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Study: Americans waste billions on brand-name products

Created: 08/12/2014 8:36 AM WHEC.com

Americans are wasting billions a year on brand-name products. That's the finding of University of Chicago researchers who say we're spending about $44-billion on brand name products when we can get the generic equivalent for about half the price.
 
While the average household buys brand-name pain killers 26-percent of the time, pharmacists buy brand names only 9-percent of the time.
 
A similar trend turns up at grocery stores.  
 
The average consumer pays for brand-name salt, sugar and baking powder 40-percent of the time, the most informed professional chefs only buy these brands 20-percent of the time.

The study suggests ads are more likely to mislead all but the most knowledgeable consumers, prompting many to buy more expensive brand-named products rather than generic.





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