Generic and store brand products are on the rise. It is not uncommon to find a store brand product sitting right next to a brand name item. The term “generic” reminds me of being a teenager and not having the name brand jeans or eating the popular name brand snacks. My mom is frugal and had to be while raising seven kids.
At one time, buying generic items meant reduced quality and taste. That is not so true any more. Sometimes you will find that a national name brand produces the store brands too. Sometimes it is really the same product made by the same people but in a different wrapper. You will also notice that store brands are much cheaper than name brand products. The biggest reason is that name brand companies pay a huge amount in advertising. Plus they have a recognizable label that people equate to quality.
So why don’t I just by store brand products? While I have no problem buying store brand items, I do find that I can get the name brand products cheaper by using coupons! If you learn to shop the sales, learn the store cycles and clip (and use!) coupons, name brand products will most likely be cheaper.
Take a look at the store circular. Every week stores will run awesome sales on select items. These are called loss leaders. The store wants to draw the customer in with the rock bottom prices on select items. The goal is to get you to spend more on other items while you are picking up the few great deals. That’s where being knowledgeable in prices comes in.
Do the math. If a coupon on a name brand item brings the price below the store brand item, it’s a no brainer. And just because you have a coupon doesn’t mean you have to use it! Sometimes the opposite is true- a store brand or different name brand will be cheaper than using a coupon on a select product. If you are like me and can’t do math in your head, bring a calculator with you (or use fingers and toes!).
In reality, I buy very few store brands now. I am also not brand loyal. I buy whatever brand is the cheapest price after sales, discounts and coupons. However, I also stockpile when items are at their lowest price. That means buying name brands with coupons when stores run the loss leader sales and stocking up.
Do you find generic brands to be cheaper overall than name brand products? I would love to hear your thoughts!
Now it’s your turn! If you are a blogger, write a post about your idea for making dollars out of change. It can be on any topic as long as it has to do with saving money. Please place a link back to Madame Deals in your post. Then come back here and add your post URL to the linky. Please post directly to your post and not your homepage.
If you do not have a blog, we still welcome and encourage your participation! Please leave your thoughts in the in a comment below!