The latest government data shows prices at the grocery store are up nearly 12% in the past year. Cheaper store-brand items can save shoppers money, but many consumers are skeptical when they compare them with well-known name brands.
During a trip through the grocery store, you’ll find plenty of options with well-known national brands on the shelf right next to the store’s version.
A survey from Consumer Reports found 43% of shoppers never choose cheaper store brands. Shoppers only buy them occasionally, even though prices can be up to 72% lower.
"People should give store brands a try. You can save a lot of money,” said Amy Keating, a registered dietician with Consumer Reports.
A Consumer Reports product test found, in many cases, that store brands are just as good as the nation’s top sellers.
CBS Correspondent Michael George sampled 3 peanut butter brands -- one of them a well-known brand, the other two, cheaper store versions. He found in taste and texture, they were nearly identical. He couldn’t identify which one was the name-brand peanut butter.
A similar test involving ketchup led to the same result.
Consumer Reports tested 70 store-brand products and found 76% tasted just as good as name brands and cost much less. Aldi’s Burman’s Ketchup and Target’s Market Pantry Ketchup are priced at just 9 cents a serving compared to 33 cents for the leading brand.
A serving of Walmart’s Great Value Ranch Dressing is 32 cents cheaper than the top national brand.
“We found pretty comparable products, such as in the ketchup, ranch dressing, bread, cereal,” Keating said.
She says it’s worth a try and could make a big difference on your next grocery bill.
You can find a full list of the store brands that passed and failed the Consumer Reports test on its website.