In these tough times of rising prices, we need to find ways to save money. One popular method is to buy generic products (also known as store brands) instead of brand name products. Generic brands are now available in almost every retail store and are available for all sorts of products, including food, beverages, cleaning supplies, paper goods, medications and others. You can save an average of 40% with store brands compared to the brand name equivalent. Why are they so much cheaper? A big part of the cost of brand name products is attributed to their marketing, including advertising, promotions and fancy packaging. Store brands don’t have to cover these costs, so they can sell them at a lower price. But is it always worth it? Is the quality of generic products the same as the brand names? One thing to do is experiment – try out generic products to see if you like them better.
The popularity of store brands continues to grow. According to the Integer Group, 77% of shoppers comparison shop between generics and brand names, with 90% of women doing this. 64% of people surveyed agreed that brand names do not mean better quality.
How much can you actually save? Let’s take a look at a typical weekly shopping list and compare costs.
| Brand Name | Store Brand | |
| Milk Gallon | $4.75 | $3.56 |
| Orange Juice | $2.04 | $1.97 |
| Chunk of cheese | $5.69 | $4.21 |
| Baked beans can | $1.58 | $.98 |
| Cola 12-pack | $3.63 | $2.74 |
| Frozen pizza | $3.44 | $2.87 |
| Peanut butter jar | $5.32 | $4.21 |
| Can of soup | $5.98 | $4.12 |
| 5 lb flour bag | $6.32 | $4.78 |
| 2 yogurts | $5.03 | $4.41 |
| Frozen chicken nuggets | $4.50 | $3.93 |
| Frozen waffles | $3.42 | $2.88 |
| Rain Bran cereal | $5.54 | $4.81 |
| Spagetti Sauce | $3.24 | $2.65 |
The total cost for the brand name products is $66.92 compared to $53.12 for store brands, a 26% savings. Here are some of the most popular categories and a comparison of the costs and quality.
Cooking Staples (flour, sugar, spices, pasta, condiments, beans)
Most of these products are manufactured in the same facilities as their brand name counterparts, so the quality will usually be the same. These are products you should always buy generic and can save you over $900 per year.
Frozen Foods, Paper and Cleaning Products
Frozen fruits and vegetables, as well as paper and cleaning products are also good choices for buying generic. The quality of these items is usually on par with brand names and the paper and cleaning products are just as useful. You can save as much as 30% off the full priced items. However, when it comes to laundry detergent 69% of consumers prefer the brand name versions.
Dairy (milk, butter, eggs, cheese, yogurt)
The quality of generic dairy products can vary, depending on what you’re buying. Milk, eggs and butter are usually up to the same quality standards as more expensive brand names – milk is milk and eggs are eggs. 68% of shoppers say they prefer store brand dairy products like these. When it comes to cheese or yogurt, the store brands are not always as good quality as they may contain different ingredients and have different tastes. Make sure to look at the ingredient lists and just try out the store brands to see if you like them compared to the name brand versions.
Over-The-Counter Medications
Here’s where you can really save money by buying generic – up to 70%!. What’s great is that generic medications contain the exact same active ingredients as brand name ones, so they work just as well. When shopping, make sure to compare the ingredients of the two versions to ensure you’re buying the same products.
Other Products
- Olive Oil – avoid generics because there are a lot of fraudulent olive oils on the market and you want to make sure you’re getting high quality
- Soda – usually the generic soda products don’t taste the same, but you might be able to find a store brand that you like
- Juices – store brand fruit juices like orange and lemonade are usually just as good as the brand names, but always try it for yourself
- Cereal – many store brand cereals are made in the same factories as the brand name ones, so it’s worth trying out
- Frozen pizza – while the quality may not always be as good as brand name versions, the savings are usually great. You can “spice up” store brand frozen pizza with your own toppings.
Buying generic is an easy way to cut down your expenses, especially as prices keep going up with inflation. The best approach is to experiment and try out generic versions to see if you like them. And also try out from different stores, as the quality can definitely vary depending on where you buy from. Make sure to read our articles on Why is Trader Joe’s So Cheap and Popular?
