Shopping can be overwhelming with all the options and trying to find the best deals. One simple trick to stretch your budget further is to compare unit prices. Understanding this concept takes the guesswork out of getting the most bang for your buck. This guide will explain why is figuring out the unit price of something useful when shopping. Let’s dive in to learn how this basic skill can transform the way you shop.
What is Unit Pricing?
Unit pricing shows the cost per standardized unit such as ounce, pound, fluid ounce, pint, liter, etc. It allows you to accurately compare prices of different sized items or brands to determine which is truly less expensive.
For example, Brand A sells a 20 oz bottle of ketchup for $3 and Brand B sells a 28 oz bottle also for $3. Just looking at the overall price, they appear equal. However, the unit price shows that Brand B is actually cheaper per ounce.
Without understanding unit pricing while shopping, it’s extremely easy to choose a smaller product thinking you got a good bargain when in reality a larger size was a better deal. Knowing a few simple formulas makes comparison shopping much more straightforward.
Why Unit Pricing Matters
There are several key reasons why figuring out and comparing unit prices is useful:
- Get More for Your Money
The most obvious benefit is maximizing what you can buy with a set grocery budget. Paying attention to unit price ensures you don’t spend more than needed for the same amount of a product. Over many shopping trips, those small savings per item add up to big overall savings.
- Compare Different Brands Easily
It can be tricky to compare different brands and sizes, but unit pricing simplifies it. You can quickly see which option gives you more product for the money no matter misleading marketing claims. This prevents getting tricked into choosing a seemingly cheaper product that actually provides less.
- Identify Best Deals
Many stores now have unit pricing on shelf labels under each item, making it effortless to identify the best deals. You don’t have to wonder if the sale price or different size is actually cheaper. One glance at the unit price label tells you exactly which option saves the most.
- Plan Meals and Stock Up
Unit pricing also helps plan what items to buy and stock up on at the best value. You can easily see which foods are priced well currently to build meals around. And when you find staple pantry items or freezer foods at excellent unit prices, you know it’s worthwhile to buy more to store.
- Compare Different Stores
Another useful application is comparing prices at different grocery stores armed with unit price knowledge. You may assume one store has better overall pricing, but that often varies by specific products. What’s cheapest at one store may be more expensive than other stores for different items.
- Avoid Impulse Purchases
When trying to stick to your shopping list, seeing a good unit price can tempt you to toss extra items in your cart. But that unit pricing knowledge works the opposite way too. When you see higher unit prices on sale items or bulk packages, it helps avoid impulse purchases since you know it’s not actually as good a deal as it seems.
How to Calculate Unit Price
If this concept is new to you, don’t let figuring out the math scare you off. It’s not complicated formulas, just basic division. To find the unit price of any product, there are only two key pieces of information needed:
- Total Price First, note the total shelf or advertised price of the item.
- Quantity Next, pay attention to what quantity that price is for. This is often listed as ounces, pounds, count, fluid ounces, etc.
Then divide the total price by the quantity the price is for. This gives you the unit price which is typically shown per ounce, pound, fluid ounce, 100 count, etc.
Here is the basic unit price formula:
Unit Price = Total Price ÷ Quantity
Let’s take a look at a couple examples to see this formula in action:
Example 1: Tomato Sauce
- Brand A, 24 oz jar for $2.49
- Brand B, 28 oz can for $2.29
To find the unit prices: Brand A (24 oz jar) Unit Price = $2.49 ÷ 24 oz = $0.10/oz
Brand B (28 oz can) Unit Price = $2.29 ÷ 28 oz = $0.08/oz
Comparing the unit prices show Brand B saves 2 cents per ounce, making it clearly the better deal even though the total cost is only 20 cents less. This shows why the unit price comparison is so valuable.
Example 2: Yogurt
- Brand C, 32 oz tub for $4.99
- Brand D, 6 count of 4 oz cups for $3.49
Brand C (32 oz tub) Unit Price = $4.99 ÷ 32 oz = $0.16/oz
Brand D (4 oz cup) Unit Price = $3.49 ÷ (6 x 4 oz) = $3.49 ÷ 24 oz = $0.15/oz
Again the unit price comparison reveals that Brand D is a slightly better deal per ounce. So even though you’d have to buy 6 single serve cups instead of one large tub, you save a little by choosing Brand D.
