Five examples of name-brand products versus generic that might prove generic to be a good choice.
Today’s post is by Gayl M. Southard, Administrative Consultant for SafeSourcing.
Whether single, married, large or small family, trying to save money is a good feeling. It may be tempting to buy generic to save money, but it is not always the right choice.
Here are five examples of name-brand products versus generic that might prove generic to be a good choice.
1. Cereal is one example of trying to save money. For every name-brand cereal, there generally is a generic version. Often time the generic brand will also have a similar name. The Kellogg’s Corn Flakes brand cereal will cost roughly $2.98, while an 18-ounce generic brand will cost $1.98. That’s a big savings. There is not too much difference in taste.
2. Spices and seasonings are another way to save some money. A name brand bottle of basil costs $2.96 while a generic alternative costs $2.24. That 72 cent savings can add up!
3. Parents want the best for their babies. Maybe spending extra on the brand-named baby food and other baby products may be worth it. Diapers can prove to be a big savings. Buying generic versus a name brand you can save 10 cents per diaper.
4. Medication is also an example where savings can be realized. Take aspirin and ibuprofen as an example. At a drug store 100 (200 mg) tablets cost $9.99 versus a store brand of 100 tablets for $7.29.
5. Gasoline is another example. Commuting to work can be very costly. It can also be an area where buying generic might be a good choice for you. Filling up at a major gasoline company versus the Costco brand can yield significant savings. In California where you might pay $4.79/gallon for regular gas, the Costco brand is approximately $2.85/gallon. For 15 gallons of gas, you could save approximately $29 each time you have to fill your tank. That’s a huge savings!
It’s all personal preference on how you choose to spend your dollars. SafeSourcing can assist you in exploring your procurement solutions for your business or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.
We look forward to your comments.