On the occasion of the fifth edition of the “TuttoFood” trade exhibition in Milan, the Italian Trade Agency and Walmart Stores, Inc. formalized the signing of a collaborative agreement. Spearheaded by the ITA’s Chicago office, the agreement is part of the continuing efforts, supported by the Italian Ministry of Economic Development, to increase the knowledge, awareness, and consumption in the United States of “Authentic Italian” food and wine products, as well as Walmart’s interest in the development of a curated range of “Best in Class” products imported directly from Italy.
Italian food to the USA
In 2016, the exports of Italian food and wine to the U.S. reached $4.6 billion USD, an increase of +4% from 2015. This increase comes primarily from growth in the following sectors: ice cream (+34,5%), cocoa based and sweet products (+31.5%), vegetable conserved in oil (+9.2%), rice (+8.8%), olive oil (+6.6%), wine (+6.6%), and fresh fruits and vegetables (+4.9%). While Italian exports have the number one market share in the U.S. for wine, olive oil, cheese, pasta, bottled water, and non-alcoholic beverages, “Authentic Italian” products have only just begun to scratch the surface of their potential given that the value of “Italian sounding” products sold in Northern and Central America amounts to $ 24 billion USD. The market research shows that more than 70% of Italian food exports to the United States are currently being sold through specialty stores rather than traditional retailer chains; the new collaboration with Walmart represents a major export opportunity for Italian food producers in the country.
The agreement
The agreement was signed in Milan by the ITA’s president Michele Scannavini and Ms. Silvia Kawas, Walmart’s Vice President of Dry Grocery. The key mission of this collaboration is to increase sales opportunities for Italian exports and suppliers by driving awareness among Walmart shoppers of the quality of the full range of “Authentic Italian” products. Under the terms of this collaboration, the promotion of selected “Authentic Italian” products will be throughout Walmart’s retail network of more than 3,600 stores across the United States. The length of the agreement is of 12 months (from May 8, 2017, to May 7, 2018), with an opportunity of subsequent renewals. ITA will organize and support the participation of Walmart’s buyers in the major trade mission to Italy for their products sourcing. All the related marketing and promotional materials (signs, labels, brochures, online advertising, etc) connected to the authentic Italian products in Walmart’s stores will be featured by the “Extraordinary Italian Taste” logo.