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- RESEARCH & AWARDS
A report from the Nikkei newspaper in Japan last week says that Seiyu, the Japanese division of Walmart, will create two new private brands of groceries as it transitions away from the retailer’s Great Value flagship private brand.
The report said that Great Value, which was introduced in Japan in 2005, will be phased out “because the company feels that its image has become vague, both in terms of pricing and product quality.”
It is not the first time that Walmart has phased out Great Value internationally. It did the same in Brazil in the past three years, transitioning from Great Value to Bom Preco, which means “good price” in Portuguese.
Seiyu said it would sell about 120 items under the new brand labels, including cup noodles, beverages, liquor and frozen foods, in 371 stores nationwide. According to Nikkei, it plans to expand the brands to 500 items next year and triple its private label sales overall by 2015.
Products in one of the brands will feature only items that at least 70 percent of consumers surveyed rated as “good” in terms of taste and price, the report said. Products will sell for 10 percent to 20 percent less than national brands.