Whole Foods Courts Highly Priced Millennials with Value Stores
A Chicago Tribune article posted online May 7, 2015, reported that Whole Foods is planning smaller value-focused stores targeting Millennials.
Faced with slowing growth and fresh competition from the likes of Kroger’s Simple Truth line and Target’s expanding range of natural, organic and locally grown products, Millennials are finding Whole Foods items out of their price range. “They are often seen as food-focused and tech-savvy, and, as many were coming of age during the recession, they continue to keep tight tabs on spending,” writes Jessica Wohl, Chicago Tribune reporter. “The concept chain is being built for millennial shoppers, but Whole Foods said it would appeal to anyone looking for fresh food at great prices,” she writes and quotes Co-CEO Walter Robb as saying “the new format would allow Whole Foods to access many more markets and communities that perhaps it couldn’t serve with its current stores.”
Posted online by Global Food Forums June 1, 2015