Some of those generic brands in the grocery store are actually the same product as the brand you're being loyal to, and paying a lot more for.
Taco Tuesday may bring to mind Old El Paso shells or Pace salsa, and Wednesday might still register for many people as Prince spaghetti day. But if you buy private labels instead, you can enjoy the traditions and have more in your grocery budget at week’s end.
An average family of four spends $15,674 a year on food at home, according to the USDA. Subtract spending on nonbranded items like produce and products that truly don’t have a generic equivalent; to make calculations easy, suppose that brings the total to $12,000. 2. Many own-label brands are actually name brands in disguise. Corporations spend piles of money to persuade us that branded products are healthier, tastier, higher in quality and worth more of our food budget.
Nonetheless, journalists have discovered some of these agreements by closely analyzing ingredients or paying close attention to product recalls. Trader Joe’s brand products have been made by Tribe hummus, Wonderful Pistachios & Almonds and Naked Juice smoothies, among others, according to Eater. At Costco, though, says Motley Fool writer David Chang, “prices are typically 20% lower than comparative brands, helping you stay on budget.”
4. Value brands give you more options. In most grocery stores, you have more choices for a product — cherry cola, say, or rotini pasta or toilet paper — than just brand names and a value brand. There is often more than one value brand. In industry parlance, these are called tiers. Most mainstream groceries carry two tiers of value brands: one often made by a brand-name manufacturer or at least one of similar quality — and one that’s more of a knockoff.
Value brands don’t work the same way name brands do, and that includes promotional strategies. “As the owner of the brand, [a retailer is] not working against a contractual agreement with a company on when and how much to promote,” adds Baker. “This provides the retailer the flexibility to promote their brand when market conditions are best for that item.”
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