Corporations are trying to address consumers’ growing concerns about what they put on and in their body. Beauty products, cleaning products and most importantly, food products, are taking major steps in assuring their customers that their products are safe for consumption. Corporate behemoth, Walmart, is one of those leading the way, as exemplified by the strategic decision to partner with a Texas cattle rancher and other industry-related businesses to provide a steady supply of no-hormone-added Angus beef to 500 of its U.S. stores beginning later this year.
As Bloomberg.com reports, the company estimates that the move will trim costs and create about 450 jobs, as well as,
The country’s beef consumption should rise to 57.6 pounds per person this year, the most since 2010, according to the U.S. Department of Agriculture.
The quality of U.S.-produced beef has improved as ranchers have received a strong signal to produce steaks and chops with more tasty, fatty marbling.
Tyson Foods Inc. and Cargill Inc. currently provide Walmart with most of its beef, and will continue to do so. Walmart is Tyson’s biggest customer, accounting for 17 percent of its revenue, according to Bloomberg data.
Retailers are increasingly taking control of the production of the food they sell to better respond to demand in a market where consumers’ tastes are changing rapidly.
The meat aisle has become a key element in Walmart’s efforts to boost its grocery business, the chain’s biggest source of revenue, which has provided a buffer against the encroachment of Amazon.com Inc. and German discounters like Aldi.
Read the full story on Bloomberg.com.
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