Walmart has announced the launch of its most extensive private food brand in decades, “Bettergoods”. Bettergoods has wide range of food items, spanning frozen foods, dairy products, beverages, snacks, soups, pasta, and coffee, among others. With approximately 300 items in its repertoire.
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Walmart’s Bettergoods brand has 300 items spanning various categories including frozen foods, dairy products, beverages, snacks, soups, pasta, and coffee.
The pricing strategy for Bettergoods products is designed to appeal to budget-conscious consumers, with items ranging from under $2 to under $15, with the majority priced below $5.
The decision to introduce Bettergoods stems from an acute understanding of shifting consumer preferences towards elevated culinary experiences and healthier food options, including plant-based products.
Scott Morris, Senior Vice President of Private Brands, Food, and Consumables at Walmart U.S., addresses that Bettergoods was conceptualized in response to consumer demand for “elevated culinary, inspirational types of items” and a desire for healthier alternatives.
Walmart is keen to position Bettergoods as distinct from its existing private labels, Great Value and Equate.
Unlike these lower-cost alternatives to national brand products, Bettergoods is positioned as a unique offering exclusive to Walmart.
The brand plans to stand out by offering specialty salts, seasonings, and innovative products such as Hot Honey Seasoning and Creamy Corn Jalapeno Chowder.
According to data from Circana, private brands have seen an uptick in market share, rising from 24.7% in 2022 to 25.5% in recent years.
Walmart’s move follows closely on the heels of Target’s introduction of its own low-cost brand, “dealworthy,” indicating heightened competition in the retail sector.
Bettergoods’ product lineup is structured around three distinct category pillars, culinary experiences, plant-based offerings, and “Made Without” options catering to various dietary preferences and restrictions.
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One of the aspects of Bettergoods is its pricing strategy. With products priced between $2 and $15, and a huge portion falling under the $5 mark, Walmart is targeting cost-conscious consumers.
According to Circana data, private brands have been steadily gaining market share, rising from 24.7% in 2022 to 25.5% in the previous year.
This trend is driven by various factors, including consumers’ desire to stretch their dollars amid high inflation.
Walmart’s decision to introduce Bettergoods is informed by consumer preferences. Shoppers, especially younger and more affluent demographics, are increasingly drawn to innovative, trend-driven food offerings.
Bettergoods plans to cater to these preferences by offering culinary experiences including specialty salts, seasonings, and plant-based options.
Similar initiatives by competitors like Target, which recently launched its own low-cost brand, “dealworthy.” As retailers vie for market share.
The rise of low-priced grocery chains like Aldi, Lidl, and Trader Joe’s has reshaped consumer expectations and preferences.
Traditional retailers like Walmart are revamping their private label offerings to attract customers seeking affordability without compromising on quality.
With nearly 60% of its U.S. sales coming from groceries, Walmart is doubling down on this key revenue driver.
By expanding its private label portfolio, Walmart plans to enhance customer loyalty and drive store and online traffic.
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