Bettergoods is the First New Store Brand from Walmart in 20 Years
Michael Hemsworth — May 1, 2024 — Lifestyle
References: walmart & progressivegrocer
Private label products are continuing to experience a surge in popularity as consumers seek out ways to cut everyday costs, which is seeing brands respond with new options like the Bettergoods range.
The new store brand line from Walmart is the retailer's first new private label in 20 years and is characterized by its elevated profile across a number of product varieties. Consumers can enjoy a new kind of culinary experience from the retailer with elevated tastes, flavors and varieties that are approachable to pick up on store shelves and affordable for many shoppers to purchase.
SVP, Private Brands, Food and Consumables at Walmart Scott Morris spoke on the Bettergoods range saying, "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 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.”
The new store brand line from Walmart is the retailer's first new private label in 20 years and is characterized by its elevated profile across a number of product varieties. Consumers can enjoy a new kind of culinary experience from the retailer with elevated tastes, flavors and varieties that are approachable to pick up on store shelves and affordable for many shoppers to purchase.
SVP, Private Brands, Food and Consumables at Walmart Scott Morris spoke on the Bettergoods range saying, "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 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.”
Trend Themes
1. Elevated Private Label - Brands are responding to the surge in popularity of private label products with new offerings like the Bettergoods range, characterized by elevated profiles and unique culinary flavors.
2. Affordable Culinary Experience - Consumers can now enjoy an affordable yet elevated culinary experience through Walmart's new Bettergoods range, offering elevated tastes and flavors.
3. Quality Private Brands - Bettergoods represents Walmart's commitment to providing quality private label products that elevate the overall food experience for customers at an incredible value.
Industry Implications
1. Retail - The retail industry can capitalize on the trend of elevated private label products to attract cost-conscious consumers seeking unique culinary experiences.
2. Food and Beverage - The food and beverage industry has an opportunity to innovate by offering affordable yet premium private label products like Walmart's Bettergoods range to meet consumer demand for quality and value.
3. Consumer Goods - Consumer goods companies have the chance to disrupt the market by introducing elevated private label options that provide customers with distinctive flavors and variety at reasonable prices.
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