GREENSBORO, N.C. — Big-name brand stores are slashing prices to get customers back in the door. But what's the catch?
Money Expert Ja'Net Adams explains how to make the most of these savings.
Tables Are Turning
Recently we talked about the elevated prices at the grocery store and how households are being stretched thin when it comes to buying food. One of the tips I shared with shoppers was to pick an alternative when you see a product that keeps going up in price. This will tell companies that their prices are too high. Well, it looks like that strategy has already been in motion all over the country and change is coming.
Companies Are Paying Attention:
Companies all over the country are telling their investors that American customers are cutting back on their spending in the last few months. Customers are going to less expensive grocery stores like Aldi and eating at restaurants less. Some CEOs have even said they feel customers are in a personal recession even if the country is not in a recession.
Where Are The Savings:
Now that companies see customers are rebelling against their high prices stores have announced they are cutting prices across the board and many of the cuts are in the grocery section. Walmart is cutting prices on 7000 items. Target on 5000 items. Amazon Fresh on 4000 items. Even McDonalds and Burger King are going to roll out a $5 meal!
Stack The Savings:
Now that prices are coming down on groceries that doesn't mean as a customer you take your foot off the gas. It would help if you found ways to stack the savings. Although the prices are coming down, still make sure to catch your favorite items on sale. Many items go on sale on a revolving cycle. Once you learn the cycle you can buy the item for a lower price each time. Also, use receipt apps that give you money back for the groceries you buy! There are multiple ways to save money on groceries; you just have to be strategic. Money always makes companies pay attention and when consumers pull their money away companies change their behavior.