01.16.13
Walmart's been accused of sourcing Chinese-made goods for years. But now the company is fighting back against those accusations and draping itself in the American flag.Yesterday, Walmart recently announced plans to hire 100,000 returning US soldiers. Just yesterday, the world’s largest retailer committedto sourcing $50 billion worth of goods in the US over the next 10 years.
The announcement came from Bill Simon, president and chief executive officer of Walmart US, speaking at the National Retail Federation’s 2013 Big Show, where he introduced several major initiatives related to job creation and the economy.
Simon challenged the notion that Walmart sources most of its merchandise overseas. “Made in the US accounts for two-thirds of what we sell,” Simon said. “Today, we will make a commitment to add an additional $50 billion in made-in-America goods over the next 10 years.”
Walmart will manufacture apparel, home, games, pet supplies and high-end electronics to start. Simon appealed to the audience of retail professionals, saying that if everyone participated, “We could source $500 billion worth” of merchandise domestically.
Walmart maintains that 54% of total sales in 2011 came from groceries and household products such as detergent and paper towels, which are produced Stateside. Meanwhile, Walmart’s soft goods and electronics businesses — categories that are generally sourced overseas — have been declining.
The announcement came from Bill Simon, president and chief executive officer of Walmart US, speaking at the National Retail Federation’s 2013 Big Show, where he introduced several major initiatives related to job creation and the economy.
Simon challenged the notion that Walmart sources most of its merchandise overseas. “Made in the US accounts for two-thirds of what we sell,” Simon said. “Today, we will make a commitment to add an additional $50 billion in made-in-America goods over the next 10 years.”
Walmart will manufacture apparel, home, games, pet supplies and high-end electronics to start. Simon appealed to the audience of retail professionals, saying that if everyone participated, “We could source $500 billion worth” of merchandise domestically.
Walmart maintains that 54% of total sales in 2011 came from groceries and household products such as detergent and paper towels, which are produced Stateside. Meanwhile, Walmart’s soft goods and electronics businesses — categories that are generally sourced overseas — have been declining.