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Wal-Mart to promote women-owned businesses with new product labels

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 Walmart's new "women-owned" product label is said to resemble a ring of women with their arms around each other. (Retail Wire) From "ethically-sourced" to "certified organic," it's hard to find a retail product these days without a host of labels on its package. 

A recent global survey by Nielsen found that 55 per cent of consumers are willing to pay more for products and services "provided by companies that are committed to positive social and environmental impact," and nearly all of those consumers read product labels to determine whether or not a brand is socially responsible. 

Soon, conscious consumers will have another logo to look out for when they're shopping thanks to a partnership between Wal-Mart and the Women's Business Enterprise National Council: "Women-owned."

According to Bloomberg Businessweek, Wal-Mart will begin selling products with small, circular stamps on them to indicate if a business is owned by women this fall. 

This follows the retail giant's 2011 pledge to source $20 billion worth of goods from women-owned businesses in the U.S. by 2016. 

"At Walmart we are committed to empowering women and impacting women-owned businesses from around the world -- and so are our customers," said MiKaela Wardlaw Lemmon, senior director of Women's Economic Empowerment at Walmart, in a statement.

"In fact, we recently conducted a survey that found 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." 

The WBENC, along with WEConnect International, will be certifying businesses seeking use of the logo. 

A lingerie brand called Smart & Sexy as well as the condiment brand Maggie's Salsa are among those who've been approved as part of the program. 

"People are looking for reasons to feel good about the company they're buying from," says Pamela Prince-Eason, chief executive officer of the Women's Business Enterprise National Council, to Bloomberg. "I think there's a very strong business case for having the logo on a product." 

Would you be more likely to purchase a product with a "women-owned" label on it? Weigh in below with your thoughts.

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