Walmart has just announced the launch of a new private brand that could save those eco-friendly shoppers among us hundreds of dollars per year.
Eco-Friendly Savings
Walmart has just set the grocery industry abuzz by announcing its largest food brand launch in twenty years.
Affordable and Accessible
“Bettergoods” is a new line of plant-based products, all about making plant-based eating affordable and accessible. With over 300 products, most of them priced under $5, this is a huge win for people’s budgets and the environment.
Nationwide Availability
Walmart’s Bettergoods brand is set to hit stores nationwide in the coming months. It’s been created to cater to the rising demand for budget-friendly, convenient, and health-conscious food options.
Budget-Friendly and Health-Conscious Options
With over 70% of the items priced below $5, Walmart wants Bettergoods to make plant-based eating more accessible than ever. From frozen foods and dairy alternatives to snacks, beverages, and pantry staples like pasta and soups, there’s a lot of choice within Bettergoods.
Budget-Friendly Choices
For people looking to eat more plant-based meals without breaking the bank, Bettergoods has got you covered.
Examples of Bettergoods Products
Think pints of non-dairy oat milk ice cream for under $4 in flavors like mint chocolate chip and salted caramel. Vegan mozzarella shreds, or mac and cheese in two flavors for an easy and delicious family dinner.
Sustainable Eating
Industry experts claim that Walmart is pushing Bettergoods as more than just a plant-based food brand. They say Walmart is using this brand launch as a step towards a more sustainable future.
Benefits of Plant-Based Diets
According to a University of Oxford study, plant-based diets massively reduce harmful emissions when compared to meat-heavy diets.
An Environmental Winfall
Having more cheap plant-based offerings on show makes Walmart look like they’re eco-conscious and that they care about their customers saving money – a positive spin for the company and any investors, especially as worries about the climate are rapidly spreading among various demographics across the nation.
Customer Expectations
Scott Morris, Walmart’s Senior Vice President of Private Brands, Food, and Consumables, emphasized the brand’s mission: “Today’s customers expect more from the private brands they purchase – they want affordable, quality products to elevate their overall food experience. The launch of Bettergoods delivers on that customer need in a meaningful way.”
Bettergoods’ Mission Statement
According to Morris, “Bettergoods is more than just a new private brand. It’s a commitment to our customers that they can enjoy unique culinary flavors at the incredible value Walmart delivers.”
A New Standard
Organizations like the United Nations ActNow campaign have highlighted in the past how plant-based foods are not only healthier but also better for the planet.
Voting with Wallets
Walmart claims that by choosing Bettergoods, shoppers are essentially voting with their wallets for sustainability – one meal at a time.
Expanding Eco-Friendly Options
Walmart has spent the last few years building up its eco-friendly brands and is now doubling down on affordable sustainability. Their Clean Beauty online shop features over 900 products free from harmful chemicals, most under $10.
Partnership with General Mills
Walmart has also partnered with General Mills to adopt regenerative agriculture practices on over 600,000 acres of U.S. farmland.
Regenerative Agriculture
In practice, this involves a lot less machine farming, pesticide, and chemical fertilizer use, which can damage the soil, and more rotating crops and using manure and compost to provide more nutrients for the soil, improve biodiversity, and ensure it remains fertile.
The Need for Cheaper Alternatives
With inflation on the rise, more people are looking for cheaper alternatives. That’s why private-label brands are booming.
Market Trends
According to market research firm Circana, private brands in food and beverages accounted for nearly 26% of the overall market share last year, up from 24.7% the previous year. In comparison, national brands saw a slight decline, dropping from 75.3% to 74.5% in the same period.
Bettergoods for Budget-Conscious Shoppers
Walmart is hoping that Bettergoods will be a game-changer for anyone looking to eat well on a budget while also doing good for the planet. Its launch of Bettergoods is a response to changing times and customer needs.
Walmart’s Private-Label Vision
By offering a wide range of affordable, plant-based products, Walmart is not just keeping up with trends but attempting to set a new standard for private-label brands. Whether this move will pay off or not, however, remains to be seen.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
