Do you, like most Canadians, groan when you think about the growing cost of groceries?
It’s been a wince-inducing trend for several years now, and food industry experts are not forecasting any short-term relief.
The annual Canada’s Food Price Report has predicted that compared to 2024, food prices will increase for Canadians by three to five per cent in 2025* — a number that’s higher than the Bank of Canada’s estimated inflation rate of between one and three per cent.
So, how do you battle back and become a thriftier grocery shopper? Here are seven proven strategies for trimming the grand total at the grocery store checkout.
*Source: Canada’s Food Price Report
1. Make a list, stick to budget
This advice is anything but new, but being organized and disciplined with your shopping list is more important than ever. Without a list, it becomes too easy to grab non-essential items that will upset the careful balance in your budgeting and meal planning.
As a rule of thumb, grocery expenses should be about 10% to 15% of your monthly household income. To create and stick to a realistic budget, track your grocery spending for a few months with a budgeting app or spreadsheet. This will provide an accurate guide for what you need to spend in the months ahead, but frequent reviews of the budget are also a good idea to keep it current.
2. For long-term savings, buy in bulk
Now that you’re tracking what you buy and how much you’re paying, you’re better equipped to find bulk discounts, potentially at a wholesale club like Costco. (As an environmental bonus, buying in bulk also reduces packaging waste!)
Although you’ll initially pay more for a given product when making higher-quantity bulk purchases, research shows that you can save as much as 25% over the long term*.
Bulk buying is clearly better suited to larger households that have the necessary storage space. If that’s not you, consider teaming up with family or friends to make bulk purchases as a group.
*Source: MagnifyMoney. Consumers Can Save 25% by Shopping in Bulk, but Is It Always Worth It? Consumers Can Save 25% by Shopping in Bulk, but Is It Always Worth It?
3. Shop with a leading cash back credit card
Smarter shopping requires effort – and that effort should be rewarded! Regular use of the Meridian Visa Infinite Cash Back Card at supermarkets can make a significant difference in your monthly spending. That’s because you’ll earn four rewards points for every dollar you spend on groceries! See all the card details here.
You can then redeem those points in a wide variety of ways, including merchandise, travel, gift cards, and account credit.
In fact, all of Meridian’s cash back Visa cards give you rewards for grocery purchases, so take a few minutes to compare the benefits.
4. Pick your best store and be rewarded for loyalty
When you grocery shop consistently at the same store, you deserve discounts and special attention. That’s why most stores have loyalty programs that you can join at no cost.
The wide range of loyalty benefits can include rewards and redeemable points accumulated over time, personalized offers shared with you through email and other digital channels, and early access to sales or promotions before they’re available to the public.
Important things to consider when evaluating loyalty programs include whether they feature minimum spending thresholds to trigger rewards and whether points come with expiration dates.
5. Be savvy and strategic with coupons
Good old-fashioned coupons (whether clipped from flyers or in digital form) can deliver real savings, especially on the supermarket items you purchase regularly. And to strategically save even more, use coupons in combination with store sales. The challenge here is to time your shopping trips to align with store promotions that apply to the coupons on hand.
Coupons are a proven way to save but good use of them requires time. If you can devote a few hours a week to searching for them and planning shopping trips around them, you’re off and running, especially if you live in a large household with big grocery lists.
6. Choose refillable cleaning products
Last but not least, rather than pay for and recycle a new plastic container every time, purchase soap and cleaning products that can be refilled at the store. It’s a great way to save money and look out for the environment while you’re at it.
As a bonus, refillable products are typically offered by companies committed to sustainability and eco-friendly practices. Their products are usually natural and non-toxic, reducing your exposure to harsh chemicals.
7. Explore the growing range of price-matching apps
Apps dedicated to price matching and grocery savings are rising in popularity, and they offer different approaches for cutting costs. Some let you create digital shopping lists and compare prices across stores, some display a wide variety of store flyers and special promotions, and some use barcode scanning and online searches to let you compare prices.
Check in with these apps when shopping in store or online. They're especially helpful during the holiday season when you’re prepping to prepare a festive feast!
Start with the best card
No matter where you buy groceries or which savings strategy you choose, the Meridian Visa Infinite Cash Back Card ensures that it’ll be a rewarding experience – including four rewards points for every dollar you spend. If shopping at the Loblaw family of stores is your preference, our Visa Infinte Cash Back Card was recently named among the top cash back cards to use there by Rewards Canada. See all the details here.
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