Comparing the Grocery Giants: Aldi Emerges as Australia’s Most Affordable Supermarket

Comparing the Grocery Giants: Aldi Emerges as Australia’s Most Affordable Supermarket

Unveiling the Most Affordable Grocery Store

A research study conducted by comparison site Finder has revealed that Aldi stands as the most affordable supermarket among Australia’s three major players, namely Woolworths, Coles, and Aldi. The analysis was based on a basket of 46 goods. The total price for this basket came to $199.69 at Aldi, $208.85 at Woolworths, and $214.32 at Coles. The data indicates a 7% difference between the cheapest and the most expensive supermarket.

Significant Price Variations Among Goods

While Aldi might emerge as the most affordable on the whole, the study also found significant price differences among specific items across these supermarkets. For instance, the cost of onions varied by a staggering 75% across these retailers. Similarly, one-litre bottles of lemon lime and bitters saw a 57% price swing from one store to the other. The most expensive item on the list was the eye fillet steaks, with a 500g portion costing $24.50 at Aldi, whereas the same at Coles and Woolworths was $26.

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Rising Strain on Household Budgets

The study was carried out in response to the increasing strain on household budgets due to rising grocery bills. According to Finder’s Consumer Sentiment Tracker, the average Australian household was reported to have spent $185 weekly on groceries in September 2023. This was a $15 increase from August 2022. Moreover, 42% of Australians acknowledged that their grocery shopping was causing them financial stress, marking a considerable increase from 19% three years ago.

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Turning to Low-Cost Grocery Stores

Graham Cooke, Finder’s head of consumer research, noted that more consumers are turning to low-cost grocery stores to find cheaper staple items like eggs and bread. He advised shoppers to compare prices across different supermarkets to save the most money. He also recommended considering loyalty points and programs, which could potentially reduce the total at the checkout.

However, he also cautioned that while larger supermarkets might offer a broader range of brands, not all products would be of the same quality. Shoppers might need time to adjust to the “no frills” versions of their favorite products.