Australian consumers are significantly reducing their grocery expenses, saving an average of $315 annually by purchasing fresh food items nearing their expiration dates. A recent ING survey indicates that 86% of shoppers are engaging in this practice, leading to national savings of approximately $5.3 billion each year. Common items included in these purchases are fresh meats, poultry, seafood, bakery goods, and produce.
On average, Australians are buying near-expiry goods about two and a half times a month, translating to roughly 30 times yearly. Retail expert Gary Mortimer notes that this trend isn’t new, and savvy shoppers have long sought out discounts. However, Mortimer warns that finding these markdowns is becoming increasingly difficult as supermarkets implement advanced AI inventory systems to optimise stock levels and minimise waste.
The drive to reduce food waste has led retailers to explore alternatives, such as donating surplus food to charities rather than marking down prices. While purchasing discounted items nearing their use-by dates can result in savings, the availability of these products is dwindling as supermarkets focus more on sustainability.
Furthermore, the ING study highlighted that Australians could potentially save an additional $1,159 yearly by avoiding mid-week top-up shopping trips. Mortimer points out that shopping habits have shifted; consumers now tend to make more frequent, smaller purchases, which may seem manageable but can accumulate to the same expenditure as traditional bulk shopping.
This new trend of opting for smaller shopping trips is influenced by the perceived cost of an upfront large grocery bill, which can range from $160 to $180. In contrast, smaller shops that amount to around $40 feel more financially accessible. Yet, this behaviour often leads to similar overall spending when viewed across the week.
In response to the growing trend of seeking discounted products, two mobile apps were launched in Sydney last year to help residents find and acquire discounted meals and groceries from local shops, cafés, and restaurants. Through these initiatives, consumers can save money while also combating food waste, although the landscape of supermarket shopping continues to evolve.