Despite food prices growing at a slower rate than last year, according to the U.S. Department of Agriculture, they’re still above historical averages, leaving many Americans pinching pennies.
If you’re looking for ways to cut costs beyond eating at home and meal planning, it may help to switch to a cheaper grocery store.
According to MarketForce Information’s 2023 U.S. Grocery Benchmark Study conducted by MarketForce Information, these are the seven grocery stores that offer the most value for your money.
1. ALDI
Value for money: 90% of survey respondents said ALDI offers value for your money.
Locations: 2,300 stores across 39 states
ALDI is a discount grocery store with German roots dating back to 1961. Over the past 50+ years, however, the company opened more than 2,000 stores across 39 U.S. states. It aims to offer a no-frills shopping experience with hand-selected, high-quality products and low prices.
“One of the cheapest grocery stores in the U.S. right now is ALDI, which has seen a steady increase in popularity in recent years. Many diehard fans enjoy the quality and exclusivity of most of ALDI’s products, including the ever-changing seasonal items lineup,” says Jake Hill, CEO of the personal finance website DebtHammer.
[READ: How to Save Money When Grocery Shopping on a Budget]
2. Woodman’s Markets
Value for money: 88% of survey respondents said Woodman’s Markets offers value for your money.
Locations: 19 stores across two states
In 1921, John Woodman opened the first Woodman’s grocery store in Wisconsin. His family passed down ownership through several generations and opened many more locations before selling the majority of the company to employees in 1998.
Today, Woodman’s Markets is employee-owned and has 19 stores across Wisconsin and Illinois. It strives to provide the best prices, selection and service out there.
3. WinCo Foods
Value for money: 87% of survey respondents said WinCo offers value for your money.
Locations: 139 stores in 10 states
You can trace all 139 employee-owned WinCo grocery stores back to 1967 when a Waremart opened its doors in Boise, Idaho. The original store grew into a chain well-known for its flat carts and low prices.
When the original founder passed away, employees joined forces and bought a controlling stake from the family. Soon after, Waremart became WinCo, which has continued to grow ever since. While the store no longer has flat carts, it’s still known for its low prices.
“WinCo is a cheap grocery store. They buy produce and other groceries directly from farmers and manufacturers in bulk so they get better prices per unit to pass on to shoppers,” says Andrea Woroch, a consumer finance and budgeting expert.
[READ: How Much Should I Spend on Groceries?]
4. Lidl
Value for money: 83% of survey respondents said Lidl offers value for your money.
Locations: 181 stores in 10 East Coast states
Lidl is the second grocery chain on this list to have roots in Germany. The company opened its first store in Ludwigshafen in 1973. Since then, Lidl has expanded into 32 countries, including the U.S. in 2015. The company’s goal has remained the same over time and across borders — to offer high-quality produce at unbelievably low prices.
I live in the Atlanta area and just had a Lidl open up near me. This chain offers great prices basically because they don’t carry every variety and brand of every grocery item. In that sense, the selection is a bit limited, but what they do have is well below traditional national grocers in terms of price,” says David Bakke, a personal finance expert and contributing writer at DollarSanity.
5. Market Basket
Value for money: 81% of survey respondents said Market Basket offers value for your money.
Locations: 93 stores across four East Coast states
Market Basket, a popular discount grocery store in New England, began in 1917 as a single grocery store in Lowell, Massachusetts. Over the years, it has grown, evolved and switched hands but continues to be known for quality food products and affordable prices.
[READ: Cheap Foods to Buy When You’re Broke.]
6. Grocery Outlet
Value for money: 78% of survey respondents said Grocery Outlet offers value for your money.
Locations: 457 stores across eight states
If you live in an area with Grocery Outlet stores, you’ve likely heard its catchy jingle. The company dates back to 1946 when Jim Read opened a store that sold discount military items. That store grew into a chain that brings customers great brands at low prices. Still owned by the Read family, Grocery Outlet now serves more than 1.5 million shoppers per week.
7. Costco
Value for money: 75% of survey respondents said Costco offers value for your money.
Locations: 594 across the U.S.
Costco is a well-known membership warehouse club that started in 1976 as Price Mart in San Diego. Today, it operates in eight countries and is one of the largest retailers in the world. The company’s mission is to bring customers brand-name merchandise at the best possible prices. It specializes in wholesaling products, however, so it’s a good solution only if you’re shopping for grocery items in bulk.
Tips to Maximize Savings
While opting for a cheaper grocery store can certainly help you save, you can maximize your savings by implementing a few other best practices.
“Get the Sunday paper and check your mail — paper coupons still exist. Sign up for the rewards program for any grocer — you’ll typically find savings. Going generic when applicable also helps so you’re not paying extra just for a brand name,” Bakke says.
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These Are the Cheapest Grocery Stores in the U.S. originally appeared on usnews.com
