Wal-Smart: An Emerging Leader in Product Safety
2007 has been dubbed the year of the recall. 2008 is shaping up to be the year of the recall response.
The news that Wal-Mart will now require its suppliers of children’s products to meet tough new safety standards that go beyond mere compliance with government regulations – which was reported in yesterday’s Wall Street Journal by Joseph Pereira and Steve Stecklow – is just what the doctor ordered after a year in which more than 25 million toys were recalled.
By setting strict limits on the amount of lead and other heavy metals that its products may contain – and doing so without a government mandate – the world’s largest toy seller has set the standard around which its competitors must rally. It has taken a giant step forward in calming consumer fears and satisfying wary regulators. And, perhaps most important, it has branded itself as a leader in keeping our children safe.
Wal-Mart is running to the crisis, rather than running from it. As a result, it will now be perceived as part of the solution, rather than part of the problem.
