Walmart launched a new discount private label brand on Tuesday called Bettergoods that features around 300 grocery products ranging from $2 to $15.
The Bettergoods line includes a wide range of products such as frozen, dairy, snacks, beverages, pasta, soups, coffee, chocolate, and more, the company said in a press release.
Walmart said it is the largest private label brand the company has released in two decades “and the fastest food private brand Walmart has brought to market, highlighting the speed with which Walmart can brain trend and innovation to market at scale.”
“Today’s customers expect more from the private brands they purchase – they want affordable, quality products to elevate their overall food experience. The launch of Bettergoods delivers on that customer need in a meaningful way,” said Scott Morris, Walmart’s senior vice president of private brands, food, and consumables in a statement.
The company emphasized the affordability of the brand, noting that most Bettergoods products cost less than $5.
Bettergoods products typically fall within three categories, the company said — culinary, plant-based, and made without.
The culinary category includes items like seasonings for around $3, specialty soups like Creamy Corn Jalapeno Chowder for under $4, and sauces like its Bronze Cut Pasta for $1.97.
The plant-based category includes items like oatmilk frozen desserts and plant-based cheese alternatives.
Bettergoods also features a “made without” category that caters to shoppers with dietary restrictions, featuring gluten-free and antibiotic-free products and items made without artificial flavors, colorings, and added sugars.
Walmart is by far the biggest player in private label grocery products, according to a study released in July of 2023 by data analytics firm Numerator. Its private label trends report showed Walmart maintained 26.7% of the private label market in its brick-and-mortar locations and 28.2% through its omnichannel sales.
Numerator put Walmart even further ahead in ecommerce sales, where the retail giant maintained 42.6% market share in private label sales.
By comparison, Costco followed Walmart with a private label market share of 16.4% at brick-and-mortar locations. Kroger’s was third with 8.7% at physical stores.
The release of Bettergoods could be in response to the fast-growing Smart Way budget private label brand launched by Kroger in 2022.
While Walmart maintained a 72% market penetration rate, according to Numerator, Kroger’s Smart Way brand was the fastest growing in the market.
Smart Way featured about 150 products when it was launched in September of 2022. “As our customers face an ongoing inflationary environment, we know they are looking to stretch their dollars further than ever before,” Stuart Aitken, Kroger SVP and chief merchant and marketing officer, said at the time of the Smart Way launch.
