In a bid to make organic food affordable to customers, nation’s largest retailer Wal-Mart is trying to re-launch its organic food items at up to 25% cheaper rates.
Wal-mart announced on Thursday that it will be re-launching popular line of organic groceries - Wild Oats, starting this month at much affordable prices, inclusive of the brands more than 100 widespread categories – from salsa, pasta sauce to quinoa, chicken broth, canned vegetables and spices. Budget conscious shoppers can save up to 25% or more than that when comparing Wild Oats to other national brand organic products. Wild Oats a pioneer of organic and natural food trends in the late 1980’s but largely disappeared since 2007.
Executive VP of grocery at Wal-mart, Jack Sinclair, said on Thursday that traditionally customers who are interested in organic groceries have to pay more when purchasing such products. Wal-mart is trying to change that by creating a new price position for such products making them easily accessible. According to an internal research, it showed that 91% of shoppers would purchase affordable organic food if Wal-mart made them available at their stores. The move is motivated by Wal-marts ongoing efforts to deliver quality and affordable groceries.
Tom Casey, CEO of Wild Oats said in a statement that by invigorating Wild Oats by bringing more products to more customers, making it available at Wal-mart at affordable prices, the brand starting a nation-wide movement where it is much easier than ever for customers to have access to affordable organic and natural products.
Wal-mart and Wild Oats together will introduce nearly 100 products as a part of the line, by removing the price premium tag associated with natural and organic groceries. Wal-mart is currently spread across the country with more than 4,000 stores selling groceries offering a wide assortment of freshly produced dairy, meat and packaged foods. Wild Oats is currently expanding its assortment in categories including yogurt, produce, deli and bakery.
Organic food sales have increased in the past few years, with more and more consumers becoming conscious about eating of food products infused with chemicals and toxins. According to New Hope Natural Media’s Nutrition Business Journal, sales of organic food products rose 10.8 percent, to $26.3 billion, in 2012. It predicts that organic food consumption market will exceed $60 billion by 2020, with an average annual growth of 10 to 12 percent from now through 2020, outperforming conventional food.