Walmart is pitching its own private-label products to consumers as less-expensive alternatives to name-brand goods.
Link copiedWalmart Inc. is warning major packaged goods makers that it can no longer stomach their price hikes, pitching its own private-label products to shoppers as less-expensive alternatives to suppliers’ name-brand goods.
But now with the cost of cardboard cases declining by 40-50%, the cost of transportation falling by 25-30% and the cost of raw materials declining significantly, “retailers like Walmart will say ‘hey you already had three rounds of price hikes last year, why are you giving us another?’” said Burt Flickinger, managing director at retail consulting firm Strategic Resource Group.
“Because the consumer is now under more pressure, and Walmart is under pressure, that sets up a dynamic where there’s probably not a lot of pricing going forward.”At Unilever, the purveyor of Dove soap, Knorr bullion cubes and Hellmann’s mayonnaise, finance chief Graeme PitkethlyThursday that it was “not yet past peak pricing,” even after implementing a record 13.3% average price hike in the fourth quarter of 2022. Unilever estimated net material inflation of $1.
“We would think Walmart might emerge with less of a consumer goodwill hit than these other companies in a rising-price environment,” said Kilnk, whose firm holds more than $45 million in Walmart shares. “We’re trying to figure out with our suppliers, what could we do that’s different that would help mitigate some of those costs?” Walmart CEO Doug McMillon said at an investor conference in December.
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