Impossible Foods CEO Patrick Brown said launching the Impossible Burger at Walmart is a “very significant step” for the company, as the discount retailer is the largest meat seller in the United States.
“Walmart is the world’s largest food retailer,” Brown said Thursday in “Closing Bell.” “It has a great presence – 90% of the population of the United States lives within a mile of a Walmart store. “
Brown said the partnership is exactly the type the company wants, especially considering Walmart’s commitment to sustainability. The launch brings Impossible to more than 2,000 stores in all 50 states, as well as the Walmart website and app.
The association increases the availability of vegan burgers at more than 8,000 retail stores across the country, as the company’s retail footprint has become 50 times greater than it was six months ago. Impossible’s rival Beyond Meat is out now in stores like Kroger.
Brown said he does not see the two companies competing with each other and that he wishes beyond luck in their business. Instead, he said that both companies are competing against the meat industry. He described Impossible Foods’ mission as a complete replacement for the need for animals in the food system.
Brown said that over 90% of impossible customers are current meat consumers, meaning that purchases come primarily from customers who select their product as an alternative to meat. With this in mind, Brown said he was pleased that the product is being sold in store meat aisles so it can be where shoppers are looking.
“I think we are going to see, with the disruption of the meat industry, more first-time buyers looking for their meat elsewhere,” he said. “It’s very sticky. Most of them become repeat customers.”
Impossible Foods was ranked 49 on the 2020 CNBC Disruptor 50 list.
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