Tips for Finding Unit Prices
Getting in the habit of checking unit prices takes your shopping game to the next level. Here are some useful tips:
- Look for unit pricing on shelf labels. Many grocery stores now list prices per ounce, pound, etc on shelf tags below items. This makes comparison super quick right in the aisle.
- Use store apps or websites. If unit prices aren’t on shelf labels, check if the store’s app or website lists them to make decisions as you create shopping lists.
- Divide totals yourself. For stores that don’t provide unit pricing, do the quick math yourself. Have a calculator handy to divide totals.
- Compare same types of items. Only compare unit prices of comparable products – i.e. 32 oz yogurt to 32 oz yogurt, not 32 oz yogurt to 6-count yogurt.
- Factor in other costs. Unit price calculates the product only cost. If one item goes bad quicker or requires other ingredients, factor that impact in too.
- Consider convenience and preferences too. While a vital tool, unit price shouldn’t be the only deciding factor. Also weigh convenience, quality, taste etc. that might justify paying a little more.
Unit Pricing for Common
Grocery Items To give a sense for typical unit prices in the grocery store, here are averages for common items:
Produce
- Bananas: $0.50 per pound
- Avocados: $1.00 – $1.50 each
- Tomatoes: $2 per pound
- Bagged salads: $0.50 per ounce
Dairy
- Milk: $0.05 per fluid ounce
- Eggs: $0.20 each
- Yogurt: $0.15 per ounce
- Shredded cheese: $0.05 per ounce
Meat
- Ground beef: $4-6 per pound
- Chicken breast: $3-4 per pound
- Deli turkey: $0.10 per ounce
Packaged/Canned Foods
- Cereal: $0.25 per ounce
- Pasta: $0.10 per ounce
- Canned beans: $0.10 per ounce
- Tomato sauce: $0.05 per ounce
Freezer
- Frozen vegetables: $0.10 per ounce
- Ice cream: $0.30 per pint
- Frozen meals: $2-4 per meal
Knowing typical unit prices for common purchases helps identify good deals in each aisle. Use it as you get more comfortable evaluating unit pricing.
FAQs
- Do I have to calculate unit prices myself or do stores provide them?
Many major grocery store chains now include unit pricing on shelf tags under items, making comparison shopping extremely easy. But some smaller stores still don’t, requiring you to calculate them.
- What are the most common units used?
Ounces and pounds are very frequent units for shelf pricing of food, ounces for containers of things like yogurt and pounds for produce. Fluid ounces are used for liquids like juice. Count is also common for items sold individually like eggs.
- Can I easily compare different types of products using unit pricing?
You can only accurately compare unit prices of the exact same or very similar products – i.e. 16oz jar peanut butter to 16oz jar peanut butter. Comparing between categories like peanut butter to jelly doesn’t work because the inherent value differs.
- Are unit prices consistent between stores or only useful at one store?
Unit pricing helps compare options within the same store visit. But it can also identify variation between retailers, making it useful for shopping around if willing to visit multiple stores to save.
- What are the limitations of only using unit price to choose products?
While an extremely valuable tool, unit price isn’t the only factor. Quality, ingredients, convenience, purpose, expiration dates, and tastes preferences also impact purchasing decisions. It’s meant to inform, not replace, your own judgement.
Conclusion
I hope this guide emphasized why is figuring out the unit price of something useful when shopping. It truly optimizes your grocery budget and stretches dollars further without having to clip tons of coupons or only buy what’s on extreme sales. What seems like a small difference of just pennies per ounce or pound adds up substantially over time. Just dedicating a little mental energy to compare unit prices leads to big savings.
The formulas are simple enough for anyone to pick up quickly too. And stores now provide the information right on shelf tags, making it effortless to identify the best deals as you shop. The purpose of comparison shopping is to maximize the value of your purchases by considering factors such as unit pricing, enabling you to make informed choices that turn each grocery trip into a series of big financial wins, making the shopping experience satisfying rather than frustrating.
