Do You Know Where to Shop to Get the Most For Your Money?

By , SparkPeople Blogger
In a recent IBM study, about three-fourths of the consumers interviewed revealed they still want quality and nutrition along with value when making food purchases during these more difficult financial times. The Braun research group conducted 4,000 telephone interviews with people across the United States from all income levels. Of those 4,000 people interviewed, almost half are now shopping at multiple stores to find the best deals. A third of the respondents indicated they have changed supermarkets to save money as well. Many expressed willingness to reduce spending on prepared foods, individual serving beverages, and clothing but not on meats or poultry. When the recession ends, about 60% expect to continue shopping for the best deal.

Where are they finding the best deals?

Over the summer, the McMillan/Doolittle consulting company conducted a grocery pricing survey in Chicago. The intent was to see if advertised price reductions allowed certain supermarkets to become more competitive. They also evaluated if popular supercenters and discount chains were as price beneficial as many believe and if store brands were the way to go to save money. Surveyors visited Safeway-owned Dominick's, SuperValue-owned Jewel, Target and Wal-Mart in Naperville, Ill outside of Chicago to do their study. Here is a summary of what they found.

If you prefer everyday brand names and specialty items, Target is the place to visit especially if it is the same distance away as Wal-Mart. On average, you will find them slightly lower than Wal-Mart but equally as price competitive. Both were found to be significantly less than supermarkets, which were 20-25% more than either of the discount stores.

If you prefer private or store labels, Wal-Mart is your low price leader. Since store brands can vary in quality, size and ingredients, it is always important to look a little deeper than price alone to be sure it is the best deal for you and your family. When looking for rock bottom prices, Aldi is the place to shop because they beat out Wal-Marts lower priced store brands. If you are interested in natural and organic foods for the best price, Trader Joe's beats out Whole Foods and many of their store brands are competitive with many mainstream grocers as well.

So, while many people believe Wal-Mart is the low price leader, Target is now giving them a run for their money. At the same time, Aldi and Trader Joe's are other cost leaders that might be worth checking out as you strive to get the most savings to feed your family well on a budget during these tougher financial times.

Did you find any of these results surprising? Do you shop at multiple stores to make the most of your shopping budget? Where have you found the best savings?