Here's what grocery shoppers are willing to spend a little more cash for
NEW YORK - From making in-depth lists to impulse buying, we all have our strategies when it comes to food shopping. But how do your spending habits stack up to other customers nationwide?
According to Purdue University's latest consumer food insights report, Americans are more apt to shell out big bucks for some brand name products, compared their generic counterparts.
"We ask consumers what they think they're getting for their money. Is it nutrition? Is it better quality ingredients?" Explained Purdue agricultural economics professor Joseph Balagtas. "Consumers in our survey told us, really, it comes down to taste."
The study found this is especially true when it comes to drinks.
"Most consumers tell us that, in the beverage aisle, name brands are more tasty. Coke and Pepsi are more tasty than their generic alternatives," Balagtas continued. "We also find that two-thirds of consumers are willing to pay as much as a 30-percent premium for those name brand products."
File: Walmart store in Doral, Florida. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images)
On the other hand, shoppers could be more likely to buy generic snack foods over brand name options if they see a larger discount.
Shoppers seem to be less picky about brand names when buying fresh produce and meat.
"Consumers, when they're shopping, can see the quality of the meat, can see the quality, smell the quality of the fresh fruits and vegetables," Balagtas explained. "And they don't, they aren't as reliant on name brands as a signal of taste or quality."
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And while prices for many foods still remain high, the study found the overall number of homes identifying as "food insecure" fell to around 13 percent last month after climbing to 16 percent during the summer.