Buying in bulk might not bring the cost savings that you expect.
For many of us, bulk buying is a great way to stock up on the products we want at a slightly lower per-item cost. Spending more in the short term, to come out on top in the long term.
This puts it in a category of practices based on the idea of “spaving” – spending money in an attempt to save it.
Sorted’s Tom Hartmann suggests paying extra care in these situations, because often consumers can just end up buying more.
In the case of bulk buying, shoppers can go in thinking that they will save money, and they often do so on individual items. In aggregate, however, they can end up spending more.
If you want to know whether something is a sensible bulk buy, Hartmann suggests thinking about the difference between butter and ice cream.
No matter how much butter you buy, you probably won’t start using a great deal more of it.
Buying more ice cream, on the other hand, may just mean that you start eating more ice cream than you otherwise would. Even if the price of each tub is lower, you might spend more overall.
Staples that are unlikely to change in consumption are great targets for bulk buying. Think flour, oil, rice, and spices. A good deal on these may mean savings in the long run.
Bulk shopping can get you great deals on treats too, but think carefully about whether that purchase will actually save you money.
If a packet of chocolate biscuits barely makes it through the door in your household, bringing home four packets instead may not actually mean a cost saving – even if they were discounted.
Another thing to consider is food waste. If you live on your own, buying perishables in bulk could mean a fridge full of expired food in the future.
If you eat a large volume of fresh foods that may not be a problem for you, but make sure to consider your personal consumption. If some of the food goes to waste, then it doesn’t contribute to the value of the bulk deal.
This also extends to buying products that you are unsure about or have never tried before. It may be better to test out a smaller size first, so that if you dislike it you are not stuck with it.
Bulk buying can be a great tool in your arsenal, but putting some thought into which items you buy in bulk can help you make better choices when you shop.
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