STORE BRANDS, HOUSE AND IN-HOUSE BRANDS, PRIVATE LABELS AND GENERICS
How To Cut Your Household BudgetConsumer guide to frugal living. Discount and money-saving household budget and personal finance strategies. Reduce living and home expenses with no extra work and no change in your lifestyle once you learn all of our simple easy tricks.
By $5000 A Year
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2.0 SUPERMARKET DISCOUNTS: STORE BRANDS, HOUSE AND IN-HOUSE BRANDS, PRIVATE LABELS AND GENERICS
==Total Average Discount = $750 (1/2 store brands)
The simplest, easiest way to save as much as 30% on groceries and 40% on non-food products is to buy quality store brands (also known as house brands, in-house brands, and private labels and private brands). If the average family switched one half of their purchases from name brands to store brands, I estimate the savings to be about $750 a year.
Stores can charge a lot less for their own products because they don't have to pay for advertising, coupons, shelf space, fancy packaging, special promotions or product development.
Through our research, we've also discovered that 40% of national brand food manufacturers sell their famous brands as private labels See end notes in Chapter 17. The only difference is the label. So why pay hundreds of dollars more each year for nothing?
Buying private brands is the best overall strategy for a busy family. Why? First, the savings are significant. Second, it takes no more time; you can go to the same stores where you've always shopped. Third, you don't have to stock up or wait for sales or clip coupons, the products are always in stock and at a good price. Fourth, most private labels are backed by the store and offer a money-back guarantee.
What are the drawbacks? You will need to systemically try private labels. Test them on your family and then get refunds for the ones you don't like. This should take just a few minutes more each week. Once you've tried them all, it will take no extra time. See end notes in Chapter 17.