by Lance Turner
Posted 8/19/2013 11:00 am
Updated 1 year ago
Bloomberg reports this week that Wal-Mart Stores Inc. of Bentonville is aiming to double sales of beer by 2016. The initiative began last September, when the retailer held a "beer summit" in Bentonville attended by about 500 representatives of the industry:
In the year since, the world’s largest retailer has focused as never before on beer -- a U.S. category worth about $45 billion -- and has moved aggressively to grab market share. The company has doubled the number of alcohol buyers to 12 and offered discounts on a range of brands, from mainstream Coors to such craft beers as Deschutes. It ditched slow-selling products to make way for beer and is even selling it in garden centers. New stores are designed to put the suds front and center.
In the video below, reporter Renee Dudley talks about how competitors -- including dollar stores, grocery chains and warehouse retailers like Costco -- could feel the heat as Wal-Mart ramps up its beer business. You can read the full Bloomberg report here.