Over-the-counter healthcare costs can be a burden on the average American consumer. However, a new survey of private brand over-the-counter products aimed at treating various ailments from the common cold to diabetes, can offer significant savings for those consumers.
The research, conducted by the Private Label Manufacturers Association, assembled a market basket which focused on over-the-counter healthcare products, including those essential for treatment of pre-diabetes and diabetes. These products – according to the American Diabetes Association – include blood glucose testers, pulse oximeter, and circulatory socks.
All are available as a national brand, but the store brand alternative can save shoppers more than 40%. For example, according to the survey, the national brand blood glucose test cost $19.99 while the store brand offering was only $9.99. The store brand alternative doesn’t just offer great savings but, in some cases, products like latex gloves, finger protectors, and needle dispensers are solely provided by a store brand.
According to a 2013 study by the American Diabetes Association, individual costs to treat type 1 and type 2 diabetes can add up to hundreds of dollars a year. With 30 million Americans living with diabetes and another 86 million diagnosed as pre-diabetic – according to the Center for Disease Control – the savings with store brands can multiply.
In addition to diabetic supplies, the study also examined other products consumers need to maintain and improve their health, such as nicotine gum for smokers trying to quit which shows a store brand savings of 20%; store brand blood pressure monitors can save consumers 22%; even acne treatments can save consumers 27% if they switch to the store brand offering.
For every category in the study, a leading national brand product was compared to a similar store brand product and prices were adjusted to account for all known discounts, coupons and promotions available for each of the four shopping visits in the study.