(NewsNation) — Walmart announced Tuesday it’s launching a new store-label food brand called “Bettergoods.”
This is the company’s largest private brand food launch in 20 years, according to a news release.
“Today’s customers expect more from the private brands they purchase — they want affordable, quality products to elevate their overall food experience,” Scott Morris, senior vice president of private brands, food and consumables for Walmart said in a statement. “The launch of bettergoods delivers on that customer need in a meaningful way.”
Bettergoods has around 300 products under its name, including frozen foods, dairy, snacks, beverages, pastas, soups, coffee and chocolate. There are plant-based options, including Oatmilk Non-Dairy Frozen Desserts, gluten-free choices, and foods made without artificial flavors, colorings or added sugars as well.
Items have a price range of under $2 to under $15, Walmart said, although most products will be available for under $5, including Hot Honey Seasoning at under $3 and a line of jar soups like Creamy Corn Jalapeno Chowder going for under $4.
Target, one of Walmart’s main rivals, has also expanded its store labels. It said in January that it reformulated its “up&up” everyday essentials brand to meet higher quality standards, while also adding “hundreds of new products,” such as pet items and food storage.
This comes as inflation in recent years has driven shoppers to look for less-expensive alternatives to everyday staples. Private brands in food and beverage, the Associated Press reported, accounted for nearly 26% of the overall market share in the number of units in that category sold last year. In the previous year, they made up 24.7%, per research from the firm Circana. National brands, in comparison, were at 74.5% of the market share in 2023. They had been 75.3% in 2022.
However, even as Walmart starts this new food line, it also revealed Tuesday that it is closing all of its 51 health centers, which are located across five states.
“Through our experience managing Walmart Health centers and Walmart Health Virtual Care, we determined there is not a sustainable business model for us to continue,” Walmart said in a statement.
The Associated Press contributed to this report.