Walmart is launching Bettergoods - its biggest store-label food brand in 20 years to attract budget-conscious consumers - as announced on Tuesday, April 30.
Rather than competing with national brands, Walmart positioned Bettergoods as something "unique" to the company.
Walmart Claims Bettergoods Offers Quality, Trendy Goods at Affordable Prices
Walmart said that Bettergoods would include 300 different products, comprising frozen goods, dairy, snacks, drinks, pasta, soups, coffee, and chocolate. The prices will range from $2 to $15, with most products priced around $5.
According to Fox 8 News, there are three sections for the products: "culinary experiences," "plant-based," and "made without," with the last section catering to various diets.
Customers may choose between same-day delivery or curbside pickup.
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CEO Doug McMillon Acknowledges Rising Private Brand Penetration
Fox Business reports that Walmart CEO Doug McMillon informed investors in a February earnings call that private brand penetration is on the rise in most countries where the company operates, including the United States.
Mary Ellen Lynch, principal of Center Store Solutions at Circana, said in March that private brands are fast overtaking major brands in terms of market share. "This trend is driven by consumers, particularly those with children, as well as millennial and Gen X households without children, who are strategically employing a variety of methods to stretch their dollars amid high inflation."
As evidence, consider the fact that private brands outpaced name brands in terms of market share, which increased from 24.7% in 2022 to 25.5% in 2023, as reported by Circana.
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