Dive Brief:
- More than 500 U.S. businesses are preparing to pitch their products to Walmart at its Bentonville, Arkansas headquarters on June 28, according to Progressive Grocer.
- This is the fourth year in a row that the retailer has held this event, which draws diverse entrepreneurs, companies and product types for Walmart will choose from.
- In total, about 750 meetings are scheduled to be held with Walmart buyers. Products cut across categories from food and beverage to home décor to apparel.
Dive Insight:
Walmart’s open call to find emerging products and brands to stock in its stores is both a savvy investment for the retail giant as well as a sharp marketing campaign. The initiative not only reinforces Walmart’s commitment to supporting U.S. companies and brands — including the creation of more American jobs — but is a strategy that aids the company in finding unique and innovative products to satisfy growing consumer demand for locally made, small-batch products.
Each year, about 500 businesses are invited to Bentonville to pitch their domestically made products to Walmart. The prize is an opportunity to get their products in front of millions of customers. According to Walmart’s press release, this year's entries range from “secret sauces and pocket-sized hair gel, to photographic mouse pads and bowls designed to keep cereal crisp.”
During the past four years, Walmart’s objectives in hosting the open call have remained consistent. When the company hosted its inaugural event in 2014, former CEO Bill Simon said, “We are opening our doors and making our buyers available to meet with suppliers with one goal in mind: buy more American products. When we buy new products, suppliers hire people to make those products. These American jobs build families and communities, and they help our country thrive.”
The annual event also provides a cost-efficient way for Walmart to see what kind of new thinking and innovative products are hitting the market.
Regional grocer H-E-B also hosts a similar annual event — the “Primo Picks Quest for Texas Best” competition — in which it seeks out the best emerging food and beverage products made in Texas. Local producers attend community meetings with H-E-B representatives with the hopes of getting their products on H-E-B store shelves. Since the competition began in 2014, the grocer has incorporated 135 products into its lineup of private label offerings.
Retailer interest in finding the next great product will continue to mount with increasing consumer demand for unique and innovative offers and shopping experiences. Among this year’s crop of up-and-comers who’ve earned a shot with the world’s biggest retailer are Oceans 97 shrimp and seafood, marinades by Micah Specialty Foods, garlic seasoning by The Blonde Italian, pecan butter from Nuts & Cows, and a savina sauce by C&C Foods. Time will tell which, if any, win coveted space on Walmart store shelves.