Many buying generics over name brands
In an economy where consumers are trying to stretch every dollar, many people are changing their buying habits. Some say buying generic makes a little more sense.
“Price per pound, I am just going to go with generic and in today’s market I can’t really afford to buy name brand things,” said Nora Schmid.
The price tag explains it all. Generic is almost always cheaper than name brand alternatives.
In a side-by-side comparison, products like store brand acid reliever came in dollars less than the name brand.
But price isn’t everything for customers. “I look for name brands that I am familiar with,” said Margaret Barron.
While brand name is a big factor in the price, another thing that drives the cost of name brand products up is the fancy packaging.
What you might not know, is that often times the same company that makes a name brand product, may also have a partnership to package a generic version.
But consumers are beginning to catch on. “If you even look at the ingredients, sometimes word for word it’s exactly the same, but about two bucks cheaper,” said Joleigh Lewis.
No matter the price, some say there is a difference.
“Maybe it’s the quality of the ingredients or something. It’s not the packaging, I could care less about the packaging I just think it’s strictly flavor,” said Clare Wadsworth who prefers name brands.
Greg Matheson agrees. “When it comes to flavor, I don’t skimp on price.”
UNCW business professor Jonathan Rowe says to make an educated decision, pay attention to the label. “There might be some differences between generics and brand names and so consumers need to be aware of some of the decisions that they are making if they are choosing generic because of a cost reason, it might be a perfect substitute but you want to make sure.”
Both Walgreens and Harris Teeter said they have seen a spike in sales for their generic brands for the past few months.
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