Almost every retailer in the United States tries to make sure it sells items that appeal to a certain demographic.
But some brands and stores are a bit broader than others, and they offer a wider range of products for all sorts of groups.
And now, this major retailer just released a new product line aimed at one jaw-dropping demographic.
Walmart releases new store brand
Most millennials want to eat and drink healthier, organic foods, which is why Walmart has decided to launch a brand-new line of products.
The massive retailer just released one of the biggest store brands in 20 years: bettergoods.
Walmart’s new bettergoods line includes products, like oat and almond milk, hot honey, and a range of gluten-free food items.
Not only does the retailer believe the new items will appeal to millennials, but it’s also trying to offer more budget-friendly store brands to boost sales.
As food prices continue to skyrocket, more Americans are looking for store brands to help them save money at the grocery store.
Walmart says its new bettergoods brand focuses on both affordability and food trends together, and features over 300 new products.
Some of the product categories include dairy, snacks, pasta, beverages, frozen foods, soups, coffee, and chocolate.
According to Axios, there are over 20 bettergoods-branded items already listed on the Walmart app, including 14 pints of ice cream at $3.44 each, which includes seven plant-based oat milk options.
Across the board, the prices for the new items range from just under $2 to around $15 on the high end.
Over 70% of the new products are under $5, according to Walmart U.S. Vice President of Private Brands Food, Denise Wright.
Wright claims that the bettergoods products will consist of trend-forward items, plant-based items, and “made without” products that don’t include added sugars, artificial colors, or artificial flavors.
Walmart Senior Vice President of Private Brands, Food, and Consumables, Scott Morris, said the company has seen strong growth for its store brands in recent years, due to inflation and the COVID pandemic.
He said, “As an industry, we’re seeing younger customers be more brand agnostic, prioritizing quality and value and driving increased interest in private brands.”
Store-branded items are gaining ground
According to a March report from Circana, private-label (or store brand) sales in the US have increased 6% year-over-year to reach a whopping $217 billion in 2023.
Gen X and millennial households with no children make up about 36% of all store-brand food and beverage sales, while households with children make up another 35% of sales.
Morris said four Walmart private brands rank among the top 10 consumer-packaged food brands and consumables in the country.
The company says bettergoods is a “fresh take on the culinary experience with elevated taste” and that everything has been “thoughtfully curated” by Walmart’s product development team.
It also wants to bring new and “exciting culinary concepts directly to customers.”
US Political Daily will keep you up-to-date on any developments to this ongoing story.
