Lose Your Brand Loyalty
June 2, 2018
We may earn money from the companies mentioned in this post.
Okay, maybe not for everything. The idea is to shop around for better prices. Brand loyalty is defined as having a positive feeling toward a brand, building a commitment to them through shopping behaviors, and making multiple purchases with that same brand over time.
Several years ago, this was one of the hardest habits for me to break. I bought brand name everything because it’s better, right? And then my husband opened my eyes to off-brand products.
I was buying cotton swabs, body wash, lotion, sunscreen, laundry detergent, dish soap, paper towels, disinfectant wipes. The list goes on. Everything was brand name. Some of these were products that I grew up with and some of them I tried based on a commercial or magazine ad.
Now, maybe you have coupons for those brand name products and maybe you buy in bulk and your bulk retailer carries that brand name product for less. The savings can still add up by comparing the prices along with the quantity against other products. A coupon or buying in bulk doesn’t always equate to the best deal.
A few years back, I had an a-ha moment when Equate, a Walmart off-brand sunscreen, appeared in one of my magazines as one of the best sunscreens you can buy for your money. This year it is featured in Allure Magazine as one of the top 5 best sunscreens for summer based on Consumer Reports.
So what is the difference between a well-recognized brand and a generic brand? When it comes to medicine, it’s the price. According to an article by AAM (Association for Accessible Medicines), the FDA requires that a generic medicine have the same performance and quality as their brand name counterpart. They go on to point out that generic medicines have been a savings of $1.67 trillion for Americans in the last decade.
A CBS writer talked about the generic vs. brand name topic in 2014. He said he usually goes for the generic if it is a regulated commodity listing out over-the-counter medication, staple food products, gasoline, electronic cabling, and paper products.
You may be wondering what is regulated by the FDA. I found an updated list here. Products include baby formula, dietary supplements, and cosmetics to name a few.
The next time your itching for some savings, check out your store’s generic products and compare them with your regular products to see if the savings add up.
Do you save by purchasing generic products or is there is a product that you absolutely can’t buy generic? Feel free to leave me a comment.
Stay tuned for more savings tips.