At Walmart’s eighth annual Open Call, over 1,100 firms from around the country marketed their products made, grown, or assembled in the US to Walmart and Sam’s Club merchants.
More than 330 of those pitches landed in an agreement for firms to sell their products to their shoppers.
They might sell by placing their products on Walmart or Sam’s Club shelves, through its online store, or via Walmart Marketplace.
CEO Doug McMillon said: “Investing in US manufacturing is not only the right thing to do for the country’s long-term economic health, it’s the right thing to do for customers today who are dealing with historic inflation.”
“We’re excited that more and more great products at strong price points are being produced in the US Our $350 billion investment in items made, grown or assembled in the US helps deliver our customers the goods they need, when they need them, at affordable prices, while supporting the creation of more than 750,000 jobs.”
Furthermore, the owners of over 280 products are maintaining negotiations with sellers about future partnerships.
The firm vowed in 2013 to spend $250 billion over ten years on items created, cultivated, or assembled in the United States, a goal the corporation said this week it had now met.
The retail giant announced last year to spend an additional $350 billion on products exclusively from the United States by 2031.
Participants in this year’s Open Call heard directly from Walmart executives and merchants, in addition to one-on-one pitch sessions with Walmart and Sam’s Club merchants.
Shorter breakout workshops were given for vendors to learn more about important subjects and resources.
Open Call is its largest sourcing event, and it has been critical in the corporation meeting its initial $250 billion pledge.
For the first time in Open Call history, the retailer provided existing Marketplace vendors with an exclusive early-access opportunity to submit their applications.
Over 4,500 business owners applied, and over 13,000 products were registered.
This year, candidates from all 50 states, including the District of Columbia, pitched their items for selection in 30-minute virtual and in-person sessions at the corporation’s Bentonville headquarters.
Almost 60% of the company owners invited to Open Call identify as diverse-owned firms.
Source: Yahoo! Finance