Report: More informed customers purchase generic brands
NEW YORK - Do you purchase the less expensive store brands?? According to a report from CNN Money, the most informed consumers usually buy generic products. A new paper from economists from Tilburg University in the Netherlands and the University of Chicago found Americans waste about $44 billion a year on name brands. The report stated Americans could buy the same products if they switched to the less expensive store brands. CNN Money provided the following example. A 100-tablet package of 325 mg Bayer Aspirin costs $6.29 at CVS. The CVS brand is $2.28 when at regular price and drops to $1.14 on sale. Read more on the CNN Money report.