Wholesale membership warehouse chains like Sam’s Club and Costco are pretty popular among American consumers, as they offer the opportunity to stock up on everyday items at a discount. The lure of being able to save money per unit is an attractive proposition, and many consumers are taking advantage of the chance to get what they need without having to pay more.
In fact, bulk purchasing can help consumers save more than they might think. According to a University of Portland study, consumers can save as much as 89% when buying foods in bulk compared to individually-packaged foods. That’s a lot of money to be saved! Besides, imagine all the waste that can be eliminated by purchasing in bulk!
Are you capitalizing on this opportunity?
Here are a few tips to help you realize significant savings by purchasing your goods in bulk.
Check and Compare Unit Prices
Prices on store shelves typically specify the price per unit to help shoppers make more informed purchasing decisions. The idea behind buying in bulk is obviously to save on the unit price, but that doesn’t always happen.
Sometimes merchandisers try to lure shoppers to buy more (and therefore spend more) by using marketing pitches that make it sound as if shoppers are saving money by buying in bulk when they’re really not. As such, be sure to compare prices per unit to make sure you’re really getting a discount.
Try the Products First
Before you stock up on exorbitant amounts of items in bulk, make sure you’ve tried them first. It’s not really a deal if you’re spending hard-earned money for something you end up hating or don’t find useful. To avoid wasting your money, be sure to try the product first before buying it in bulk.
Consider Expiry Dates
Things like toilet paper and toothbrushes will last forever, but food products don’t. Unless you plan to consume perishable foods right away or freeze them, buying in bulk doesn’t make sense for goods such as these. Bulk purchasing is best left for items that have a really long shelf life.
Make Sure You’ve Got the Space to Store Your Bulk Goods
You might be getting an amazing deal when you buy in bulk, but you’ll be wasting all that money saved if you’ve got to pay for somewhere to store your goods. Ideally, you should have some storage space in your home – typically in the garage or basement – to house all these items. If not, your home will quickly look like it was featured in an episode of Hoarders.
Unless you’ve got a massive bank account dedicated to spending, you might find it really tough to swing several bulk purchases within a short period of time. While buying in bulk means saving on the unit price, it can still cost you a lot of money all at once. Instead, pace your bulk purchasing so you’re not blowing hundreds of dollars (or more) to cover these expenditures.
Make Sure You Actually Need (and Use) the Products
Don’t let the promise of a good deal cloud your better judgment. While you might be able to get a discount on something, you’re not saving anything at all if you don’t actually need the item. It’s not uncommon for consumers to be mesmerized by a good deal on a product they don’t even use. To make sure that doesn’t happen to you, consider making a list of items you need and stick to it at all costs.
What You Can (and Should) Buy in Bulk
As mentioned earlier, buying in bulk really only makes sense for items that either have a really long shelf life or don’t expire at all. That way you can make sure that your dollar is being spent wisely. When it comes to buying in bulk to save money, the following items typically make ideal expenditures:
- Toilet paper
- Toothbrushes and toothpaste
- Light bulbs
- Garbage bags
Items like these are perfect for bulk purchasing because you won’t have to worry about having to consume them in a rush before they spoil. Buying these everyday items in bulk can help you save a bundle – just make sure you’ve got the space to store them!
It makes no sense to spend more for a specific item when you can get it for less, and buying in bulk is a great way to realize some significant savings. You can always head to popular warehouse stores that are based on the premise of buying in bulk, but you’ll always find bulk purchasing options at your average grocery store as well if you pay attention. Take the time to come up with a sound plan of attack before you head out on a shopping spree to make sure your money is well-spent while stretching your dollar.
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