Walmart stands tall as the largest retailer in the United States, yet a significant part of its triumph lies in its commitment to small business development. This is particularly evident through its annual pitch competition dedicated to small U.S. suppliers. Scheduled for September 24 and 25, the 11th iteration of Walmart’s Open Call event aims to amplify the voices of hundreds of small to medium-sized suppliers as they seek opportunities to showcase their products in Walmart stores.

In last year’s event, over 700 suppliers presented more than 1,000 products that were made, grown, or assembled in the U.S. This endeavor not only serves as a launchpad for aspiring entrepreneurs but also aligns with Walmart’s broader initiative to bolster U.S. manufacturing, aiming to create an estimated 750,000 jobs over the next decade through a substantial investment of $350 billion.

A Gateway to Entrepreneurial Success

Jason Fremstad, Senior Vice President of Supplier Development and Sourcing at Walmart, views the Open Call as a vital part of the company’s supply chain and business strategy. Over the years, Walmart has facilitated over 9,000 unique opportunities for suppliers through this program, reinforcing its role as a champion for American-made goods.

“This event represents our commitment to accelerating U.S. manufacturing,” Fremstad remarked. “By providing a platform for small suppliers, we aim to create not just consumer goods, but solutions that resonate with our customer base.” The Open Call stands as Walmart’s signature sourcing event, a critical juncture where suppliers can present their innovations directly to Walmart and Sam’s Club merchants who can make pivotal decisions about product placements.

Meet the Makers

Another integral aspect of this program is the passion of the suppliers. These entrepreneurs often bring personal stories tied to their products, which further enriches the customer experience. Walmart remains focused on understanding why consumers would love these items, ensuring that the products they bring to market genuinely reflect customer needs and desires.

Fremstad highlighted the importance of fostering realistic expectations among suppliers. “If our merchants grant someone a golden ticket, that’s just the beginning. We intend to partner with them every step of the way, aiming for mutual growth,” he said, underscoring the collaborative nature of the program.

Evolving for Broader Impact

As the Open Call matures, it has also expanded to include a wider variety of categories beyond food. While food products still command a significant portion of submissions, areas such as general merchandise and health products have gained prominence. Moreover, the introduction of an export program enables suppliers to explore opportunities in Walmart Canada and Mexico, further extending their reach.

This evolution reflects Walmart’s adaptive strategy in responding to changing market dynamics and consumer preferences. The implicit understanding that the demands of a diverse customer base necessitate diverse offerings adds to the richness of the products that ultimately make it to shelves.

Legislative Engagement and Community Impact

Adding another unique dimension to Open Call are the initiatives designed to engage suppliers with lawmakers. Walmart organizes fly-in events in Washington, D.C., where past participants get the chance to meet with Congress members. This interaction not only highlights the importance of American-made products but also allows entrepreneurs to discuss their success stories and articulate their needs in a legislative context.

Past winners of the golden ticket are invited back to share their experiences and insights with incoming contestants, fostering a supportive community. These past winners often find ways to give back, helping new suppliers understand the complexities of retail and merchandising.

Customer-Centric Focus on American-Made Goods

Walmart recognizes the consumer preference for domestically-made products, with research indicating that 85% of customers express a desire for U.S.-made goods. In response, the retailer strives to allocate two-thirds of its spending in the U.S. to items produced within the country, reinforcing its customer-centric approach.

Walmart’s commitment can be seen in the staggering statistics – with approximately 255 million customers visiting over 10,500 stores weekly, it holds a significant influence in shaping the retail landscape. Fiscal year 2024 revenue projections suggest that Walmart’s steadfast focus on customer values will continue to drive growth and foster innovation.

The Open Call event not only highlights Walmart’s dedication to small suppliers but also showcases its role in empowering local communities and driving the U.S. economy forward. It demonstrates how big retailers can serve as catalysts for entrepreneurship, ensuring that even small businesses can find their place in the national marketplace.