It's no secret that the cost of living in Australia has been steadily rising. It has impacted everything, from rent to transportation costs. It’s also affected the cost of our weekly shop.

That’s why Aussies are finding ways to stretch their budget further by switching to home-brand products.

Research conducted by NielsenIQ for the 2024 Product of the Year Awards recently found that over 45 per cent of Aussie grocery shoppers have been switching to home-brand options in the supermarket.

This percentage was higher among those on lower incomes of $40,000-$59,000 yearly and women aged 45-54.

Shoppers resorted to buying supermarkets’ home-brand products due to the cost-of-living crisis. Credit: Shutterstock

These findings were also reflected in the annual awards, with Coles and Woolworths being awarded for their home-brand, deli, and bakery products.

Coles won 19 out of 44 awards—which included its Coles and Coles Finest products—while Woolworths took home 10 awards. Despite these two bagging the most awards, ALDI took the top spot for being the ‘most affordable’.

Product of the Year director Sarah Connelly said that the steady increase in the cost of living changed how Aussies shopped by considering affordability as one of their purchasing decisions.

Based on the survey of over 5,000 Aussies, three in five shoppers were cutting back on snacks, such as chocolates, desserts, and premium nuts, to save money.

‘Whilst snacks and treats were commonplace in the shopping trolley before living expenses started to increase exponentially, these are now classed as luxury items rather than a need, with many shoppers viewing snacks as a low priority when it comes to feeding the family,’ Connelly said.

Aside from buying home-brand products, the survey also revealed that around 86 per cent of shoppers used cost-cutting techniques, including switching to cheaper cuts of meat, (42 per cent), cutting back on food delivery (40 per cent), and eating home-cooked meals and leftovers (38 per cent).

Finder’s Consumer Sentiment Tracker reported in November 2022 that 78 per cent of Aussies felt stressed about their current financial situations, and 26 per cent said they were ‘extremely stressed’.

Personal finance expert Amy Bradney-George has recognised any opportunity to cut back costs.

'For some people, that could mean switching to home-brand products at the supermarket or cutting back on snacks and treats like chocolate,’ she said.

‘It could also mean buying fruit and vegetables when they’re in season or stocking up on non-perishable in bulk when there’s a good sale.'

‘Shopping around for better deals not just at the supermarket but also on utilities, insurance, account fees and services,’ she added.

Key Takeaways

• Nearly half, or 45 per cent, of shoppers are switching to home brand options to save on grocery costs, according to research conducted by NielsenIQ.
• Cost-cutting measures are driven by the rising cost of living and have changed the way Australians shop, with affordability leading purchasing decisions.
• Other cost-saving tactics include switching to cheaper meats, reducing food delivery, consuming more homemade meals and eating leftovers.
• Coles and Woolworths have both received recognition in recent awards for their home-brand products.

What do you think of this story? Have you also made the switch to home-brand products? Let us know in the comments below!

 

[Leenie]

I have always bought what was necessary no chocolates drinks etc etc unless it was for a special occasion. I grew up in the war years and remember the restrictions compared to today what is available today. At the time as a child I knew no different but now as I see what people seem to have that they cannot do without I realise how lucky I grew up knowing to only buy the necessary things. Looking through the food catalogues I bypass all the drinks chips biscuits and ice creams but it seems that these items are what everyone buys nowadays.
As for buying the cheaper or shop brands if we all bought mostly these brands, it would not be long before the stores would not have the other brands on their shelves. Maybe that is where they are heading us then there will be competition

I grew up in the same era and we were taught how to budget, these days no one knows how to cook or have control over their buying habits.

 

[Clancieblue]

Our woollies manager told me years ago a lot of their
products came from the same producers namely Australian reason for cheaper price, sadly he has now left .

Thats interesting.

 

[Leenie]

Thats interesting.

One instance woollies soda water is KIRKS.

 

[kaza60]

It's no secret that the cost of living in Australia has been steadily rising. It has impacted everything, from rent to transportation costs. It’s also affected the cost of our weekly shop.

That’s why Aussies are finding ways to stretch their budget further by switching to home-brand products.

Research conducted by NielsenIQ for the 2024 Product of the Year Awards recently found that over 45 per cent of Aussie grocery shoppers have been switching to home-brand options in the supermarket.

This percentage was higher among those on lower incomes of $40,000-$59,000 yearly and women aged 45-54.

View attachment 34971

Shoppers resorted to buying supermarkets’ home-brand products due to the cost-of-living crisis. Credit: Shutterstock

These findings were also reflected in the annual awards, with Coles and Woolworths being awarded for their home-brand, deli, and bakery products.

Coles won 19 out of 44 awards—which included its Coles and Coles Finest products—while Woolworths took home 10 awards. Despite these two bagging the most awards, ALDI took the top spot for being the ‘most affordable’.

Product of the Year director Sarah Connelly said that the steady increase in the cost of living changed how Aussies shopped by considering affordability as one of their purchasing decisions.

Based on the survey of over 5,000 Aussies, three in five shoppers were cutting back on snacks, such as chocolates, desserts, and premium nuts, to save money.

‘Whilst snacks and treats were commonplace in the shopping trolley before living expenses started to increase exponentially, these are now classed as luxury items rather than a need, with many shoppers viewing snacks as a low priority when it comes to feeding the family,’ Connelly said.

Aside from buying home-brand products, the survey also revealed that around 86 per cent of shoppers used cost-cutting techniques, including switching to cheaper cuts of meat, (42 per cent), cutting back on food delivery (40 per cent), and eating home-cooked meals and leftovers (38 per cent).

Finder’s Consumer Sentiment Tracker reported in November 2022 that 78 per cent of Aussies felt stressed about their current financial situations, and 26 per cent said they were ‘extremely stressed’.

Personal finance expert Amy Bradney-George has recognised any opportunity to cut back costs.

'For some people, that could mean switching to home-brand products at the supermarket or cutting back on snacks and treats like chocolate,’ she said.

‘It could also mean buying fruit and vegetables when they’re in season or stocking up on non-perishable in bulk when there’s a good sale.'

‘Shopping around for better deals not just at the supermarket but also on utilities, insurance, account fees and services,’ she added.

Key Takeaways

• Nearly half, or 45 per cent, of shoppers are switching to home brand options to save on grocery costs, according to research conducted by NielsenIQ.
• Cost-cutting measures are driven by the rising cost of living and have changed the way Australians shop, with affordability leading purchasing decisions.
• Other cost-saving tactics include switching to cheaper meats, reducing food delivery, consuming more homemade meals and eating leftovers.
• Coles and Woolworths have both received recognition in recent awards for their home-brand products.

What do you think of this story? Have you also made the switch to home-brand products? Let us know in the comments below!

that is what Coles has been trying to do for a long time

 

[Leenie]

@. R Kloosterman, hopefully an update may have been done on chemicals in food etc.

 

[IAN3005]

I grew up in the same era and we were taught how to budget, these days no one knows how to cook or have control over their buying habits.

You must be of the old school... 'cut your coat according to the cloth'. As the price of food increases, there are things that drop off the shipping list... Only buy the necessities.... bare necessities that keep body and soul together.

I would hate to see what the credit cards are in arrears, at 26% interest rate.

 

[Leenie]

You must be of the old school... 'cut your coat according to the cloth'. As the price of food increases, there are things that drop off the shipping list... Only buy the necessities.... bare necessities that keep body and soul together.

I would hate to see what the credit cards are in arrears, at 26% interest rate.

Yes, I can remember you needed coupons to buy food and clothing ,as everything was rationed .