Have you heard about Buying Clubs, where family, friends or neighbours pool their money and buy in bulk at discount warehouses like Costco and Campbells Cash & Carry? It seems like a fantastic way to save money and stop food wastage. But that doesn’t mean that it’s not without it’s risks. We’ve investigated the world of bulk buying bargains and scams to discover the best ways for you to save.Top Tips for buying in bulk:
1. Impulse spending alert: A recent study revealed that people often get “carried away” with bulk-buying and make purchases they regret. Marketing experts have even labelled this bulk-buying phenomenon as “Costco-sis” (after the discount super store). It’s easy to get swept up in a bargain, but if you are buying something that you would not otherwise have purchased you are no longer saving money.
Top tip: To avoid ‘mindless’ spending, always carry a shopping list and try your best to stick to it. A weekly budget can also be a great help when it comes to keeping spending in check.
2. Be careful when buying food. Always check the used-by dates and plan the product/s into your weekly or monthly menu. Also, bulk buying often leads to bulk eating… If you are the type of person who has to eat a whole block of chocolate in one sitting, avoid buying in bulk at all costs. And, beware of changing tastes. There can be too much of a good thing.
Top tip: Invest in air-tight plastic containers to keep your food fresher for longer. Use seasonal produce because produce that is easy for retailers to source with always be cheaper to buy.
3. Try before you bulk buy: Don’t stock up if you haven’t tried the product/s before. You don’t want to be stuck using cheap cotton wool pads that soak up all of your expensive beauty products for six months. There is a strategy to succesfully buying in bulk. It takes planning and patience (much more effort than your average grocery splurge) but it will pay off in the long run. When you slip your feet into that new pair of Louboutins, you’ll know it was all worth it.
4. Fickle about favourites? If, like us, you always want to try the latest beauty trend, don’t buy in bulk. Or you’ll be left with products you will eventually throw out. This is something to consider when buying fashion items at the end of the season. Sure they are cheap, but are they just going to gather dust when you crave the new season’s look?
5. Birthday blunders: We recommend stocking up on birthday cards and presents, but be careful about buying multiples of the same design or product. No-one likes to receive the same card twice – same goes for receiving a coffee maker three years in a row.
