Whole Foods Will Open New Chain of Cheaper Grocery Stores for Millennials
Listen up, millennials: Whole Foods wants your business.
The healthy-grocery-store company recently announced it will target 20-somethings with a separate chain of cheaper grocery stores. “It will offer a convenient transparent and values-oriented experience geared toward millennial shoppers,” revealed co-CEO John Mackey.
The company has already started building a team and seeking out locations for the new stores, though it has not yet decided on a name.
“We want to underscore we see this as an ‘and’ to our Whole Foods Market brand, not an ‘or,’ ” said Mackey.
The news comes a few months after Whole Foods announced it would also be cutting prices across the country.
“We’re going to be relevant on price,” co-CEO Walter Robb said at the time. “We know where we stand relative to the others, and yes, of course, on the items that are ubiquitous, we’re going to be in and we’re going to have to price them right.”
Similar to the mother brand, the cheaper chain will feature its own new brand of food and beverages.
—Ana Calderone, @anacalderone