Walmart announced on Tuesday the launch of its largest store-label food brand in 20 years, aiming to attract younger customers who prioritize quality and value over brand loyalty. The brand, named Bettergoods, is now available in Walmart stores and online, with 300 products expected to be on shelves by fall. These products, including frozen foods, dairy, snacks, beverages, pasta, soups, coffee, and chocolate, are priced between under $2 and under $15, with most items priced below $5.
The move comes as inflation drives consumers to seek more affordable options, leading to increased popularity of private-label brands. According to market research firm Circana, private brands in food and beverage accounted for nearly 26% of the overall market share in units sold last year, up from 24.7% the previous year. This is in contrast to national brands, which accounted for 74.5% of the market share last year, down from 75.3% in 2022.
Walmart’s competitors, including Target, are also expanding their store labels in food. Walmart’s senior vice president of private brands, food, and consumables, Scott Morris, commented, “As an industry, we’re seeing younger customers be more brand agnostic, prioritizing quality and value, and driving increased interest in private brands.”
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