In a bid to captivate a younger demographic and cater to evolving consumer preferences, Walmart has rolled out its largest store-label food brand in two decades. Named “Bettergoods,” the brand has made its debut across Walmart stores and the company’s online shopping platform.
Walmart anticipates stocking 300 products under the BetterGoods line by fall, encompassing a diverse array of categories such as frozen foods, dairy items, snacks, beverages, pastas, soups, coffee, and chocolate. The pricing structure is designed to appeal to budget-conscious consumers, with products ranging from under $2 to under $15, with the majority priced under $5.
The Bettergoods range is strategically segmented into three categories: plant-based options featuring desserts crafted with oat milk and non-dairy cheeses, dietary lifestyle products such as gluten-free or free from artificial flavors, colorings, or added sugars, and “culinary experiences” offering items like creamy corn jalapeno chowder and authentic Italian pasta.
This move from the retail giant comes amidst a backdrop of rising inflation, prompting consumers to seek more cost-effective alternatives. Private-label brands have gained traction as a result, accounting for nearly 26% of the overall market share in the food and beverage category last year, according to market research firm Circana.
Walmart’s foray into the Bettergoods brand underscores a broader trend in the industry, where retailers are enhancing the quality and appeal of their store-label offerings to compete with national brands. The launch of Bettergoods aligns with Walmart’s commitment to providing unique, trendsetting products while delivering exceptional value to its customers.
Scott Morris, Walmart’s senior vice president of private brands, food, and consumables, commented, “As an industry, we’re seeing younger customers be more brand agnostic, prioritizing quality and value, and driving increased interest in private brands.”