How far will consumers go to save money?
Would you switch brands of food, cosmetics or toilet paper in order to save money?
A new survey shows just how far people are willing to go to stretch their budget.
It's a national obsession right now, and for good reason -- getting more for your money, or even better, getting more for less money.
One way to do that is to skip the more expensive brand-name products and go with the cheaper alternatives.
For its November issue, Shop Smart magazine surveyed a thousand women to find out where they're willing to cut corners. I spoke to editor-in-chief Lisa Lee Freeman about the results.
"The numbers are showing that people are a lot less brand loyal in these times," she said. "They're really wanting to save money, so they're willing to go with lesser known brands or store brands, generics and that's in the supermarket as well as for bigger ticket items like refrigerators.
"The poll also revealed that we're very influenced by the brands that we grew up with. So people who are sticking with their brands are sticking with brands they grew up with that their mom bought."
The Shop Smart survey shows women are most willing to switch to a store or generic brand of: over--the-counter medications, eggs, milk and cleaning products.
"People say they were willing to scrimp on a lot of things but certain things they weren't willing to switch to save money," said Freeman.
Women are least willing to change brands of pet food; fewer than one in three say they'd switch. They also tend to stick with their favorite brand of cosmetics, personal-care items and toilet paper.
Shop Smart also wanted to find out who makes the call when it comes to buying things, from groceries to appliances.
"Women are the ones making the decisions," Freeman said. "They're the purchasing agents for most families. They're the ones making the decisions on most items and even if they're not the sole person making the decision. They're influencing the decision. They're jointly making the decision and that's electronics, cars, all of that stuff."
Freeman says the survey should be a wake-up call to businesses: ignore female shoppers at your own peril.
A new survey shows just how far people are willing to go to stretch their budget.
It's a national obsession right now, and for good reason -- getting more for your money, or even better, getting more for less money.
One way to do that is to skip the more expensive brand-name products and go with the cheaper alternatives.
For its November issue, Shop Smart magazine surveyed a thousand women to find out where they're willing to cut corners. I spoke to editor-in-chief Lisa Lee Freeman about the results.
"The numbers are showing that people are a lot less brand loyal in these times," she said. "They're really wanting to save money, so they're willing to go with lesser known brands or store brands, generics and that's in the supermarket as well as for bigger ticket items like refrigerators.
"The poll also revealed that we're very influenced by the brands that we grew up with. So people who are sticking with their brands are sticking with brands they grew up with that their mom bought."
The Shop Smart survey shows women are most willing to switch to a store or generic brand of: over--the-counter medications, eggs, milk and cleaning products.
"People say they were willing to scrimp on a lot of things but certain things they weren't willing to switch to save money," said Freeman.
Women are least willing to change brands of pet food; fewer than one in three say they'd switch. They also tend to stick with their favorite brand of cosmetics, personal-care items and toilet paper.
Shop Smart also wanted to find out who makes the call when it comes to buying things, from groceries to appliances.
"Women are the ones making the decisions," Freeman said. "They're the purchasing agents for most families. They're the ones making the decisions on most items and even if they're not the sole person making the decision. They're influencing the decision. They're jointly making the decision and that's electronics, cars, all of that stuff."
Freeman says the survey should be a wake-up call to businesses: ignore female shoppers at your own peril.
