Walmart Opens Up For Entrepreneur Elevator Pitches

In what The Wall Street Journal described as “Shark Tank” mashed up with speed dating, dozens of Walmart buyers and potential suppliers carrying their own version of the next big thing met up in Bentonville, Arkansas, for some 30-minute power pitches.

What kind of products did they see? Products ranged from alternative shaving products (for the scruffy gentleman who eschews a clean shave) to deep fried frozen turkeys and toddler dirt bikes. Why suppliers love the opportunity is obvious — there’s no better way to get into the minds of consumers than with Walmart-level exposure — but the world’s largest retailer’s motivation is a little more nuanced.

Walmart, since the ascension of Doug McMillon in 2014, has been laser-focused on improving their stores, particularly around supply. Walmart has often been dinged by critics in the past for maintaining its “always low prices” by stocking cheap imported goods. New suppliers with products conceived – and in some cases constructed or partially constructed in the U.S. – counter those criticisms and could draw more shoppers.

This event, known as the Made in USA “Open Call,” is in its second year. Most of the attendees were invited, though the event was also advertised due to their prior relationships with Walmart buyers. The chain does not disclose what percentage of those who pitched get a shot at the shelves – though they do disclose that those that are part of the chosen elect will get a small test run in a few hundred locations. That is done for the startup’s benefit, as a full rollout could blow their production capacities.

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