Let’s dive into bulk buying during rising prices
Amazing tips for bulk buying during rising prices season is the focus of this article.
Everyone in Nigeria is feeling the heat as a result of rising prices for; clothes, food, medical care, tuition fees, transportation, refilling of the domestic cooking gas cylinders.
The surge in the price for refilling gas cylinders seems to be the gist all over the nation. In my office, this is the most discussed issue everyone in the office is so concerned about it.
The fact that the end of the year is approaching and the New Year is knocking at the door is a reality for most family members. This is typically a wonderful time for families to get together and enjoy time with their loved ones and friends. But it also means that there will be a few more mouths to feed, additional clothes to buy, and yes, there’s an attire to buy for one event or the other.
The question is how do you go through this period of surging prices? Bulk buying comes in very handy, it will help in saving money for you.
Below are some bulk buying tips…
1)Keep your goal of buying in bulk in mind at all times…
Don’t go overboard and use up all of your supplies (as the idea is to keep in stock and use them over a long period of time).
Don’t eat too much just because your pantry is stocked. There’s no need to up your meat consumption to four pieces per meal if you’re used to one or two.
Keep your aim in mind and stay focused on saving money by buying in bulk.
2)Make your purchases ahead of time…
Try to buy and store non-perishable items ahead of time to prevent the last-minute rush, when prices will rise owing to demand.
Do you know that you may buy and store birthday, Christmas, holiday, and New Year cards and gifts up to a year in advance? When you buy in bulk during off-peak season, you’ll get excellent deals and a lot of freebies, and this applies to clothing as well.
Check the expiration date on perishable foods and try to buy when the demand for such items is low. Purchasing in bulk will allow you to benefit from greater economies of scale.
3)Some families buy in bulk and resell in smaller quantities so that their monetary expenditure is pooled for improved bargaining power…
There is no long-term savings account or long-term quarterly purchase in this plan. Money is simply pooled for the goal of stretching available resources to improve bargaining power.
These pooled monies can be used to purchase products such as end-of-year food shopping, school uniform purchases, apparel material purchases, and so on.
4)Return To Your Roots…
In today’s fast-paced society, there is a strong desire to return to the fundamentals—to make things as simple as possible and to return to ‘The Source.’
This is the whole point of going to a bulk food store! It’s all about doing things the old-fashioned way and keeping it simple. Cooking from scratch, as our ancestors did, and avoiding overly processed and packaged foods is a more genuine, gratifying, and nourishing way of life.
5)FORM A GROUP WITH THE AIM TO POOL RESOURCES TOGETHER…
This seems old fashioned to some people but it is another way of bulk buying with everyone contributing a certain amount over a period of time. The money contributed can be used in buying bags of rice, kegs of vegetable oil etc which are now shared among everyone in the group.
Furthermore, these things are cheaper when you buy them in bulk rather than at their retail price. The plus of this point is that this money is paid little by little with little or no stress on the individual.