Wal-Mart Encourages Women Entrepreneurs with new ‘Women-Owned Businesses Logo’

In 2011, Retail giant Wal-Mart pledged to pool $20 billion of goods from U.S. women-owned businesses by 2016.

In 2011, Retail giant Wal-Mart pledged to pool $20 billion of goods from U.S. women-owned businesses by 2016.

Consumers are more likely to purchase products that make them feel good about the fact that they are making a difference in the world. Retail labels across America’s are designed to appeal consumer’s preferences and values, be it ‘gluten-free’, ‘fair-trade’, ‘locally sourced’ or ‘organically certified’ or ‘made in America’.

Not long from now, shoppers will be able to have their hands on a product that dons a ‘women-owned’ label: a small, spherical symbol that will indicate that the company behind the product is woman-owned.

According to Bloomberg Businessweek reports, the new label which is a brainchild of two non-profit groups and Wal-Mart stores is designed to fetch consumer recognition of products provided by women-owned businesses. The new circular symbol will be clad on everything, right from lingerie to salsa and is most likely to hit the shelves this September.

Prince-Eason says she hopes the logo can inspire female consumers to act on a sense of solidarity.

Prince-Eason says she hopes the logo can inspire female consumers to act on a sense of solidarity.

In 2011, Retail giant Wal-Mart pledged to pool $20 billion of goods from U.S. women-owned businesses by 2016.

“People are looking for reasons to feel good about the company they’re buying from,” says Pamela Prince-Eason, chief executive of the Women’s Business Enterprise National Council.

Women’s Business Enterprise National Council and WEConnect International together, certidy businesses that are seeking contracts reserved for women-owned businesses. Any women-owned businesses that gain the approval from either organization can use the logo.

Lingerie brand Smart & Sexy and West Virginia-based Maggie’s Salsa are some of the women-owned businesses that intend on adopting the new logo. Prince-Eason believes more businesses are to follow: “I think there’s a very strong business case for having the logo on a product,” citing research from Wal-Mart where it was found that 90% of female shoppers seek out goods marketed by women-owned businesses.

It is a common practice amongst certain kinds of consumers to express their values while buying out products. In the past, campaigns that promote local shopping have always proven to be successful. An example of it: American Express says the Small Business.

It’s still a little early to determine whether women-owned logo businesses will snap value-driven consumers. Prince-Eason says she hopes the logo can inspire female consumers to act on a sense of solidarity.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Recent Posts

College sports is multibillion dollar industry in the US

College sports is multibillion dollar industry in the US

According to data analyzed by GOBankingRates, head football coaches, closely followed by basketball coaches, easily rack up seven-figure salaries in the US.
11 hours ago
Top women influencers in finance and wealth management

Top women influencers in finance and wealth management

It is only in the last century or so that women have been publicly acknowledged for their roles as leaders in various fields. Here’s a list of women influencers by Industry Leade
1 day ago
Brian Goldner, who led Hasbro’s transformation into an entertainment giant, passes away at 58

Brian Goldner, who led Hasbro’s transformation into an entertainment giant, passes away at 58

Brian Goldner, the CEO and Chairman of toymaker Hasbro, has died at age 58, the company said Tuesday (Oct. 12).
3 days ago
JPMorgan Chase CEO Jamie Dimon slams Bitcoin as worthless

JPMorgan Chase CEO Jamie Dimon slams Bitcoin as worthless

JPMorgan Chase CEO Jamie Dimon took another potshot at Bitcoin on Monday by calling the cryptocurrency “worthless” likening trading BTC to smoking cigarettes.
4 days ago
Refiner Eneos to buy Japan Renewable Energy for $1.8 billion

Refiner Eneos to buy Japan Renewable Energy for $1.8 billion

Eneos Holdings, Inc., Japan’s biggest refiner, announced Monday it would buy Japan Renewable Energy (JRE) for $1.8 billion to expand its low-carbon businesses.
5 days ago
Amazon, Facebook and Google to cough up a 15% minimum global tax rate

Amazon, Facebook and Google to cough up a 15% minimum global tax rate

More than 130 nations agreed on Friday (Oct. 8) to set a new minimum tax rate for companies around the world. The global corporate tax rate is an attempt to deter tax avoidance by
7 days ago