As a record 40-year-high inflation has put a major dent into everyone's food budgets, people are clipping coupons, trying out money-saving grocery hacks, and buying generic and private-label foods. However, there's one regional chain in New England that consistently ranks in the top three on lists of best (and least expensive) grocery stores.

Market Basket, which is based in Tewksbury, Massachusetts, started as a "grocerette" in Lowell, Massachusetts, in 1917 and grew into a supermarket in the '50s. The store has excellent prices, and it's not unusual to find name-brand items priced up to 15% less than competitors.

The company can offer such great deals because they pay on time and upfront for their wholesale goods, as opposed to 30-90 days like at other grocers. "This means we get maximum flexibility to negotiate with our suppliers. And we can pass those savings on, however we get them, directly in our pricing," Market Basket CEO Arthur T. Demoulas said to Pymnts in 2016.

Market Basket also doesn't do grocery gimmicks such as loyalty programs, self-checkouts, or online ordering. Instead of investing in the latest technology, Market Basket places a premium on offering high-quality customer service and strictly stocks shelves during the day to keep prices low.