy agrees.

“A variety of shops are preventing to your cash and to your consideration … there’s going to be numerous loyalty factors gives,” she stated.

“If you come to the shop and also you spend X quantity of {dollars}, you’re going to get say, $25 again in factors or one thing like that, so that may actually allow you to then redeem your loyalty factors to get that $25 off of your grocery invoice or regardless of the supply is in retailer.”


Related Articles

Back to top button