365 by Whole Foods – Opening New “Quality-Meets-Value” Stores
Whole Foods, affectionately (or not so affectionately) nicknamed “Whole Paycheck,” is opening a new chain of less expensive stores, 365 by Whole Foods Market. The company plans to open its first 3 stores in 2016; another 10 will follow in 2017.
The news has not been met with the positive response Whole Foods had hoped to receive. Amid negative business reviews wondering how the store intends to compete with itself, they are receiving backlash from their first targeted location, a Los Angeles neighborhood, Silverlake. Residents of Silverlake had been eagerly anticipating the opening of a full-service Whole Foods store. They, it seems, want the high-end, gourmet choices and specialty food items Whole Foods is know for, despite the cost.
Having once walked out of a Whole Foods after rejecting a $2.50 cucumber, I can’t help but propose the obvious. Why not cut prices at Whole Foods instead? The existing stores could retain the high-end, expensive, specialty and gourmet items while cutting the prices of produce and meat, along with essential items. It that way, Whole Foods could serve everyone without a new chain of stores.
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