So, you read this title and the words saving money may have stood out to you. I think most of the human population is intrigued by saving money to some degree. Saving money can really help make resources go further no doubt. Let’s explore one of the most valuable money-saving tips that is the easiest to utilize. Saving money by buying store brands.
What is a Store Brand?
First, you probably know that a name brand is a brand that is widely known due to high-level advertising and has been established for some time with a good reputation typically of great quality in that arena of whatever product it is. But what is a store brand? A store brand is a non-advertised brand for many products that have a store’s name on it. Other names it is called is generic or private label.
Is a Store Brand the Same Quality?
One thing we all want is quality for every dollar we spend. You work hard for your money and you deserve quality and enjoy it I am sure; I know I do. But are you wondering are the store brands actually the same quality as a name brand? What about taste if it is a food line? Can you depend on the shampoo to work just as well as your old trusted one? So many questions. I will share with you the truth I have found by a little digging that most shoppers are not aware of. A lot of store brands are the same as the name-brand competitor that you pay more money for. They are simply packaged by the same company in the store brand’s packaging. They will rent the factory lines to put their packaging on the same product but because the item has the less known non advertised price on it you save money at the register because of that. So, most of the time you are indeed getting the same exact product you are used to paying more for. Some stores own their own factories under other brand names and use them for their store brand labels as well. But from time to time you will find some who own their own production company may use different ingredients that are the cheaper version of the same thing. Such as the ingredient vitamin E for example. The cheaper in bulk form of it that companies buy to put in products from health to beauty at your local Target for example would be on the label as Tocopheryl acetate instead of listed as vitamin E. Most of the time the quality is the same but sometimes taste may differ a little and be a tad different if you are using a store brand because of this. I will explain below why a store will not sacrifice quality in the store brands because they want you to buy it and enjoy it in hopes you will buy more. Let me explain.
Why Do Stores Offer You a Store Brand?
Well, they sell the lower-cost store brands in higher volume, so they are actually making money too off of you saving money. Now isn’t that something! It is truly a win, win for everyone.
How Can I Tell if a Store Brand is the Exact Same Product as My Favorite Name Brand?
There are two ways to find this out. Go to the store and pick up your favorite name-brand item. Then go grab the same item it would be equal to in the store brand. The first way is you can look at the ingredients list of each and compare. It will not matter the packaging plant and where it came from as long as the ingredients are the very same and in the exact order you are getting the very same quality. The next way is if you are curious did my Walmart Equate headache medicine come from a name brand company look at the tiny print on the bottom or back to where it was packaged. Sometimes on private label plastic bottles, I have seen a name brand plastic unnoticeable imprint, this was packaged by said name brand! When I discovered that it really got me hunting some of my favorite name brands versus store brands and where they came from and are, they the very same hunt. Over 90 percent of my findings have rendered me proof that they are the very same. By doing this side-by-side comparison of all your health and beauty aid products alone you could save hundreds in a year. If you look and see they are indeed the same, why not switch? It will save you so much throughout a lifetime. I know over the years it has indeed actually saved me thousands of dollars. It all adds up in a year to big savings and remember your local store is banking on you getting addicted to their store brand savings so they get those high-volume sales to make money also. What motivates me is this little motivational trick, you can take your shopping receipt and compare what the items would have been if you had bought the same name brand instead of your store brand and keep a book on the difference. At the end of the month tally up your savings. It will blow your mind!