But You Can Get Water at Home for Almost Free!An article on Fortune.com a few days ago announced that Americans are now drinking more bottled water than soda. Why!?
|Americans Are Now Drinking More Bottled Water Than Soda|
At least drinking water is healthier than drinking soda, but it is stunning to me that so many people are paying for water- something you can get for almost free! Bottled water has a high cost not only in the price you pay at the convenience store or vending machine, but also in environmental impact. It takes a lot of energy to transport a heavy product long distances to the store and keep it refrigerated. Even if you recycle the plastic bottle every time, it still takes energy to produce the plastic bottle in the first place and then to melt it down to recycle the plastic, not to mention the energy to haul it to the recycling facility.
This seems like an unbelievable business model- package something that costs almost nothing that people can easily get at home, and sell it with a huge markup. If someone came to me with a business plan like this, I would probably shoot it down. Why would people pay for something they can get at home for almost free? I decided to dig further into this psychological puzzle.
Why People Buy Bottled Water (When They Could Get It For Free)When people buy bottled water, it must makes sense to them in terms of economic value. That 20 oz bottle of water with less that 1 cent worth of water priced at $1.39 seems like a good deal. Why?
- Convenience. If you are thirsty now and don't have anything to drink, a cold bottle of water may be just what you want. But is it really convenient to drive to a convenience store or find a vending machine...
- Soda Replacement. People are replacing $2 soda with something healthier and perhaps less expensive and see it as a good deal relative to soda. But this is a false choice if you are only selecting from what is available on the shelf at the convenience store...
- Spare Change. Many people don't think a few dollars makes any difference to their finances and are not concerned about spending a few extra dollars. But those small daily expenses add up to real money over time...
- Social Factors. Some bottled water purchases are due to the force of habit of buying a drink when you are out and about, or if you are with friends who are all buying a drink then you want to buy one too. But you don't have to be like everyone else, being efficient with money and reducing your impact on the environment is a respectable choice.
- Status Symbol. People feel they deserve bottled water. They are smart, work hard, and make good money, so they should be able to at least get a bottle of water when they feel like it. This is a good example of "lifestyle inflation".
- Perceived Quality. A product that is sold in a bottle in the store must be better than what you can get at home right? Most bottled water is sourced from municipal water supplies- in other words, it is tap water just like you can get at home!
How To Get The Advantages of Bottled Water-- Without the High Price
If you are ready to skip the bottled water purchases and save some money, here are some tips to get the advantages of drinking bottled water, but without paying the high price:
- Bring your own water from home in a reusable bottle.
- Get a water filter at home if needed to improve taste/quality. I use the water filter in my refrigerator.
- How to keep it cold? Freeze your bottle (or freeze a 1/2 full bottle and top it with water before heading out), use a cooler, or put your bottle in the fridge at work.
- Or simply use a water fountain for drinking or filling a cup with free chilled drinking water from the water fountain.
I even added some new items in the Penny Pincher Journal Store to help you save money by drinking your own water from home in refillable bottles for almost free instead of buying expensive bottled water.