Amid rising food prices and lingering inflation, Walmart is stepping up its efforts to meet the needs of budget-conscious shoppers. With grocery sales surging by 5.3% last quarter, the retail giant is gaining market share and reshaping its stores to provide a better shopping experience. Walmart CFO John David Rainey highlighted the company’s focus on affordability, quality, and convenience in an interview with FOX Business. From remodeled stores to an expanded private label line, Walmart is working to attract more customers while offering them savings. Here’s a look at the big changes happening now.
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Grocery Sales Soar Amid Inflation
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Walmart’s grocery business is thriving, with U.S. store sales up 5.3% last quarter. As food prices rose 2.7% in November, shoppers increasingly turned to Walmart for its competitive pricing and wide selection. Fresh vegetables, which saw a 2.9% price hike, are now available in greater variety and quality than ever before.
Produce Sections Get a Makeover
Walmart"We've got a very high-quality produce offering for people, and it invites them in," Rainey told FOX Business. Walmart has upgraded its produce sections with a broader assortment of fruits and vegetables. "The quality is just much different than what you've seen historically," Rainey added. These enhancements are designed to cater to shoppers who prioritize fresh and affordable food—fresh not being something you'd normally think of when it comes to big box stores.
Modernizing Stores Across the Nation
WalmartOver the past three years, Walmart has remodeled an average of 700 stores annually. These revamped locations feature modern layouts, improved product selections, and updated signage. The company plans to continue these updates, ensuring a better experience for shoppers in the coming year.
Private Labels Drive Savings
WalmartWalmart recently launched its largest private label brand, Bettergoods, encompassing 300 products like frozen foods, dairy, snacks, and beverages. Rainey emphasized the importance of offering quality at affordable prices, saying, "It's much broader and appeals to a lot more customers and members."
Convenience That Counts
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"One-third of our customers are paying extra for expedited food delivery through Walmart’s delivery services," Rainey revealed. This reflects a growing demand for convenience, with shoppers willing to invest in faster delivery options to save time and effort—a habit fueled by the pandemic—even if it comes at an extra cost.
