Looking to put your food budget on a diet?People can save 30 percent on average if they purchase store-brand foods versus name-brand goods if they spend $100 a week on groceries, according to a recent price study by Consumer Reports.
If folks continue buying store-brand goods for 12 months, the average consumer can save $1,500 per year.
But, is the store-brand savings worth the sacrifice in quality? In a recent taste-off here, the verdict is that the generic foods are at least as good as their higher-priced competitors.
However, it depends on the product. Store-brand goods like soda, wine and soup don't measure up among those surveyed. Other popular products like ketchup, orange juice, iced tea and baked goods scored well in taste.
Bottom line? If you're looking to put your grocery budget on a diet, buy store-brand foods. Based on the taste-off, it's wise to pick and choose the type of goods you snag on the cheap. Also, most supermarkets offer money-back guarantees on their store-brand products, which gives consumers the option to shop around.
Click here for the lowdown.
