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By comparing the costs of 20 staple items at two major supermarkets, it found people could save $4,212 annually thanks to the price gap between more expensive products and cheaper home brand items.
What were the biggest price differences?
Compare the Market estimates Australians are spending around $198.16 on their weekly shop, equivalent to $858.69 each month and $10,304.32 annually.
Switching to home brand products could save you $23 on a 4kg pack of laundry powder, $9.50 on 200g of instant coffee, $7.20 on a one-litre body wash, $6 on a 500ml mouthwash, and $5 on a 750ml multipurpose cleaning spray.
In its August survey, Compare the Market found people could save $4,212 annually by taking advantage of the price gap between more expensive products and cheaper home brand items. Source: SBS News
Kate Browne, head of research at Compare Club, told SBS News home brand quality in Australia is “very good”.
Sometimes, price differences also come down to extras — like whether your tinned tomatoes have a ring-pull lid or not, she said.
Which types of products were cheaper?
“Things like sponges, cleaning wipes, floor cleaner, they all come with a big saving if you are willing to switch.”
The smallest savings were made on home-brand food items.
You could save around 30 cents on frozen peas, 50 cents on butter, and 75 cents on yoghurt.
Why are home brand products cheaper?
“Home brand products are obviously not investing in this — they’re happily sitting on the bottom shelves, out of the way of their more expensive counterparts.”
“We’ve seen a huge shift in the way our supermarkets in Australia retail. Ten or 12 years ago, there were a lot more name brands. Now we’ve seen a huge shift to more and more supermarket-owned brands, and that is purely for profit.”
