Money blog: Aldi launches latest copycat product - it's much cheaper but what do nutritionists think? (2024)

Top news
  • Aldi launches latest copycat product - it's much cheaper but what do nutritionists think?
  • Morrisons revamping More loyalty scheme amid turnaround effort
  • Big expansion of Tesco's marketplace

Essential reads
  • Money Problem:'I cancelled a booking and they won't give me a refund because I didn't give 14 days' notice - what are my rights?'
  • Is equity release ever a good idea? Industry experts we spoke all seems to agree
  • Supermarkets and restaurants where kids can eat for free or cheap
  • Tax rises Labour could introduce in the autumn budget
  • What you can do if landlord won't fix mould - but it's risky
  • Best of the Money blog - an archive of features

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07:01:10

Aldi launches latest copycat product - but is it what it seems?

Aldi is back with another copycat product, this time launching a dupe for a market leading kefir drink.

The budget supermarket has introduced the drinks under a brand called Beautiful Everyday, which bears a striking resemblance to the Biotful Gut Health's packaging.

However, they're latest dupe is not all that it seems - as the Money team understands the drink has been created in collaboration with Biotful, which means the brand will benefit from any sales.

Which all begs the question - what's the difference, other than Aldi's being much, much cheaper? We have taken a look - and asked some nutritionists for their help...

The branding of the two products is almost identical, with similar colours, logos and motifs.

Aldi's costs £1.99 for a 750ml bottle, compared to £3.50 for a litre of Biotiful's branded equivalent.

Nutritionist Gabriela Peacockexplained that kefir contained probiotic cultures, which help digestion, liver detoxification, hormonal balance, and overall health.

She described it as like a "yoghurt on steroids" and recommended incorporating it into your daily routine.

We asked her to compare the two products based on their ingredients list.

Here's what she said:

"When comparing these two kefir brands, Biotiful and Aldi's own brand, it's important to note that their ingredient lists are very similar. However, the Aldi product uses very low-fat milk.

"I prefer Biotiful because it uses milk with proper fat, which is actually very healthy and important for us.

"So, if I had to choose between the two, I would opt for the Biotiful product for its nutritional benefits."

She also noted that kefir was a dairy product and may not be suitable for those following a vegan or dairy-free diet, or those who are lactose intolerant.

BeanieRobinson, a nutritionist from The Health Space, said there are no stark differences when you compare the two products alongside each other.

"The Aldi one looks like they have used low fat milk, so there are less calories in this Aldi Kefir drink," she said.

"It is unclear which particular bacteria strains they have used, as unlike the Biotiful one, it doesn't mention them.

"But the bottom line is that I would say if budget allows, always go for the organic full fat kefir to get the benefits of the fats and the organic milk."

She advised going for the unflavoured versions of the drinks, as the flavoured ones contain additives.

Dr Jibin He, who is a chartered food scientist at Teesside University, said the ingredients in the Biotful drink show it was a live kefir culture - but suggested a homemade kefir might actually be the best option.

It includes, Bifidobacterium, Lactobacillus Acidophilus, Lactobacillus Casei and Lactobacillus Rhamnosus.

"A quick search reveals that these cultures can also have other probiotic bacteria besides the ones mentioned on the package," he said.

"There may be a difference between people who make kefir traditionally at home versus the commercial version of kefir, which could have different effects."

He explained that research on the benefits of kefir drinks are not yet conclusive, and for probiotics to have a genuine effect, there must be substantially more bacteria that can survive the journey through the stomach to reach the gut.

Aldi has long been associated with dupe products - you can see a few of its own versions of well known brands in the photo below...

It has also partnered with brands in the past.

One of its most recent partnerships was with BrewDog, with the two companies working together in 2020 to create the "Anti Establishment IPA".

06:39:52

'I cancelled a booking and they won't give me a refund because I didn't give 14 days' notice - what are my rights?'

Every Monday we get an expert to answer your Money Problems or consumer disputes. Find out how to submit yours at the bottom of this post. Today's question is...

I booked online for my son to attend a trampoline session. He didn't want to go and I cancelled a day before the event, in the same week that I booked. They won't give me a refund because I didn't give 14 days' notice. Which is impossible - I booked and cancelled in the same week.

Laley

We asked Money blog regular expert Scott Dixon, from The Complaints Resolver, to take a look at this one.

