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Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.

 

Whole Foods to debut lower-price store format to attract Millennial shoppers

Wednesday, May 27, 2015 > 09:27:46
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(Grocery Business)

Whole Foods is planning to launch a new streamlined, technology-oriented store format designed to appeal to Millennial shoppers.

During a conference call with investors last week, Whole Foods founder and CEO, John Mackey, offered few details, but said the format will target a younger shopper with “value prices,” according to ABC News.


"There will be more tailored product mix,” Mackey said. “They will be very tech-savvy stores and they will be very exciting to … the Millennial generation of about 90 million people."

The name of the new concept will be revealed some time this summer, Mackey said. Co-CEO Walter Robb said Whole Foods decided to announce the news now because the company is already signing property leases. "The plan is to begin opening stores next year, and given the more standardized design and product assortment, the company expects a fairly rapid expansion from there," Robb said.

In answer to investor concerns that the new format stores might cannibalize existing stores, Mackey and Robb said the new concept would be "complementary." The company said it expects to reach 500 stores in 2017 and in the long-term sees demand for 1,200 Whole Foods Market stores in the United States.


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