Walmart Stores pledged to stock more 'Made in the US' products and to spend an additional $250 billion by the year 2040 to bring manufacturing back to the US.
Yesterday it took the first step in honouring this pledge, by holding the first open call at its Arkansas headquarters for US manufacturing businesses that wish to have their products stocked at, or supply their products to, Walmart. This was an unprecedented event, and Walmart US CEO Bill Simon said, "By hosting the open call, we will be able to discover new products that we didn't know were out there."
More than 500 businesses attended the open call and several deals were inked on the day.
In the past, Walmart's aggressive pricing strategy has made it difficult for companies who manufacture in the US to stay profitable. However, times are changing, with some goods being manufactured for cheaper in the US than abroad, due to rising transportation costs and lower energy costs in the US.
Walmart hopes the fact that such products are made in the US will encourage more people to buy them and that footfall will be increased by having these US-made products in stock. The deals should also provide a major boost to the small businesses involved and hopefully drive sales and create jobs, both in these businesses and in Walmart itself.
© 2014 European Supermarket Magazine by Nicole Gernon
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