Walmart said Tuesday it is launching its biggest store-label food brand in 20 years in terms of its breadth of items, as it seeks to appeal to younger customers who are not brand loyal and want chef-inspired foods that are more affordably priced.
Private brands in food and beverage accounted for nearly 26% of the overall market share in the number of units in that category sold last year, up from 24.7% during the previous year.
Walmart's rivals, including Target, have also been expanding their store labels in food.
As an industry, we're seeing younger customers be more brand agnostic, prioritizing quality and value, and driving increased interest in private brands," said Scott Morris, Walmart's senior vice president of private brands, food and consumables.
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