Walmart to sell organic foods at lower prices
The company has partnered with Wild Oats to sell a new line of organic foods at 25 percent cheaper than other national brands
The world’s largest retailer, Walmart, announced April 10, 2014, that it is partnering with Wild Oats, a USDA-certified organic brand and former operator of organic foods markets in North America, to expand the selection of organic items in its grocery section and drive down the price of organic foods across the country.
Walmart and Wild Oats will introduce nearly 100 products as part of the line, including common pantry items like chicken broth. Walmart says the items will be priced at 25 percent below nationally branded organic foods.
Consumer demand for organically produced goods continues to show double-digit growth and account for over 4 percent of total U.S. food sales, providing market incentives for U.S. farmers across a broad range of products, according to U.S. Department of Agriculture (USDA) Economic Research Service data. Walmart research conducted in early April found that 91 percent of its shoppers would purchase affordable organic products in its stores.
“We know our customers are interested in purchasing organic products and, traditionally, those customers have had to pay more,” said Jack Sinclair, executive vice president of grocery at Walmart U.S. in a company press release. “We are changing that and creating a new price position for organic groceries that increases access.”
In addition to growing its organic product offering through Wild Oats, the retailer plans to expand its assortment in categories including yogurt, produce, and deli.