Everyone is looking to save a few extra pennies in the checkout of the grocery store, and one way to do this on a fairly consistent basis is to buy the store brand instead of brand name products. In October 2010, Consumer Reports found that you can save an average of 30% on your grocery bill just by buying generics instead of store brands!
Yet, despite these savings, shoppers aged 18-39 were least likely to want to try store brands because they were afraid the taste or quality would not be as good as name brands.
In reality, besides the money put into advertising, is there really a difference between Honey Nut Cheerios and Meijer’s Honey & Nut Toasted Oats? Most likely not, but we’ve rounded up a few facts, tips, and tricks to help you be a smarter shopper when deciding between store-brand and brand-name items.
(1)Many brand name companies sell their products to stores to use as store brands. Sara Lee, Reynolds, and McCormick are just a few of these companies.
(2) Though brand name companies may manufacture stores brands, the recipes may not be the same. You can determine how similar two products might be by comparing ingredient labels. Ingredients are listed in decreasing order of amount used in the product. For example: a label that says “Ingredients: tomato, water ...” will have contain more tomatoes than a label that says “Ingredients: water, tomato….”
(3) Brand name does not necessarily mean healthier. For example, some brand names of frozen French fries have much higher sodium, or salt, content than store brands. However, some store brands skimp on healthier, expensive ingredients to cut costs. Check the ingredient list if you're not sure what's in your product!
(4) Not all store brands are created equal. Sometimes stores will create multiple brands of varying quality. Again, looking at ingredient lists can be helpful in determining the quality of products before you buy. A good rule of thumb is to avoid products with lots of artificial flavorings, preservatives, and colorings.
(5)Most brands have a money-back guarantee. If you are trying a new product, keep the receipt so that you can get your money back if you don’t like it.
What’s your take? Do you have a product that you will only buy store brand? Or do you have a favorite store brand item that you think tastes better than the famous equivalent? Let us- and your fellow blog readers-know in the comments section!
References:
http://lifehacker.com/#!5282987/store-brand-vs-name-brandwhen-to-go-cheap
http://www.consumerreports.org/cro/magazine-archive/2010/october/shopping/store-brands-vs-name-brands/overview/index.htm
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