Walmart Canada held its second annual Growth Summit in Toronto on June 23, where select hopeful Canadian suppliers vied to secure a spot on the retailer’s shelf.
Venessa Yates, president and CEO of Walmart Canada, spoke with Grocery Business about the Summit and the retailers’ plans for future omni-channel assortments.
“We want to have more Canadian products on our shelves and create opportunities for suppliers who are unfamiliar with how to get into retail. We have some fantastic products with loads of innovation and our focus is on supporting these suppliers to grow from a single store to possibly 400 stores or online platforms.”
Aimed at boosting Canadian small and medium suppliers and helping them to scale effectively, Yates says the goal is to connect innovation with practical retail success and ultimately address unmet customer needs, always with a value-based lens.
She adds that the event serves to strengthen Walmart’s commitment to nurturing homegrown innovation and supporting local business growth.
When it comes to supplier selections for the Summit, Yates says Walmart prioritizes a potential candidate’s supply capacity and ability to supply quickly and consistently.
Prior to the start of the pitches, Walmart chief merchandising officer Russ Mounce sat down with one of last year’s winners, Daniel Carson, co-founder of Goldys, whose instant oatmeal products are launching nationally with Walmart Canada in August. Carson outlined the support Walmart provided through “a lengthy, but necessary process” and advised suppliers in attendance to make sure to connect with the right people and tell your story.
During the Summit, Walmart outlined the channels available to suppliers. In addition to in-store listings, the channels three online platforms, Walmart+, Walmart Connect and Walmart Marketplace, which is one of the retailer’s fastest-growing channels according to Gauthier Dumoulin, vice president of Marketplace.
Last year’s inaugural Growth Summit included 120 suppliers with this year’s event expected to have about the same or more suppliers.
