Walmart Launches New Grocery Label Bettergoods, Aims to Cater to Trendy Dietary Choices
In a bid to attract higher-income shoppers and keep up with the changing trends in the grocery industry, Walmart announced the launch of its new private food brand called Bettergoods. This marks the largest private food brand introduced by the retail giant in the past two decades.
Bettergoods will offer a range of 300 new products tailored to cater to vegan, gluten-free, and adventurous dietary choices. The brand will focus on three key areas: plant-based goods, culinary flair foods, and “made without” foods like gluten-free products. Prices for most Bettergoods items will range from $2 to $15, making them affordable for a wide range of consumers.
Walmart aims to differentiate Bettergoods from its existing Great Value line by offering unique and innovative products that are exclusive to the brand. This move comes as Walmart looks to retain shoppers who have turned to the retailer for affordable groceries amidst rising inflation.
Scott Morris, senior vice president of private brands, food, and consumables for Walmart U.S., stated that Bettergoods is expected to appeal to higher-income, younger shoppers who are looking for elevated culinary experiences and healthier options. The launch of Bettergoods comes at a time when food prices have been on the rise, with categories like meat, poultry, fish, and eggs seeing an increase in prices.
In addition to the launch of Bettergoods, Walmart also announced the closure of its U.S. health clinics under the Walmart Health brand. The company cited low profits and escalating operating costs as the reasons behind the decision to shut down the healthcare business.