Report: More informed customers purchase generic brands

Updated:

http://money.cnn.com/2014/07/25/news/economy/generic-brands-smart/index.html?iid=Lead

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.