Your prayers have been answered: Whole Foods is launching a new, cheaper spinoff
By Virginia K. Smith |May 8, 2015 - 9:59AM
After all these years, it may finally be time to retire your worn-out "Whole Paycheck" jokes: Whole Foods is gearing up to launch a more affordable offshoot aimed towards millenials, the company announced earlier this week.
Details are scant on how, exactly, the new stores will differ from the classic Whole Foods model in order to make products more affordable, but the company's co-CEO, Walter Robb, explained that they'll have a "modern, streamlined design, innovative technology and a curated selection." And while the target demographic here is young people who have eschewed the store for cheaper options, Robb said that the new stores are aimed at "anyone looking for high-quality fresh food at great prices."
The move comes after Whole Foods' second quarter earnings fell short of expectations, and as one retail consultant explained to USA Today, "(Whole Foods) still has a problem on price, [and] (millennials) just don't have the disposable income to make that their destination of choice for grocery shopping." No duh.
Expect more details to emerge sometime around Labor Day, with stores opening in 2016. In the meantime, navigate Whole Foods like we do: stop in for fresh produce and their "365" store brand products—a surprisingly good deal, usually—and supplement the rest with Trader Joe's. And skip the pricey cold bar.
Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.