Comparing prices is a skill – Here’s how to save cash

Knowing how to compare prices and save is an important skill in the current financial climate where everything cost a lot more. Saving money now requires a lot more than simply buying in bulk, but once you know how to do it, paying the best price will be easy.

You have to find a product that offers the most product for the amount you pay, as buying in bulk is not always the cheapest option. That is where the unit price of the product becomes important. The unit price of products in grocery stores are indicated on the shelf where the products are packed and is the cost per quantity of the item.

The quantity could be per item or per unit of measurement, such as grams or millilitres. Use the unit price to compare different brands to see which one offers the most value for money to save when you compare prices.

If the product is priced by item or unit, the unit price will be the cost of the item, such as toilet paper, where you would compare the price of a single unit with the price of a pack of 10 or 24. If a single roll of toilet paper costs R5 and a pack of 10 costs R65, the obvious choice would be the single toilet rolls, but then also check that you are comparing apples with apples.

You have to ensure that the products you compare are exactly the same. The R5 toilet roll could be one ply, while the pack of 10 could be double ply, which would in any way be more expensive. If it matters to you, check that the quality of the products is similar.

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Different prices on the shelf and at the till

This is an issue that had consumers and retailers at odds for many years, until the issue was tackled in section 23 the Consumer Protection Act.  According to section 23, a retailer cannot require you to pay a price for any goods or services that is higher than the displayed price or if more than one price is displayed, one of the higher prices.

However, this does not apply if the price is determined by public regulation. If the price has been fully covered and obscured by a second displayed price, the second price is regarded as the price. However, if the price is an inadvertent and obvious error, the shop is not bound by it after correcting the error and taking reasonable steps to inform consumers about it.

The retailer is also not bound by a displayed price if an unauthorised person altered, defaced, covered, removed or obscured the correct price.