Whole Foods Wants To Appeal to Millennials
We would all like to lead a healthy lifestyle and incorporate the right foods into our daily diets.
However, the reality is that the price tag on organic and natural foods is often too steep for our mediocre pockets – or at least to maintain the good habit.
Keeping that in mind, Whole Foods is seeking to change its reputation of high-priced groceries, by introducing a separate chain of low-priced stores targeting the millennial generation.
The idea is to intrigue shoppers interested in natural and organic foods by incorporating a more affordable experience.
“Whole Foods has a problem on price,” Neil Sandeers, CEO of retail consultancy Conlumino, told USA Today. “Millennials just don’t have the disposable income to make that their destination of choice for grocery shopping.”
After conducting a share analysis, the growing chain found declining earnings in its second quarter – falling nearly 10 percent. The reason is in part due to the growing popularity of mainstream stores carrying fresh produce, veggies, natural and organic foods.
The move for the new chain is in motion as executives are in the lease negotiation process and discussing the store’s new format.
Whole Foods 2.0 will roll out next year. As of now, no details on quantity have been disclosed.
My only hope is that the quality doesn’t decrease with the lower-cost.