New research has revealed that Irish shoppers are spending up to €477 a year more chasing supermarket voucher discounts.
The study, undertaken by Coyne Research on behalf of Adi, asked 1,000 Irish adults about their spending habits when it came to groceries.
During a cost of living crisis and with food shortages globally, it doesn't make for good reading, with people spending on average €9 more than they should, leading to a whopping total of €477 if they try and qualify for 'money-off' vouchers each time they shop.
The main headlines from the report shows:
- 50% of shoppers overspending, shopping more frequently or buying what they don’t need just to qualify for supermarket money-off vouchers
- 46% agree “Buy One Get One Free” and “Three for Two” sale offers lead them to spend more
- 30% believe supermarket loyalty schemes and money-off vouchers lead them to waste food
€9 was the average extra money spent, with three in 10 claiming the additional spend was over €10. 60% of shoppers believe when using money-off vouchers their shop still costs more than they expected. Four in 10 shoppers believe money-off vouchers benefit the supermarket more than the shoppers.
46% of shoppers claimed discount offers such as “Buy One Get One Free” and “Three For Two” lead them to spending more than they planned, 43% said it leads them to buy things they don’t really need or want, while 42% said such offers don’t help them save money.
Commenting, Niall O’Connor, Group Managing Director ALDI Ireland, said: "The survey findings clearly show current supermarket loyalty schemes and money-off vouchers may actually increase the cost of Irish families’ weekly shop.
"The cost of running these marketing ploys is built into our competitors’ grocery prices and ultimately mean higher prices for shoppers.”
“Irish shoppers are facing difficult choices currently about how they spend their money, stretching their budgets to get as much as possible as they face the biggest decline in spending power for a generation.
"ALDI is committed to remaining the best value retailer in Ireland, whatever the global challenges we face and we take every step to shield our customers from price increases as much as possible.”
Discussing the research, Bernie Coyne, Managing Director of Coyne Research said, "At a time when many families are suffering a squeeze on their budgets vouchers and other supermarket schemes may seem tempting.
"However, our research tells a story that Irish shoppers are beginning to question whether money-off vouchers really benefit them or provide them with real savings."
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