The debate over grocery prices in Canada continues to heat up. Costco’s competitors, such as Loblaw, Frescho, Food Basics, Sobeys, and Metro, have been under fire for months due to soaring food prices. Last year, the CEOs of these companies defended their high prices, sparking frustration among Canadians. In May, thousands of shoppers even boycotted Loblaw over its outrageous grocery prices.
On the other hand, Costco has recently been ranked as one of Canada’s most trusted brands for 2023, a key distinction that has set the warehouse giant apart from its competitors. So, is it worth getting a Costco membership, especially considering the large quantities it sells?
Is Costco Worth the Membership?
When it comes to feeding a large family, Costco often offers better prices than traditional grocery stores like Loblaw. However, for those living in smaller households, Costco might not always be the best choice. We spoke with Mo, a personal finance expert who runs Canadian Budget Binder, to get his take on shopping at Costco for smaller households.
What’s Worth Buying at Costco for Small Households?
Baked Goods: If you’re not a baker, Costco’s bulk bread can be a great deal. Mo recommends Dempster’s whole wheat bread, often priced at $8 for a pack of three loaves. You can freeze the extras to avoid waste.
Cheese and Cured Meats: If you’re someone who hosts a lot of dinners, Costco’s prices on cheese and cured meats are tough to beat. These items are perfect for charcuterie boards and other gatherings.
Instant Coffee: Nescafé instant coffee is sold in large containers of 400+ grams at Costco, offering much better value than the smaller jars at stores like Loblaws.
Nuts: Costco’s bulk nuts are a great deal, especially if you snack on them often. Mo mentions that no other grocery store can compare to Costco’s prices on this.
Paper Products: Costco’s Kirkland-brand toilet paper and paper towels are widely regarded as the best quality at the best price.
What’s Not Worth Buying at Costco for Small Households?
While Costco offers many items at a great price, there are also some products that might not make sense for those with smaller households.
Fruits and Vegetables: Costco usually sells produce in bulk, and unless you can consume it quickly, it’s easy for fruits and vegetables to spoil.
Dairy: Like produce, Costco’s milk and yogurt are sold in large quantities, so they might not be ideal if you’re living alone or in a small household.
Meat: Costco’s bulk packs of meat might be a great deal for large families, but for individuals or couples, freezing them might not always work out as planned.
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Things to Consider When Shopping at Costco
- Online vs. In-Store: If you choose to shop online, be prepared to pay higher prices and delivery charges. Shopping in-store is the best way to take advantage of Costco’s deals.
- Travel Costs: Not everyone lives near a Costco. Factor in the cost of gas and your time when considering whether a trip to the warehouse is truly worth it, especially if it’s a long drive.
- Membership Costs: While Costco offers great value, you do need a membership to access its deals. Make sure you’re shopping there often enough to make it worth the investment.
Costco can be an excellent choice for larger households looking to save money, especially when buying bulk goods like bread, cheese, and household essentials. However, if you’re living alone or with a partner, you may want to be more selective about what you buy to avoid wasting food or money. It’s essential to come prepared with a budget and shopping list to avoid the temptation of overspending.
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