In an effort to get consumers back into their stores, some retailers are significantly slashing prices this summer on thousands of everyday items.
For older shoppers, especially those living on fixed incomes, this news is particularly welcome, especially when it comes to groceries. Since the pandemic, the cost of food-at-home has risen by 25 percent. More than 9 million older adults face food insecurity, struggling to access and afford adequate food. Aldi, Target, and Walmart are advertising extensive price cuts, including on groceries. However, determining which store offers the best bargains can be challenging without scouring their websites, navigating their aisles, and calculating unit prices for an accurate comparison.
Taking on this challenge, AARP armed with a list of 30 popular items, went shopping on New York’s Long Island to see which store had the cheapest groceries. The results were clear: Aldi, with 2,381 locations across 39 states and territories including California, Florida, Michigan, New York, Pennsylvania, Texas, and Washington, D.C., came out on top. From bananas to salmon, the basket at Aldi cost $66.11, compared with $67.63 at Walmart and $83.62 at Target. Agnes Sollecito, a 62-year-old retiree from Floral Park, New York, does her food shopping mainly at Aldi, drawn in by the low prices. She plans her meals based on the bargains she finds at the store. “It’s definitely cheaper,” says Sollecito, pointing to two pineapples in her shopping cart priced at $1.79 each.
Aldi recently announced plans to reduce prices on over 250 items, including picnic supplies, barbecue essentials, travel-ready snacks, and healthier foods. The company expects these reductions to save customers $100 million through Labor Day. A similar campaign saved customers $60 million last year. Aldi cited persistent inflation as the reason for expanding its price reductions this year. Prices have clearly decreased since last year; the same basket of goods cost $90.91 in May 2023.
Walmart, with more than 10,500 stores in every state and 19 countries, was only $1.52 more expensive than Aldi. Walmart’s generic brand held its own but was slightly more expensive in some categories, which pushed its basket bill over Aldi’s. In our price comparison last May, Walmart came out on top. At $88.37, its basket was $2.54 cheaper than Aldi’s. Walmart may win back its top spot as it expands its ongoing program of price rollbacks this summer. Paul Madiefsky, a 68-year-old retiree from Long Island, hasn’t noticed the price cuts yet but remains fond of the retailer. “Prices are reasonable. I don’t find them expensive, and they have good stuff,” says Madiefsky.
To save money, Madiefsky uses coupons, finding them online and in newspapers. As for Walmart’s price cuts, Madiefsky welcomes any savings. “It’s only a few pennies here, 20 cents there. But it adds up for people who are struggling,” he says.