The law

Scott outlines some legislation that applies in this case:

  • S62 Consumer Rights Act 2015has a requirement for contract terms and notices to be fair. An unfair term of a contract is not binding on the consumer. Any contract terms which unfairly tilt the balance in favour of the trader against the consumer is void. Key terms of a contract must be bold, fair, transparent and balanced - they cannot be buried in the small print of T&Cs.
  • The Consumer Protection from Unfair Trading Regulations 2008protects consumers from unfair or misleading trading practices and bans acts and omissions that entice consumers into making a decision they would otherwise not have made.

The consumer dispute experts says: "I take the view that you were misled into making a transactional decision you would not have otherwise made."

What can you do?

Scott says: "You can raise a chargeback with your bank or credit card provider within 120 days of your payment to get a refund. You need to cite 'breach of contract' under the Consumer Rights Act 2015 to enact a chargeback.

"Stress that it was impossible to give 14 days' notice to cancel as the retailer accepted your booking days before you were due to go.

"This constitutes an unfair term of a consumer contract that is not binding on the consumer and voids the contract."

Your bank or credit card provider can reverse the payment and give the retailer an opportunity to present their case.

"Retailers don't like dealing with chargebacks as they are problematic and costly to resolve," Scott says.

Next steps

As a last resort you can take your case to the Small Claims Court in England and Wales - or use the respective legal routes in Scotland and Northern Ireland.

Scott says: "Before you file a claim, send screenshots of the court papers to the company setting your case out and demanding a refund within seven days."

This usually prompts a resolution before you have to actually lodge the claim, Scott says.

"I would also report this firm to Trading Standards," says Scott.

This feature is not intended as financial advice - the aim is to give an overview of the things you should think about. Submit your dilemma or consumer dispute via:

  • The form above - you need to leave a phone number or email address so we can contact you for further details;
  • Email news@skynews.com with the subject line "Money blog";
  • WhatsApp us here.

06:30:31

Morrisons revamping More loyalty scheme amid turnaround effort

Morrisons is hoping to increase the number of transactions involving its free loyalty scheme to 70% as it fights to regain its place in the "big four".

The supermarket, which was first overtaken into fourth spot for market share by discount rival Aldi in 2022, has loyalty sales of around 50%.

According to The Grocer, chief executive Rami Baitiéh has told suppliers about the loyalty expansion, and has said he wants it to move from being a "shield" to a "sword" against competitors.

There will be more member-only offers and additional "hyper-personalised" offers following the introducing of My Points Boosters in April. The scheme allowed customers to choose 10 brands that give them extra points.

06:28:05

Big expansion of Tesco's marketplace

Tesco's version of Amazon, which they're keen not to be labelled their version of Amazon, has more than doubled the number of products available.

Regular readers may remember we reported on this back in June, when CEO Ken Murphy said the supermarket giant was not trying to replicate Amazon and be "all things to all people".

Since then, when 9,000 products were available, the marketplace for third-party sellers has expanded to offer 20,000 products.

They cover categories such as garden, DIY, homeware, toys, sports, baby, beauty and petcare.

06:27:13

Welcome back to the Money blog

The Money blog is back for another week of consumer news, personal finance tipsand all the latest on the economy.

This is how the week is shaping up...

Monday: This week's Money Problemfocuses on a dispute over a cancellation period.

Tuesday: We're continuing a new series to investigate whether some of your favourite sweets and treats from the past will ever return - we've called it Bring It Back and it'll run every Tuesday until we, or you, run out of ideas. We'll also have our regular Tuesday Basically...feature.

Wednesday: We are in London for this week'sCheap Eats, in which Michelin chefs reveal their favourite spots to get a meal for two for less than £40.

Thursday: Savings Championfounder Anna Bowes will be back with her weekly insight into the savings market.

Friday: We'll have everything you need to know about the mortgage market this week with the guys from Moneyfacts.

Running every weekday, Money features a morning markets round-up from theSky News business teamand regular updates and analysis from our business, City and economic correspondents, editors and presenters -Ed Conway,Mark Kleinman,Ian King,Paul KelsoandAdele Robinson.

You'll also be able to streamBusiness Live with Ian King onweekdays at 11.30am and 4.30pm.

Bookmarknews.sky.com/moneyand check back from 8am, and through the day, each weekday.

The Money team is Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young, Ollie Cooper and Mark Wyatt, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

18:28:43

Best of the Money blog - an archive

The Money blog will return on Monday - meantime, why not scroll through some of our best and most popular features below...

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08:27:16

'I'd think 100 times before doing it': Industry insiders on equity release

Equity release refers to taking money out of your home without having to sell the property.You can take the money you release as a lump sum or in several smaller amounts.

