As you stroll down the grocery store aisle looking for the next item on your list, you might wonder which product gets you the most bang for your buck. Sales and coupons can help save some green, but what about those off-days when the items you need don’t come with a special offer? That’s where the shelf price tags come in. Those numbers are the key to helping you find the lowest prices, and your friends at Savory are here to help you interpret them.
When reading prices on grocery shelves, there are two numbers to notice: the retail price, aka the total price of the product, and the unit price, which indicates how much the product costs per pound or ounce. For example, if you have a 15-ounce box of cereal that costs $3.95, the unit price would be $0.26 per ounce. You get this number by dividing the total cost ($3.95) by the product’s weight (15 ounces).
The unit price lets you compare the prices of different sized packages to find the best deal. The higher the unit price, the more you’ll end up paying for the product. You might find that the brand you thought had the lowest price may not actually be the best deal.
Next time you’re at the grocery store, compare the unit prices of your go-to items. You might be surprised at the differences you’ll notice. As a general rule, products sold in larger quantities have a lower unit price. Conversely, smaller packages, such as individually portioned items, tend to have a higher unit price. Love the convenience of grab-and-go snack or cookie packs? Check out the unit price. Buying a larger box and portioning it yourself into baggies or lunchboxes could add up to significant savings.
No matter what’s on your shopping list, the more attention you pay to the unit price, the more savings you’ll rack up at checkout.
