How much could own brands save you?
It’s almost Spring, and actually things are looking good. Interest rates are still low, as is inflation, fuelled by lower petrol prices as well as supermarket price wars, meaning that many of us are enjoying greater spending power than we are used to. However, that doesn’t mean that thrifty habits learned during the leaner times can’t set us in good stead and keep us saving money. In fact, those who switched to supermarket own-brand products could be saving over £1,200 a year.
New research from vouchercodespro found that switching from branded goods to supermarket own-brand goods delivered weekly savings of £23.45 on average, which adds up to a not-to-be-sniffed at annual saving of £1,219.40. In fact, over 60% of the 1,782 UK adults surveyed had decided to make the switch supermarkets’ own-brand products, while 28% stuck with their branded goods. A savvy 11% of respondents said they had always bought the retailer’s own-brand products, and have therefore been saving since day 1.
But remember, it doesn’t have to be all or nothing. Despite claims that branded essentials are now “few and far between”, almost half of people who made the switch often still buy a good number of branded products. Around a third (34%) of own-brand shoppers said that they buy five branded products each week, with another 14% chucking more than 10 branded goods in their trollies each week. Only 9 per cent said they do not buy any branded products.
So if you want to switch, but haven’t dared take the plunge, or if you want to know where else to trim your shopping budget, where can you make the biggest savings by turning to own brands? According to the research, shoppers said that they saved most money on frozen food (19%) canned goods(16%), dairy products (13%), cleaning products (11%) and cereal (8%).