People can be such snobs. Nothing better illustrates this than the unwillingness of some folks to try a no-name store brand. Citing “inferior quality”, these grocery aisle stiff-necks put brand names before savings, often spending far more than they need to. (Is this so different than refusing to carrying a handbag that doesn’t sport a designer logo?)
Now I’m not saying that there aren’t some brands that win the quality or flavour test hands down. I only buy Heinz ketchup. I’ve tried others – at other people’s homes – and not really been impressed. But being open to house brands means having extra money to throw into my savings account.
Testing no-name products against brands is also a great way to teach kids about value and savings. Start by comparing labels so you know what you’re buying. From there, go with a “blind” test and have kids rank their “customer satisfaction” with the product. Then compare prices. Is it really worth $1.73 more for the brand name? If the answer is “yes”, stick with the brand. If it’s “no”, make the switch and add the savings to the “no-name savings jar” so you can see how much you’ve saved over six months or a year. (Those savings will give a nice boost to your family holiday fund, won’t they?)
Keep in mind that the no-name offering may not always be least expensive. If the brand-name product goes on sale and you have a coupon (you are using coupons, right?), the brand name could end up costing you less than the no-name version, so keep your eye on the prices. Remember, this isn’t about eschewing brands. This is about saving money. Make sure you’re getting the best deal and save the difference.