The Austin-based company is the nationwide leader in natural and organic grocery sales, but it's also well known for its high prices due to the same principle of coming from the organic food industry; now, in a bid to entice customers who want to eat healthier while spending less, they're launching a Whole Foods low cost chain.
The entire food industry in the United States is currently undergoing a series of changes to favor organic over all, including the most recent moves to get rid of genetically engineered organisms and phase out chicken fed with antibiotics; now, the next step is the Whole Foods low cost chain to make a natural diet more readily available to those in different social and economic situations.
According to Time Magazine, the announcement to release the Whole Foods low cost chain came last Wednesday, as the Texas company said they'd be launching a new format with a specially "curated" food selection with a simpler design.
The move, obviously targeting the millennial fanbase that's interested in organic eating without the means to support the diet change, makes the company far more enticing, as a Whole Foods low cost chain could finally make them get rid of the nickname it's gained for its high prices: "Whole Paycheck."
CNN Money reports that the company's doing incredibly well as it is, as same-store sales have grown by 3.6 percent while overall sales went up 10 percent to an amazing figure: $3.6 billion.
The Whole Foods low cost chain would be the next step for the company, which is planning to open 23 new supermarkets this year to add to their 417 stores nationwide.
"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 price," said Walter Robb, the Whole Foods CEO, to Fortune Magazine. "We believe the growth potential for this new and complementary brand to be as great as it is for our highly successful Whole Foods Market brand."
It's still unclear when the new Whole Foods low cost chain will be officially launched, but Robb has stated that more details will come by September.
