In efforts to empower women and increase women’s economic mobility, Walmart supported the Women’s Business Enterprise National Council and WEConnect International in developing the “Women Owned” logo.
The “Women Owned” logo is placed on thousands of products from women-owned businesses so that customers can support female entrepreneurs. BlackEnterprise.com spoke with Jenny Grieser, Senior Director of Walmart’s Global Women’s Economic Empowerment campaign. Read what she had to say about the “Women Owned” logo and Walmart’s pledge to source $20 billion from women-owned businesses in the U.S.
Why did Walmart decide to place the logo on products from women-owned companies, and what is the ultimate goal of this initiative?
As part of its overall commitment to Women’s Economic Empowerment, Walmart partnered with the Women’s Business Enterprise National Council (WBENC) and WEConnect International in developing the “Women Owned” logo to help customers easily identify products made by women.
Walmart has a 5 year goal to source $20 billion from women for our U.S. business and to double source from women-owned businesses in our international markets.
Empowering women and impacting women-owned businesses from around the world aligns with Walmart’s overall strategy and makes sense for our customers. By offering products from businesses certified by WBENC and WEConnect International, Walmart is aiming to make customers around the world more aware of great products from women-owned businesses and to help these women continue to grow their businesses.
According to WBENC, women-owned businesses contribute over $1.3 trillion to the U.S. economy and women are responsible for more than 80 percent of consumer decisions made globally. Making these products widely available and helping create consumer recognition for them can result in sales growth and increased customer knowledge and loyalty.
With its size and scale, Walmart is uniquely qualified to lift up women around the world. Walmart launched its Global Women’s Economic Empowerment initiative in September 2011 to improve the lives of underserved women around the world. The “Women Owned” logo is just one way that Walmart is working to empower women through this larger initiative.
Will the “Women Owned” logo only be on display during Women’s History Month, or is it ongoing?
The “Women Owned” logo debuted in Walmart stores and online at Walmart.com/WomenOwned in March 2015, during Women’s History Month. After March, the badge will remain on thousands of products in-store and online.
How many of Walmart’s products are from women-owned businesses?
There are thousands of products by women-owned businesses sold both in Walmart stores and online, and the amount continues to grow. During March, in recognition of Women’s History Month, six products had special placement and the “Women Owned” logo was especially prominent.
What sales trends has the company seen in selling women-owned products since the logo launch?
Walmart conducted research to understand how women felt about products made by women. The research showed that a majority of our female customers would go out of their way to buy a product from women-owned businesses. Since the majority of our customers are women, and women are responsible for 80 percent of consumer decisions globally, we are sharing our passion for these businesses with customers and associates by showcasing products with the logo.
Through our sales, we can see trends showing that products from women-owned businesses outpace overall Walmart sales and are ahead of inventory. This shows that our customers are eager to buy these products and that this initiative has helped in showcasing women-owned businesses.