More Shoppers Buy Generic To Save Money

More Shoppers Buy Generic To Save Money

Our “Team Generic” tee-shirt gets a lot of wear. We sport it when buying makeup at the drugstore, medication at the pharmacy, and groceries at the supermarket. Thank goodness we’re not the only ones who believe in the cost-cutting, value-getting principles of buying generic over name brand or (gasp!) designer products.

We’re Not The Only Savvy Shoppers

We’re not just guessing that our team is growing by day: Consumer Reports has released a study that demonstrates Americans’ openness to store brands. Over 80% of shoppers went for the store brands over the past year, and over 90% of those shoppers insist they’ll continue buying their beloved house brands even if (when?) the recession eases up. And we’re glad to hear it, since packing our pantry with store brands can save us an average of 30% on our grocery bill.

Where Does The Extra Cost Come From?

For all the wear our favorite tee gets when roaming the aisles for supermarket bargains—remember, the most expensive options are at eye level, because those brands pay for prime shelf space!—we’re not immune to marketing. We love the themed Coke cans and the bright boxes of sugar cereals, but we hate looking at our receipt and realizing how much we’re paying for packaging. And that’s what it comes down to: How much extra should we pay for simple familiarity?

Tell us in the comments: What’s your favorite product to buy generic?

Learnvest

Financial planning made simple.

Get your free financial assessment.

Related Tags

Get the latest in your inbox.

Subscription failed!

You're Now Subscribed!