Bulk buying is something we do when a sale or a good deal is currently running, and we’ve got some of our favourite supplies to pick up from a shop. We buy as much as we can whilst shaving off some necessary pennies, and thus, a lot more can go towards our savings account than usual! Simple, right?
Let’s go over how much money bulk buying can really save you, and if it’s as necessary to do from time to time as we may think.
How many signs like these draw you in through a shop’s door? (Pexels Image – CC0 Licence)
On Average, How Much Does Bulk Buying Save?
It seems to be that most people, and companies, can save roughly about 20% on their supplies by buying in bulk. About a fifth of the usual price is knocked off the total cost, and that makes a lot of difference if you’re trying to bulk out your savings or widen your profit margin compared to your costs column. However, this doesn’t apply to everyone who goes shopping in bulk!
A lot of us can save a lot more when buying in bulk, especially when it comes to non perishable items that come in cans or securely wrapped; your food cupboards in the kitchen can be stocked up to the brim with items that didn’t nearly cost you as much as what goes into your fridge.
Working Out Cost Per Unit
If you want to know whether your bulk buying plans are worth it, you’ll need to be able to work out the cost per unit. You only save if the unit cost goes down, rather than the cost overall – it’s why a lot of people like to buy fuel in bulk, from sites such as gasoildrums.co.uk. Petrol costs a lot per gallon, and being able to foot the bill every time might not seem worth it.
Membership Options Can Be a Worthy Investment
It’s important to keep in mind that you’re only going to save via bulk buying if you always planned to buy more of those discounted items. If you bulk buy an item that you never planned to spend on, and you never thought you might have needed until you saw the sale, you’re not saving money at all! It’s just an extra expense. Not only that, it’s also crucial to know who are the best providers of these items; some shops are cheaper than others, after all.
That’s where store membership options come into play. If you can get a discount based on the amount of points you collect per shop, which turn into money off coupons at the end of the year, that’s just another potential saving you can make on your items.
Bulk buying can save you money, as long as you know the ins and outs of the price, and you’re in need of the items in question. Make sure you work both of these things out before spending at a sale.