Walmart grows grocery, millennial market share

Walmart's (NYSE:WMT) efforts to grow grocery and reach younger shoppers are beginning to bear fruit, thanks to new fresh food presentation and the company's low-price positioning for millennials starting families.

Walmart's new "Fresh Angle" initiative features a new layout in produce departments with lower profile fixturing, angled displays and expanded organic selection. There are also "fresh experts" on staff to help train store employees.

The retailer showed off the changes to media prior to its annual shareholder meeting in June and 180 stores have tested the redesigned department.

Fresh Angle will now be rolled out to 3,300 stores by the end of the year, according to Supermarket News.

"It's going to change dramatically the look and feel of our produce department," Steve Bratspies, Walmart chief marketing officer, said at the Raymond James Investment Conference this week. "We expect these investments to pay off in the short term and the long term and we're pretty confident about what we're doing, and the customer perception improvement that we're seeing across the department is the best measure to tell us, that we're working on the right things."

Bratspies also noted that Walmart is gaining share from a coveted group: millennials.

Close to 66 percent of millennials 20 to 35 years old have shopped at Walmart in the past month and are more likely to shop the retailer than the general population, according to Fortune.

Market share of this group rose 4.5 percent among young mothers. "They are the most value-driven generation that we've seen in my lifetime," Bratspies said. "They are very focused on value, which aligns well for Walmart."

Walmart is focused on making its digital and physical properties more appealing to millennial shoppers, even as it closes underperforming locations and test concepts, including Walmart Express stores.

For more:
-See this Supermarket News story
-See this Fortune article

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