Walmart has launched a new private label food brand with most of its products costing less than $5.
The brand, called bettergoods, will be available in Walmart stores and online with 300 products by this fall, Walmart announced Tuesday.
Products will include frozen foods, dairy, snacks, drinks, pastas, soups, coffee and chocolate, among others, the retailer said.
It will be Walmart’s largest food brand in 20 years in terms of item lineup, as it seeks to attract younger customers who are not brand loyal and want chef-inspired foods and at more affordable prices.
“Today’s customers expect more from the private brands they buy: they want affordable, quality products that enhance their overall food experience. The launch of bettergoods significantly addresses customer needs,” said Scott Morris, senior vice president of private brands, food and consumables at Walmart.
Walmart launched a new private label food brand with most of its products costing less than $5
Products will include frozen foods, dairy, snacks, beverages, pastas, soups and coffee.
The brand, called bettergoods, will be available in Walmart stores and online with 300 products by this fall.
“Bettergoods is much more than just a new private label. It is a commitment to our customers that they can enjoy unique culinary flavors at the incredible value that Walmart offers.
Prices range from under $2 to under $15, with most products available for under $5.
The launch by the country’s largest retailer comes as inflation has pushed shoppers to seek cheaper alternatives, increasing the popularity of private labels.
“As an industry, we are seeing younger customers being more brand agnostic, prioritizing quality and value, and driving increased interest in private labels,” Morris said.
Private labels in the food and beverage sector accounted for almost 26 percent of the overall market share of the number of units sold in this category last year, up from 24.7 percent the year before, according to market research firm Circana.
This compares to 74.5% for national brands last year, up from 75.3% in 2022.
Walmart’s competitors, including Target, have also expanded their store labels in the grocery space.
Last week, Walmart announced that it was continuing to remove self-checkouts from its stores in what it said was an effort to improve the “in-store experience” for customers.
Products will include frozen foods, dairy, snacks, beverages, pastas, soups, coffee and chocolate, among others. Prices range from under $2 to under $15, with most products available for under $5.
At two stores — in Shrewsbury, Mo., and Cleveland, Ohio — the retailer said it will replace kiosks with staffed checkouts, which “will give our associates the opportunity to provide customer-friendly service more personalized and more effective.
In reality, many stores are abandoning self-checkouts because they are particularly vulnerable to theft, a problem that retailers say has plagued their businesses in recent years and forced them to close their stores entirely.
“Most of the withdrawal of self-checkouts is due to retailers’ concerns about theft,” Neil Saunders, managing director of GlobalData, told DailyMail.com.
The turnaround by the world’s largest retailer could be a landmark moment in what appears to have been a years-long failed self-checkout experiment.
dailymail us
