Are Americans wasting billions on brand name products?

By: NBC News
By: NBC News

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% of the time, pharmacists buy brand names only 9% 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% of the time.

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