Grocery shopping and wasting money
Question: What is the single biggest money waster when shopping for groceries?
Answer: Cheetos! Well, they're our downfall.
Seriously, impulsiveness is the most costly habit out there. An extensive research study of grocery-buying habits showed that 60 percent of the items put in a grocery cart are unplanned purchases — they are impulse buys. If you go to the store for 10 items you'll come home with 16.
By doing some simple planning — a weekly menu based on sale items and creating (and sticking to) a shopping list — most consumers could cut a huge amount of impulse buys from their grocery expenses.
If you want to read the study, Where the Rubber Meets the Road, A Model of In Store Consumer Decision Making, by J. Jeffrey Inman, Rosellina Ferraro, Russell S. Winer that was published on April 30, 2004 click the link below:
(Just be aware that this is a statistical survey and you may have to wade through technical terms you might not understand to get to the usable information).
This is the most extensive study of consumer buying habits ever created. It's a fascinating look what we buy and why. They tracked over 50,000 purchases made by 4000 consumers. The study shows that what you intend to buy when you go to the store is NOT what you come home with . . . not by a long shot.
In our next book (we're working on it right now) we're going to give readers the ammunition they need to beat this survey and walk away from the grocery store spending less money than ever before.
Read the entire study here