There are two ways to do this:

  • Lifetime mortgage: This is the most common type and is a long-term loan secured against the value of your property. You borrowa cash lump sum and then choose to make repayments – -there is no requirement to pay it back monthly and you can just let the interest build up. The loan and the built-up interest must be paid back when the borrower dies or when they need to move into long-term care;
  • Home reversion: You sell a part or all of your home to a provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die and the reversion company then gets a share of the proceeds when your home is sold.

To be eligible for equity release you must:

  • Be at least 55;
  • Own a home in the UK and it must be your main residence;
  • Have to meet a minimum property value – usuallyit's £75,000.

Pros

Richard Dana, founder and CEO of the family mortgage specialist Tembo, says the big benefit of equity release is it allows you to remain in the home you want to live in for the rest of your life without any risk of it getting repossessed.

It also allows you to "get access to cash where there might not be any other options".

"If people want to stay in their home but they want to repay an outstanding mortgage or they need some money for their retirement, they want to boost their retirement funds, that is the main benefit," he says.

Cons

But equity release comes with many pitfalls that need to be taken into consideration.

Mr Dana says while there is "a lot of regulation around it", it is "really expensive - particularly now".

"Unless you have to do it in the current environment, it's very expensive and it means the value of your assets that you might leave to your loved ones is going to go down a lot more. So you are going to be paying a lot more interest than you would have been," he says.

He says people must seek independent advice, speak with family and consider all options.

"Speak to not just an equity release broker but a mortgage broker - look at different options available to you. Depending on what you need the money for, you might be able to find alternative solutions, for example you can downsize."

Caroline Fletcher-Shaw, equity release legal expert atWilkin Chapman Solicitors, says that as well as reducing your estate, and therefore any inheritance you want to leave, it could also impact state benefits, as your income may be higher.

She says equity release "tends to have a higher interest rate than other products".

Property finance expert Dr Alla Koblyakova warns borrowers are "practically losing their houses".

She notes that figures show 38% are using equity release for unsecured debt repayment which means "those people are in need".

"It's a good product to improve their lifestyle but the problem is how you spend the money," Dr Koblyakova says.

"If you are just paying existing debts that means you are losing your house and being charged such high interest rates. So you are having one debt to cover another debt which is expensive.

"I would suggest thinking 100 times before going for that sort of loan. If you can survive without that loan under the current climate I would suggest waiting until at least rates go down because then you would have less losses."

What advice would you give to someone being pressured into equity release?

"I think that would be an awful situation. Reputable companies shouldn't be going out there pressuring people to do equity release," Mrs Fletcher-Shaw says.

"If individuals are approached, they need to have the confidence to take that step back until they've sought professional advice.

"Financial advisers are key - they are going to be the ones that can really help individuals and understand their circumstances and whether an equity release would benefit them."

Dr Koblyakova warns: "As soon as someone is feeling pushed it means there is something wrong because a fair lender would never push anyone. They would explain in detail, trying to advertise the product but definitely not pushing the product."

One more thing to think about - inheritance tax

Mark Ashbridge, co-founder and managing director of Ashbridge Partners, a finance and mortgage advisory firm, says there are possible inheritance tax planning opportunities with equity release.

"Inheritance tax is charged on the value of your assets at death - if you have released equity from your home and handed on the monies to the next generation that survive for the next seven years, then you have taken that out of your estate," he says.

"That can be quite an efficient planning tool because you can remain in your own home and you are not needing to service that interest."

It can also serve as a "means of assessing capital", he says.

However, he notes he has examples where it is more appropriate for the client to remain within the conventional mortgage market.

"Either because they don't want the loan for a long period of time, certainly not until their death, and so it makes sense to avoid the early repayment charges that could come with it."

08:26:29

Huge week for your personal finances - here's what you need to know

On Monday, Rachel Reeves, the new Labour chancellor, said the Treasury had identified a "forecast overspend" for this year of £21.9bn.

As a consequence, she announced cuts worth £5.5bn this year, rising to £8.1bn next year.

The measures impacting your personal finances include:

  • Winter fuel payments will be scrapped for around 10 million pensioners - those not receiving means-tested benefits;
  • A £86,000 lifetime cap on social care costs, due to start from October 2025, has been postponed. There is currently no cap;
  • The manifesto pledge to charge 20% VAT on private school fees will kick in from January 2025;
  • The Labour plan to replace the non-dom tax status will be implemented fromApril 2025;
  • The windfall tax on the profits of energy and gas companies will rise 3%, to 38%, from November;
  • Ms Reeves also hinted at potential tax rises - or "difficult decisions" - in her October budget, though not income tax, national insurance or VAT.

Later in the week she was more explicit on tax.

"I think that we will have to increase taxes in the budget," the chancellor told The News Agents podcast.

