Private brands deliver big savings
NEW YORK — Consumers heading to the grocery store this summer can garner more than 35% in savings if they buy store brands, according to a pricing study conducted by the Private Label Manufacturers Association.
PLMA said its study tracked tracked pricing for 30 grocery items — both food (i.e., hot dogs, barbecue sauce, etc.) and nonfood items (i.e., charcoal, paper plates, foil, etc.) — over a six-week period at a conventional supermarket. The study results indicated that consumers who opt to purchase the private-label brand for products on the list, versus than the national brand, on average could save $44.04 off their total market basket — a savings of 35.7%. PLMA drew this conclusion after making six separate trips with the total bill costing $123.23 for national brand purchases and $79.19 for private-label purchases.
According to PLMA, private-label items today account for nearly 1-in-4 grocery products sold.
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