Oct 8, 2008 7:11 pm US/Eastern
Beat The Economic Downturn: Buy In Bulk
CBS 2 HD Tagged Along As Shoppers Saved Money At Area Warehouse Stores Like Costco, Wal-Mart, BJ's
NEW YORK (CBS) ―
There are some stores that are doing well despite the financial crisis. Bulk retailers like Wal-Mart, BJ's and Costco are reporting earnings increases.
In fact, net sales for Costco are up 13 percent this quarter.
CBS 2 HD learned a lot more about the growing trend that can save big money, even if you don't have a big family.
Jill Hano was in her glory on Wednesday. She was buying in bulk to save some bucks at one of the tri-state area's warehouse outlets.
"This is the best deal -- $4.49 for goat cheese," said Hano, of Pelham Manor.
The deals are plenty and in these tough economic times lower prices are much needed.
"I look at prices now," Hano said. "You know, these days our money is in the stock market, and the 401K is going down so we're going to tighten the belt. We've got two kids in college."
Hano is part of the estimated 100 million Americans who pay for a membership that opens the aisles to bulk buys, and big savings.
"The deals are so good you don't want to end up in the poor house because you buy too much," said Tod Marks of Consumer Reports.
Marks said the warehouse concept may not look pretty but it's profitable.
"It is a thriving, growing and bustling retail format and one that will probably flourish in the days ahead as the economy weakens," Marks said.
The downside to buying in bulk is there's not a lot of choice and depending on the price a manufacturer offers a store, the selections may change, too. But the price, as they say, is right.
"I really don't need to buy in bulk anymore but the prices are really good," Hano said.
Hano's two children may be away at school, but she said she still saves a lot buying for herself and her husband.
When asked what goes through her mind when she sees the cost differential, Hano glowed.
"Dollar signs," she said. "I can really see that certain things are much cheaper."
How much cheaper? Hano said she saved $100, which explains her smiles on the way out.
"Mission accomplished, that's for sure," she said. "This will last me a long time, too."
While there can be deals to be found, Consumer Reports warned it's easy to run up your bill. Half of shoppers polled said they spent more money than they intended.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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