Whole Foods Market to Open Lower-Priced 365 Grocery Store
It's exciting to hear when one of the most expensive grocery stores in the country opens up a branch that offers lower-priced goods, and that is exactly what Whole Foods Market is doing with the 365 concept.
The very first "365 by Whole Foods Market" will be opening in Silver Lake on May 25, according to the Los Angeles Times. The Texas-based company markets it as a "quality meets value," type of store that will target young consumers, more specifically those within the age of 18 to 34 who are looking for organic and all-natural goods, but this time on substantially lower prices.
Whole Foods Market has been hit hard by the biggest supermarkets and stores in the nation with the trend of putting more shelf space for organic food products, which is probably why the organics giant is taking the fight to them by opening a new and more affordable version of their stores.
Get Our Latest News for FREE
The president of 365, Jeff Turnas said that they exhausted all possible options in order to find product efficiency since the very concept of the store is to be able to offer affordable organic and natural food without turning its back away from the very principles of Whole Foods Markets. Accordingly, the new grocery store in Silver Lake in LA will be featuring a restaurant, coffee bar, and a tea kiosk. Turnas added that they simply wanted to curate an experience that's unique to the place.
For those wondering how they could produce revenue by making a "cheaper" version of their traditional grocery stores, the company says that they're doing it by saving on the costs of labor since the number of workers are going to be reduced, while also limiting the range of products to be offered in the shelves. The idea is to put up some displays which are affordable but will still look good in the eyes of consumers.
