As part of a new marketing campaign that highlights budgeting – and, ergo, value – supermarket chain Aldi has teamed up with IQ testing body Mensa to create an online test to see how good shoppers are at budgeting and spotting a bargain, alongside a portal to help with budgeting.
In its first ever partnership with a supermarket, Mensa – the world’s largest and oldest IQ society – has created a set of 10 questions that will help UK shoppers understand more about how to save money by becoming more aware of their spending habits.
The move is part of Aldi’s new School of Aldinomics campaign, which is supported by TV money expert, Emmanuel Asuquo. With a decade of financial expertise, Emmanuel has provided tips and advice via the newly launched online portal to help shoppers save up to £600 a year, a figure that will make a huge difference to many as the cost of living continues to rise, with inflation at a 30-year high.
The Aldi initiative was prompted by research that showed when it comes to grocery shopping and budgeting, the nation could do with a little savvy know-how. 45% of us go to the same supermarket we have always visited out of habit, with only 24% of Brits researching which is the cheapest, and even fewer (16%) bothering to use their phones to compare prices whilst in the supermarket.
In trials only a quarter achieved 80% – the pass mark in the free Mensa Savvy Shopping Test – demonstrating a real opportunity for people to improve their everyday financial know-how and save money on their weekly household budgeting.
Despite the results of the Mensa Savvy Shopping Test, it’s not all doom and gloom. Additional research of over 2000 people, commissioned by Aldi, found that on average, respondents claimed they made savings of over £230 every year on big ticket items as a result of their savviness, with 51% using comparison sites and 28% seeking voucher codes and discounts via third party sites.
Asuquo comments: “With just over a quarter of people being deemed ‘financially savvy’ by the Mensa test, it’s clear that there’s work to be done and that’s why I’m working with Aldi to create the School of Aldinomics, to show how simple decisions can make a big difference to everybody’s budget. Whether it’s budgeting advice or simple swaps, I will help the UK apply the Aldinomics way to their everyday personal finances and as a result, save up to £600 a year.”
Cath Hill, Chief Executive Office, Mensa, adds: “We usually devise puzzles to test the logic and speed of thought of people in the UK, so it was both interesting and challenging for us to create a test that could gauge the shopping savviness of the nation. Life is about learning and improving so we hope that this test and the School of Aldinomics will enable the UK to upskill itself and become more Aldinomical.”
