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Women in Business Wednesday; Walmart Will Label Products Owned by Women

Women Owned Logo
Move over ‘Certified Organic’ and ‘Fair Trade’, products on shelves in Walmart will have to make room for one more label: Women-Owned. From September 2014, consumers will be able to clearly identify which products come from female-owned or led companies and make their shopping decisions accordingly.
WomenOwned_Walmart_Logo_mainimageMoving Forward
As part of their promise to source $20 billion worth of goods from women owned companies in the US by 2016, Walmart have taken the step to clearly label the relevant products with a colourful ‘Women Owned’ logo.
The idea is part of Walmart’s Women’s Economic Empowerment Initiative, which launched in 2011 and aims to promote female-led business all over the world. The new symbol will appear on products which have been certified by the Women’s Business Enterprise National Council (WBENC), which gives the seal of approval to companies who wish to carry the logo if they meet certain criteria in regards to female representation.
Pamela Prince-Eason, the CEO of the certification organisation WBENC believes “there is a strong business case for having the logo on products.” In fact, a recent study commissioned by Walmart found that “90 percent of female customers in the U.S. would go out of their way to purchase products from women, believing they would offer higher quality.”
Women-owned businesses contribute more than $1.3 trillion dollars to the U.S. economy and employ 7.7 million people across the country. Walmart hopes that the logo, which resembles a ring of women with their arms around each other, “can inspire female consumers to act on a sense of solidarity.”

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Source: CBC News

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