Wal-Mart Stores, Inc. (NYSE: WMT), the world’s largest retailer, announced its partnership with Wild Oats Marketing, LLC, the second largest operator of natural and organic food chains in North America to lower the prices of organic foods for consumers.
Wild Oats will re-launch its organic foods at Wal-Mart Stores, Inc. (NYSE:WMT) this month with more affordable prices on quality products covering a wide variety of categories from chicken broth, pasta sauces, canned vegetables and many more. The retail giant said customers will save 25% or more on Wild Oats brands compared with other national brands of organic products.
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Removing premium price on organic foods
Jack Sinclair, executive vice president of grocery at Walmart U.S. said the management of Wal-Mart Stores, Inc. (NYSE:WMT) is aware that customers are interested in buying organic products, and traditionally are paying more, but that will change.
“We are changing that and creating a new price position for organic groceries that increases access. This is part of our ongoing effort to use our scale to deliver quality, affordable groceries to our customers,” said Sinclair.
Wal-Mart Stores Inc. (NYSE:WMT) found in its internal research that 91% of its customers will consider purchasing affordable organic brands at its stores. The retail giant said the prices of Wild Oats meet customers’ demand for more affordable organic foods.
Sinclair said, “We’re removing the premium associated with organic groceries.”
Wal-Mart / Wild Oats partnership to increase access and provide higher savings for customers
Tom Casey, CEO of Wild Oats said his company’s partnership with Wal-Mart Stores, Inc. (NYSE:WMT) will start a movement that allows customers to have easier access to lower priced natural and organic products.
“Our availability at Walmart will allow us to finally pass along scalable savings directly to consumers. We are reinvigorating our brand by bringing great tasting Wild Oats products to more customers than ever before.”
Wal-Mart Stores, Inc. (NYSE:WMT) and Wild Oats will remove the premium price associated with almost 100 organic food products. Some of the products include the Wild Oats organic tomato paste (6 oz), which only costs $0.58 compared with $0.98 for other organic brand. Its organic chicken broth (32 0z) costs $1.98 compared with $3.47 for other brands. Based on the Wild Oats pricing, customers will save more than 40% on both products.