Walmart’s Private-Label Portfolio Gets ‘Bettergoods’
The debut of Bettergoods marks Walmart’s largest private-label launch in the food and beverage category in 20 years, and it's the fastest the retailer has brought a brand to market, the retailer said in a statement.
All Bettergoods items are priced under $15, with most $5 or less. Walmart said it anticipates having 300 products in stores and online by the fall, including frozen, plant-based, dairy, snacks, beverages, pasta, soups, coffee, chocolate and others.
While it maintains the low price point common to private label products, Walmart says Bettergoods joins the few on the market not intended to be a direct alternative to a national brand and that these products are “totally unique” to the retailer.
Bettergoods’ colorful packaging design, brand creative and product assortment indicates a more elevated and “chef-inspired” experience, especially compared to its longstanding Great Value brand.
The brand was curated by its product development team, which collaborated with suppliers across the world to source “quality, trend-forward” ingredients and flavors, according to Walmart. The items fall under three category pillars:
- Culinary experiences: Items with “innovative” recipes, elevated ingredients and trendy offerings, such as a hot honey seasoning for $3 and a line of jar soups, including a creamy corn jalapeno chowder for $4.
- Plant-based: Products feature distinct green branding, such as oatmilk non-dairy frozen desserts for $3.44 a pint and a $4 cheese alternative.
- “Made Without”: Products that cater to different dietary lifestyles, such as gluten free, or made without artificial flavors, colorings or added sugars.
This launch comes as shoppers are continuing to turn to private-label products for a lower price amid lingering economic headwinds and inflationary concerns. Retailers across the board have been focused on beefing up their owned offerings because of this momentum.
Walmart-rival Target recently unveiled plans to launch and expand several owned brands in 2024 to offer a wider range of options across categories, products and prices, such as Dealworthy, which rolled out in February. The retailer also launched its Good & Gather private label, similar to Bettergoods, in 2019 and it has continued to grow ever since.
“Today’s customers expect more from the private brands they purchase – they want affordable, quality products to elevate their overall food experience,” Scott Morris, senior vice president, private brands, food and consumables at Walmart, said. “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.”