Not many years ago I was like many other people when it came to buying store brand products. I would look at them and think to myself, these cannot have the same quality as a national brand product. I got to looking at these products repeatedly and then my wife and I decided to try a few of them. Soon we were buying more and more of them. The main reason that we did was to save money. I think that is what is on the minds of many people. Younger people trying to make a go of it or senior citizens trying to live on Social Security should think of putting store brand products into their shopping cart.
I got to thinking how the store can sell quality products cheaper. After doing some research, I found out a Great Value jar of peanut butter is made by Peter Pan and a jar of Great Value applesauce is made by Musselman’s. Store brand products are made by national brand manufacturers.
How can a store sell these items cheaper? A store brand product most likely comes from one producer to the store. A name brand controls manufacturing, distribution and retailing. Store brands don’t have to pay research, development, and advertising costs that the national brands do. Store brand costs are estimated to be about 25% less than national brands. Great Value is the Walmart brand, they sell about $27 billion in Great Value products annually.
Store brands are often equal in quality to the national brand. Remember when buying milk, there are no name-brand cows. Store baby formula must meet the same safety standards and nutritional guidelines as national brand and are made with the same basic ingredients. A recent study from the Private Label Manufacturers Association found that consumers save an average of 33% on the total grocery bill by buying store brands. I realize that people will not buy just store brands, but just by buying quite a few store brands you can save quite a lot of money, and that can add up to a sizeable sum over the course of a year.
Store brands aren’t just limited to Walmart. Many stores such as Target, Food Lion, Harris Teeter and Lowes Foods all sell their own store brands. Also, store brands are not just limited to food. Other products such as paper towels, toilet paper, aluminum foil, trash bags and light bulbs can be purchased using store brands.
Some of my research came from the websites.
Check out how much money you can save and start spending that saved money on yourself.
Larry Fish shares the insights of a man who has gained the wisdom that comes with a long life. He has been married 50 years to a woman from the Philippines. He has two grown children, five grandkids, and one great-granddaughter. He lives in Raleigh, close to the airport.