Shoppers overspending by chasing supermarket discounts, research suggests
Half of Irish shoppers are overspending, shopping more frequently or buying what they don’t need – just to qualify for supermarket money-off vouchers.
That’s according to a new study by Coyne Research, commissioned on behalf of Aldi Ireland.
It found that consumers spent on average €9 extra, with three in ten claiming the additional spend was over €10.
This suggests that shoppers could be spending up to €477 more a year on groceries than they need to, if they overspend every time they shop.
46% of shoppers surveyed said discount offers such as “buy one get one free” and “three for two” lead them to spend more than they planned, while 43% said it leads them to buy things they don’t really need or want.
At a time when many people are struggling financially due to the rising cost of living, 42% said such offers don’t help them save money.
The research also shows that 30% of consumers believe supermarket loyalty schemes and money-off vouchers lead them to waste food.
“Our research tells a story that Irish shoppers are beginning to question whether money-off vouchers really benefit them or provide them with real savings,” said Bernie Coyne, Managing Director of Coyne Research.
Aldi Ireland pointed out that they do not operate a loyalty scheme or money-off vouchers, and are instead focused on offering the lowest prices possible.
Last week, figures published by Kantar showed that grocery prices are 7.7% higher than they were a year ago.
That puts the rate of grocery price inflation at its highest level since August 2008, despite a 3.1% fall in grocery spending by consumers.