Budget and Consumerism

Apply shopping Strategies Create a categorized shopping list More efficient Take a calculator Calculate what you are spending, stay on budget Don’t shop hungry or tired Tend to buy more Shop alone So wont be influenced into buying what you normally wouldn’t

Shopping Guidelines and Advertising Loss Leaders: is a pricing strategy where a product is sold at a price below its market cost to stimulate other sales of more profitable goods or services (loose money on this product but catches ppl’s eye to get them to come into the store and buy more.) Coupons/rebates: Coupon: instant price reduction on your purchase Rebate: Mail in to get a $ refund from original price. Impulse buy: Spur of the moment, unplanned decision to buy a product, made just before a purchase. 

Shopping Guidelines and Advertising Layout of store/shelf placement: Layout: Stores have a specific layout to draw shoppers in. Flowers at the entrance, produce just past the flowers, Bakery in the corner from the entrance, Dairy and so on. All have a purpose in its placement to encourage consumers to buy. Shelf Placement: Brand names are at eye level and store brand is lower, hidden, less accessible to consumers. Package dating: Use by or sell buy date doesn’t mean the product is going bad in all cases. Sometimes it can last days/weeks after the date. Some products don’t ever expire but by law they are required to put a date on the package. Milk: always get from the back of the fridge and with the date that expires the latest. More exposure to light makes it expire faster.

Shopping Guidelines and Advertising Calculate unit pricing/cost per serving: Unit price X product amount (found on package) The lower the unit price, the cheaper a product is, better deal.

Unit pricing

Name Brand vs. Store Brand Convenience foods Pro Saves on time Con Poor nutrients More expensive Name Brand vs. Store Brand Name Brand Depending on the product but it can be better quality. Flavor may be preferred ______________________________ Store Brand Cheaper May taste the same ____________________

Food Label Ingredient list biggest to smallest amount Nutrition facts % Daily Value Serving size

Food Label Terms Low in: depends on the reference, sodium: <140 mg, cholesterol: <20mg, Calories: <40 calories Reduced, less, light: 25% less than the original Good source of: One serving provides 10-19% of the Daily Value for a particular nutrient. Organic and natural: produced without artificial/man made help High source of: more than 20% of the daily recommended intake (mostly used in vitamins and minerals) 100% Juice vs. Drink, punch, juice cocktail, fruit flavored drinks, etc. 100% has some nutrient value, can be counted as a low source of fruit, all others are high in sugar, little to no natural nutrient value.