How to Save Money on Groceries
Buy Store Brand Items to Make a Big Difference in Family Budgets
Dec 8, 2008
Although using coupons can save a lot of money on groceries, purchasing store brand merchandise may save even more on family grocery bills. Many people cannot tell the difference between store brand items and name brand items, and in order to save money on groceries, many are turning to these less expensive alternatives.
Store Brand Sales Up: Saving Family Budgets
According to a study done by Neilsen Media Research, 62 percent of consumers find store brands just as good as name brands. According to an article by CNN, the Food Marketing Institute says that the number of consumers willing to buy store brand products has gone up by 60 percent.
When purchasing a name brand grocery product, consumers are paying for the research, development, marketing and advertising costs associated with the brand name. These extra costs raise the prices of name brand food prices, and explain the less popular look of the store brand items. One family showcased on NBC's The Today Show, agreed to try store brand items in a blind test, and were all surprised to find that they did not taste much of a difference in the majority of the items they routinely ate.
More stores are offering better quality store brand items to help consumers with their family budgets, so if you tried them in the past and forgot the idea, it may be time to consider trying it again. If you are concerned about your family accepting the store brand items, consider saving the boxes and containers from the name brand items and switching the contents out for a week. Once your family has eaten the store brand items without complaint, share your secret and enjoy your savings on groceries.
How Much Can a Family Save on Groceries?
According to Tod Marks from Consumer Reports, families can easily save as little as 20% and as much as 50% on their grocery bill by simply switching to store brand products, even without changing their eating or cooking habits. This can make a huge difference in a family budget considering the fact that the average family spends around $100 a week on groceries according to the Food Marketing Institute.
While some store brand grocery items may not meet the standard of the name brand alternative, switching out those products that you do not notice a difference in can save you a lot of money in the long run.
Saving money on groceries does not mean eating less or sacrificing your favorite snacks. Being willing to try a store brand item instead of your name brand favorite may surprise you with the same great taste with a smaller price tag.
Learn more tips on how to save money on your grocery bill.
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