New York (AP) – Walmart, the largest U.S. retailer, is unveiling its new store-label food brand, Bettergoods, marking the company’s most significant launch in two decades. With a focus on providing accessible chef-inspired foods, Walmart aims to attract younger customers who are less loyal to traditional grocery brands.
Bettergoods offers a wide range of products, including frozen foods, dairy items, snacks, beverages, pastas, soups, coffee, and chocolate, all priced under $15, with many products costing less than $5. The brand is structured into three categories: plant-based options, catering to various dietary lifestyles, and “culinary experiences” like creamy corn jalapeno chowder and Italian pasta.
As inflation encourages shoppers to seek more affordable alternatives, private-label brands have seen a surge in popularity. Last year, private brands accounted for nearly 26% of the overall market share in the food and beverage category, showcasing a growing preference for store brands over national name brands.
Walmart’s move follows a trend in the industry, with competitors like Target also enhancing their private-label brands. Target’s Good & Gather line, which debuted in 2019, has expanded to include diverse dishes like chicken tikka masala.
The introduction of Bettergoods complements Walmart’s existing store label food brands, such as Great Value and Equate, offering customers unique products while staying affordable. According to Scott Morris, Walmart’s senior vice president of private brands, younger consumers are increasingly prioritizing quality and value over brand loyalty, driving the demand for private-label options.
In a landscape where store brands are becoming more appealing and high-quality, Walmart’s Bettergoods aims to set itself apart by introducing customers to new trends and flavors. This launch signifies Walmart’s commitment to catering to evolving consumer preferences and solidifying its position in the competitive retail market.