Wal Mart to pay more for sustainably sourced products
4th February 2008 by Alex Briggs
Wal Mart CEO and President Lee Scott announced that Wal Mart is willing to pay more for sustainably sourced products, stating
“The drive will see the retailer favour – and in some cases even pay more – for suppliers that meet our standards and share our commitment to quality and sustainability. Paying more in the short term for quality will mean paying less in the long term as a company. Higher quality products will mean better value, fewer problems, fewer returns and greater trust with our customers,”
The move by Wal Mart is further proof that the retail industry is listening to the voices of consumers. Scott closed out the speech by saying, “”Our customers want products that make them feel good about their purchases,” said Scott.
“They want to walk into our stores and be confident that the products on our shelves are safe and durable. They also want products that are made in a way that is consistent with their own personal values.”