Buying discount baby formula is becoming more and more popular. According to an article by Todd Campbell on The Motley Fool, a financial services and information investment company, a growing number of parents are now willing to buy store brand infant formula because they know the quality is just as good as the name brands.
Don’t let the name of this publication “fool” you. The Motley Fool name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Here is an excerpt from today’s article that can be accessed in full online at Fool.com.
Approximately 4 million babies are born each year in the United States. Half of these babies are fed free baby formula supplied by WIC, The Special Supplemental Nutrition Program for Women, Infants, and Children. WIC provides Federal grants to States for supplemental foods, health care referrals, and nutrition education for low-income pregnant, breastfeeding, and non-breastfeeding postpartum women, and to infants and children up to age five who are found to be at nutritional risk.
[The formula referenced in the above image can be found on: www.ParentsChoiceFormula.com. Try the baby formula calculator to learn how much you can save with the store brand Parent’s Choice Formula.]
Store brand infant formulas are not included in the WIC program. This means store brands, which offer nutritionally comparable formulas to leading brands distributed through the WIC program, and name brands are purchased by approximately 2 million parents.
Swapping out branded products for store brands is a trend that's picked up steam since the Great Recession. However, eager-to-please parents have been less willing to make the shift to generic baby formula -- until now…
Of course, Perrigo is no stranger to taking market share from branded counterparts. The company has a long history of winning retail shelf space by offering cheaper versions of over-the-counter, or OTC, drugs such as cough syrup and painkillers.
Industrywide sales of private-label OTCs have grown to represent 35% of all OTC sales being collected across retail, and that share growth has increased Perrigo's revenue from those store-branded alternatives to$933 million in the first fiscal quarter of 2014. That was 21% higher than the same period a year ago.