Walmart Promises to Buy More American Goods (Where's the Catch?)
Eager for positive publicity in the wake of the Bangladeshi factory fire that killed over a hundred workers, Walmart pledged Tuesday to source more of its goods in the United States.
How much more? Well, Walmart promised to buy an additional $50 billion worth of American goods over the next decade. The New York Times crunched the numbers and found that $5 billion per year would be about 1.5% of what Walmart spends to buy and transport merchandise annually.
So, while a few American manufacturers will welcome the extra business, Walmart isn’t exactly pledging to change its business model.
[Photo credit: brandonevano, Creative Commons.]