Thursday, June 20, 2024

Consumers to spend an extra $18 billion in 2023

Australian households are paying thousands of dollars more for groceries per year, according to new research by Finder, Australia’s comparison site.

The average Aussie household spent $185 on their weekly grocery spend in February 2023 – up $37 a week compared to last February, according to Finder’s Consumer Sentiment Tracker.

That’s a whopping $1,924 increase per household over 12 months – or $18.8 billion more nationwide.

The research shows one-third of Australians (33%) are at the shops every few days, while more than half (53%) shop once a week.

Almost one in 10 (9%) food shop once a fortnight, while just 1% can stretch supplies all month. The research found 2% of Australians purchase groceries daily.

Sarah Megginson, money expert at Finder, said the cost of living crisis is putting a lot of pressure on food budgets.

“Households are facing some very tough times and escalating grocery costs are an extra burden.

“Aussies are having to change how and where they shop just to keep food on the table.”

Grocery bill stress reached a record high in March, with 43% of Australians ranking groceries as one of their top three most stressful expenses – the highest level since Finder’s Consumer sentiment Tracker started in April 2019.


Nearly half (48%) of those surveyed shop primarily at Woolworths, while Coles is in second place (39%).

One in ten consumers (10%) get their household essentials primarily from ALDI, while 2% visit their local IGA.

Previous Finder research found 9% of Aussies have stolen items from the supermarket at the self-checkout, while 10% have cheated at the self-serve checkouts by deliberately lying about what they have scanned.

How often do you buy groceries?
Once a week 53%
Once every few days 33%
Once every fortnight 9%
Everyday 2%
Once a month 1%
I don’t buy groceries (e.g live with parents) 1%
Source: Finder survey of 1,059 respondents, February 2023.

 

Which grocery store do you primarily use?
Woolworths 48%
Coles 39%
ALDI 10%
IGA 2%
Independent 1%
Source: Finder survey of 1,059 respondents, February 2023.

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