New data has revealed that Aussies are spending $194 per week on groceries, a massive $1040 increase per household over 12 months, with nearly half of the population ranking groceries as one of their most stressful expenses.
The 2023 Finder Retail Awards surveys savvy shoppers to select the nation’s favourite supermarkets as the community grapples with the deepening cost of living crisis.
Now more than ever Aussies are looking for tips and tricks to put coins back in their pocket in the wake of 12 cash rate rises in 13 months and amid soaring inflation.
Supermarkets nationwide were ranked on factors such as taste, freshness and value for money.
This year’s big winner was Aldi, taking out the top spot across multiple categories.
These included best bakery, beef, seafood, pork and chicken.
Harris Farm also produced strong results, winning best supermarket deli, best supermarket fresh vegetables and best supermarket fresh fruit.
Woolworths and Coles were the weakest performers, with the former taking out best supermarket ham and best hot chicken, while the latter was only selected for best supermarket lamb.
Finder shopping expert Chris Jager said data such as this helped to inform stressed-out shoppers, with 40 per cent of Aussies ranking groceries as one of their most stressful expenses, up from 34 per cent last year.
Mr Jager said soaring grocery bills were adding “an extra burden” to households already doing it tough.
“Budgets have been stretched thin and people are having to change how and where they shop just to keep food on the table,” he said.
“(This data) is designed to help Australians navigate the competitive grocery market at a time when purchasing decisions are more important than ever before.”
In order to save some extra dough, shoppers are being urged to plan their meals ahead of time to ensure they don’t overspend at the supermarket.
Researching the prices of items you need before deciding which supermarket to go to can help you make the right decision, while it’s best not to shop when you’re in a rush as you’re likely to buy unnecessary items.
When choosing between items it’s best to look at the unit pricing of each product, meaning you check the cost per unit of measurement instead of the advertised price.
It’s much easier to compare the prices between different brands and package sizes this way.
Lastly, shoppers should consider buying frozen foods in bulk, such as fruit and vegetables.
It’s often cheaper to buy fresh produce frozen and helps to ensure that you’re getting enough nutrients and flavour in your home-cooked meals.
A UBS analysis of more than 60,000 supermarket items found grocery prices at Coles and Woolworths climbed by nearly 10 per cent in April.
This has stirred fears that it might be some time until shoppers see spending relief on the shelves, while other cost of living pressures also continue to rise.
Coles and Woolworths together hold two-thirds of the Aussie grocery market, with Aldi holding the next biggest slice with an 11 per cent share.
The federal government has forecast inflation to ease from 6 per cent by the end of 2022-23 to 3.25 per cent by the end of next financial year.