That budget will take place on 30 October.

We also learned that:

  • The chancellor had accepted advisory recommendations to give most NHS workers, teachers and members of the armed forces above-inflation pay rises of 5.5-6%;
  • The government has offered striking junior doctors in England a pay deal - over two years - of 22%.

Want to know more? Business correspondent Paul Kelsotook a deeper dive at the Sky News screen...

On Thursday, the Bank of England cut interest rates by a quarter percentage point to 5%.

The Bank's nine-member Monetary Policy Committee (MPC) voted five to four to reduce borrowing costs, bringing to an end the joint-longest plateau for rates since the Bank was granted independence in 1997.

Lower interest rates will instantly be reflected in many savings accounts and floating rate mortgages (variable and tracker), though those selling fixed rate mortgages had long ago reflected the likelihood of lower rates.

The Bank's decision came after the consumer price index rate of inflationdropped to 2%- the MPC's target.

Our business reporter James Sillars looked at how the rate decision affects the money in your pocket here...

And for some further reading, as always this analysis from data and economics editor Ed Conway, in which he looks at what happens next, is well worth five minutes of your time...

08:23:27

'Pensioners should protest': Readers angry at Reeves announcement - but Tories also in firing line

By far the story eliciting most comments from Money blog readers this week was the chancellor's decision to scrap winter fuel payments of between £100 and £300 for pensioners not on means-tested benefits...

Consumer champion Martin Lewis was among the first to criticise the move...

A narrow majority of readers in our inbox were either furious with Labour or very worried about the winter to come (or both)...

This is terrible news for my mum. She's a pensioner with no savings but receives £4 above due to a tiny insurance after my dad died so she's not on pension credit. She struggles. It's not fair. She's lost so much cost of living stuff, now this, because of £4.

Jennyh

So now we defenceless pensioners who cannot strike or belong to a union are being hit where it hurts. Paying for being frugal and sensible and saving for our old age. I cannot believe how the Labour Party could be so vindictive. What a dilemma: eat or keep warm.

O a p

Pensioners should now retaliate to Reeves - protest at all Labour MPs' villages.

Mr cooper

I'm a Labour supporter, I voted for them, also a pensioner but I won't be supporting them any more after what they have done. Shame on you, Labour.

Sacha

This news is so unfair, my husband and I are both in our 70s, worked all our lives and because we have a small private pension we are not entitled to claim benefits. My husband has cancer and I have arthritis, it's not just the winter months we need the heating on.

Susan Molloy

Some readers contrasted the move with pay rises being offered to junior doctors and other public sector workers - which reportedly total £9bn.

How can they possibly justify taking money out of pensioners' pockets for an alleged "black hole" of finances when they give £9bn to junior doctors [editor's note: the £9bn figure is said to be across the public sector, not just doctors]. Surely the rest of the public sector is now within their rights to strike for a huge pay rise?

Sam

These readers, however, seemed to accept Ms Reeves's statement in the Commons that a previously hidden "black hole" in the public finances had been left by the Tories.

Martin, I thought you were the money guru, even you must realise if you can't afford something you don't have it. Had the Tories not lied about the country's finances then we wouldn't have a black hole which you may have been aware of.

Rodders

Difficult choices had to be made and why should anyone get help towards their costs if they don't need it regardless of age! The last government made the mess and it's got to be cleared up, as long as genuine people who need help get it and it's fair most people won't mind!

Graham

I'm one of those that will lose my £200 winter fuel payment. All good things come to an end. I don't blame Rachel Reeves, I blame Jeremy Hunt. It was he that gave the tax cuts that created the £22b black hole. It's the circumstances that's annoying, Hunt used it to try and buy votes.

AliG

The same reader went on...

The media is making great play of the government funding public sector pay rises. Remember all the long years of no public pay rises, 1% only rises. No wonder the independent pay review said 5.5%. I'm retired now but I got paid a lot more than a junior doctor per hour.

AliG

08:11:21

Welcome to Weekend Money

The Money blog is your place for consumer news, economic analysis and everything you need to know about the cost of living - bookmark news.sky.com/money.

It runs with live updates every weekday - while on Saturdays we scale back and offer you a selection of weekend reads.

Check them out this morning and we'll be back on Monday with rolling news and features.

The Money team is Bhvishya Patel, Jess Sharp, Katie Williams, Brad Young, Ollie Cooper and Mark Wyatt, with sub-editing by Isobel Souster. The blog is edited by Jimmy Rice.

Money blog: Aldi launches latest copycat product - it's much cheaper but what do nutritionists think? (2024)
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