Introducing Walmart’s New Grocery Brand: Bettergoods
In a bid to retain the shoppers it has attracted during a period of high inflation, Walmart is debuting a new grocery brand called Bettergoods. This private label line will offer more trend-and chef-driven foods priced at less than $5, catering to shoppers looking for “elevated culinary, inspirational types of items” and healthier options like plant-based products.
The decision to launch Bettergoods was driven by feedback from consumers who expressed a desire for more unique and health-conscious food offerings. Scott Morris, senior vice president of private brands, food, and consumables for Walmart U.S., explained that the brand was designed to appeal to all customers, but particularly to younger and more affluent shoppers who have frequented Walmart stores in recent years.
With nearly 60% of its U.S. sales coming from its grocery business, Walmart is already the country’s largest grocer by revenue. The addition of Bettergoods aims to further bolster its position in the market and attract a wider range of customers.
Like many other grocers, Walmart has recognized the growing demand for private-label products as consumers seek new flavors and lower prices. The impact of the Covid-19 pandemic, alongside rising inflation, has led shoppers to explore store brands as an alternative to national brands. Retailers have responded by introducing more unique and innovative private-label options to meet changing consumer preferences.
Walmart’s Bettergoods brand will offer a variety of products across categories such as frozen foods, dairy, and snacks, with prices ranging from under $2 to under $15. The line will feature items with culinary flair, plant-based options, and products free from certain ingredients. Bettergoods will complement Walmart’s existing private brands in the grocery department, including the popular Great Value brand.
As the grocery landscape continues to evolve, Walmart’s strategic move to introduce Bettergoods demonstrates its commitment to providing customers with affordable, high-quality food options that cater to their evolving preferences. Stay tuned for more updates on Walmart’s innovative grocery offerings here at Extreme Investor Network.
