Wal-Mart Stores, Inc. (NYSE:WMT) entered into its deal with Wild Oats Marketing LLC to bring down the price of organic foods for consumers. The company will again launch its organic food at Wal-Mart Stores Inc this month at more reasonable prices on quality products ranging from chicken broth, pasta sauces, canned vegetables amongst other products.
According to the retailer, customers would be able to save 25% or more on Wild Oats compared to various other brands of organic products.
Research based move from Wal-Mart Stores
Jack Sinclair, executive vice president of grocery at Wal-Mart U.S. said that the customers would have been buying organic products even at a higher price, but that would eventually change.
“We are changing that and creating a new price position for organic groceries that increases access. This is part of our ongoing effort to use our scale to deliver quality, affordable groceries to our customers,” said Sinclair.
In a research conducted by Wal-Mart Stores, Inc. (NYSE:WMT), it was found that around 91% of its customers were interested in buying affordable organic brands at its stores. The research stated that Wild Oats are preferred more by the customers, when they want to have affordable organic foods. Sinclair added that the company is removing premium associated with organic groceries.
More savings for customers
CEO of Wild Oats Tom Casey said that the partnership with Wal-Mart Stores, Inc. (NYSE:WMT) will enable the customers to buy lower priced natural and organic products. He said that the products will be available at Wal-Mart, and will help the customers save more. He added that the company is reinvigorating the brand by launching delicious Wild Oats products to more customers than ever before.
Together Wal-Mart Oats and Wild oats will bring down the price tag of around 100 organic food products. The foods in the list are Wild Oats Organic tomato paste (60z) priced at $0.58 compared with $0.98 for other organic brand. Organic chicken broth is priced around $1.98 compared to $3.47 for other brands. Customers will be able to save more than 40% on both products.
Wal-Mart Stores, Inc. (NYSE:WMT) is the leading retailer with 4,100 stores in the United States recording footfall of around 140 million every week.