VIDEO: What consumers can do during an affordability crisis

Based on affordability issues Canadian’s are facing with elevated gas, food, counter-tariffs, interest rates (potentially soon), etc. what are some of the best practices to help consumers save money during an affordability crisis.

Bruce Winder, a retail analyst, shops this way and offers the following advice:

1. Buy groceries from discounters – these stores cost less as they have fewer amenities and a lower operating cost. You can save 20-30%. ie. No Frills/Maxi.
2. Channel down – avoid specialty shops and try to buy from dollar stores or discounters (e. Dollarama/Dollar Tree) for basics.
3. Plan for Sale Events – avoid buying anything at regular price. Make a list and wait for major sales events like Black Friday/Cyber Monday or Prime Day.
4. Consolidate purchases under 1-2 loyalty programs – pick 1-2 loyalty programs and consolidate all gas/grocery/drug, etc. under one program that offers cash points (ie. PC Optimum).
5. Consider store brands/private label – you can save 20-30% off national brands with the same quality. (ie. Motomaster, Mastercraft).
6. Think of Resale – vintage/thrift has gone mainstream with numerous retailers and websites to buy & sell preloved items. (ie. Facebook Marketplace). You can save 50% or more.

More from Retail Insider:

• VIDEO: Retailers face margin pressure, uncertainty as Canada’s U.S. counter-tariffs take effect
• Competition Bureau concerned that grocery deals are being kept from Canadians