Wal-Mart announced plans to double the amount of local produce it buys from small farmers over the next five years. It has aggressive plans for India and China, too, where it will peddle $1 billion worth of food grown by smaller farmers, and even help school them in sustainable farming practices, including measured use of water, pesticides, and fertilizers.
Wal-Mart has been growing its track record in environmental initiatives, including its planned sustainability scorecard for suppliers.
The megaretailer may be responding in part to consumers' rising awareness of the ethics of how their food is grown and sold. But while Wal-Mart is adapting to this mind-set, other businesses have it built into their corporate DNA. Whole Foods Market
Wal-Mart seems like an odd fit among such a "touchy-feely" crowd. Until fairly recently, the company's gotten a bad rap with large swaths of the general public. Consumers don't tend to fight off a Target
Wal-Mart's environmental initiatives could help the company shore up consumer goodwill -- a key priority, given the specter of slowing U.S. sales that's been dogging the retailer lately. Wal-Mart needs to drum up increasing traffic from beyond its traditional customer base, and sustainability initiatives could help change more consumers' minds about the retailer.
More and more people (and companies) recognize that environmental issues represent hidden costs that could harm wealth. As a result, the search for sustainable innovation is under way, and Wal-Mart's definitely charging hard toward the concept.
What do you think of Wal-Mart's plans? Can Wal-Mart win over more consumers with such initiatives? Give us food for thought in the comment box below.
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Alyce Lomax owns shares of Whole Foods Market. The Fool has a disclosure policy. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community.
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