Walmart Is Ignoring Inflation This Year For Its Easter Meal Kit
Unfortunately, by now, most Americans have adjusted to the pressure and money stresses that have resulted from the unrelenting squeeze of inflation. The overall annual inflation rate in 2020 was 1.4%, and in 2021 and 2022, it increased dramatically to annual averages above 6%. The cost of food, in particular, was exceptionally high last year: At-home food costs increased 11.3% from January 2022 to January 2023. The U.S. Bureau of Labor Statistics breaks down the price discrepancies for each category, showcasing that eggs are now 70% more expensive, and fresh fruits and vegetables have all increased by at least 7%.
Most U.S. grocery retailers have done their share to keep food on store shelves during the ebb and flow of production amidst the COVID-19 pandemic, but keeping prices low has never been guaranteed. With a new year upon us, the USDA predicts that at-home food costs will rise over 8% in 2023. With Easter just around the corner, you may already be worrying about this year's potential prices as you set out to make your signature ham with cherry chutney, not to mention eggs for dying. Before discussing why Walmart might be your best bet for this year's spring feast, let's look at how the mega-retailer has shown up for its customers amidst the rage of inflation over the past few years.
Walmart's ongoing fight against inflation
If you enjoy getting the most food for your money, Walmart may be one supermarket you frequent. Despite the retailer having little choice but to raise prices amidst inflation, the company still saw positive outcomes in foot traffic and in-store sales leading into 2022. With over 5,000 retail locations nationwide, Walmart has built its reputation around everyday low prices. Amidst the ongoing shock of inflationary increases, despite the reason Walmart groceries are so cheap, upper- and middle-class consumers began to long for the best value for their money and ended up paying more and more visits to Walmart.com. With Walmart's dedication to the expanse of online products, while offering multiple services beyond its brick-and-mortar locations, such as curbside pickup and delivery services, the popular superstore has reached a wider variety of customers.
Walmart has also battled inflation through its private-label products. Based on a 2022 report by Numerator on private-label products, Walmart's variety of in-store brands had the most significant penetration among American households. With 2023 in full swing, as the Easter holiday approaches, Walmart aims to offer its customers the best deals on mealtime staples and many festive spring-inspired goods.
Walmart guarantees cost savings for the Easter holiday
Even though Walmart is setting modest expectations for the coming year, GlobalData analyst Neil Saunders believes with the retailer's new set of high-income customers looking to save money and the company's strategic purchasing power, Walmart remains committed to battling inflation in the current climate (via RetailDive). At the beginning of February, Walmart CEO Doug McMillon told CNBC that his goal was to keep the brand's private label products affordable, despite the ongoing pinch of inflation.
The company leader remains steadfast in his promise. Based on a recent email from Walmart to Daily Meal, the popular superstore guarantees its customers a full Easter meal and Easter gift basket this year for under $100. Walmart is committed to helping families achieve a stress-free holiday experience as it strives to offset the high cost of eggs by offering everyday low prices of many additional meal essentials ranging from meats to an impressive vegetable assortment, all the way down to dessert options like cherry pie. The retailer also offers consumers several affordable toys and Easter-inspired gifts that will match last year's prices.
To take advantage of these considerable cost savings, you can visit the Easter shop on Walmart.com and peruse the multiple offerings available until April 15th. Walmart is one superstore committed to offering its customers more ways to relax around the inflationary pressures surrounding food and gift shopping in 2023.