Despite its convenience, focus on sustainably-raised and GMO-free foods, and comfortable design, whole swaths of grocery store customers avoid Whole Foods for one reason: its high prices. Late yesterday, the company announced it would appeal to those customers by introducing a new brand of less expensive stores.
In a release, Walter Robb, co-CEO wrote, “[W]e are excited to announce the launch of a new, uniquely-branded store concept unlike anything that currently exists in the marketplace. Offering our industry leading standards at value prices, this new format will feature a modern, streamlined design, innovative technology and a curated selection. It will deliver a convenient, transparent, and values-oriented experience geared toward millennial shoppers, while appealing to anyone looking for high-quality fresh food at great prices.”
Late last year, the Austin-based company began struggling with less-than-stellar sales. To combat the decline, Whole Foods announced that it would begin to offer discount codes. While coupons and discounts are de rigueur in the grocery business, this was the first time in Whole Foods’ 35-year history that it saw the need to offer its customers a deal.