Back in May, Whole Foods announced it’d be making a play for that coveted category of customers, the almighty millennials, by launching a new line of lower-cost stores. The company has now revealed which cities will see those first cheaper stores.
If you’re on the East Coast and hoping for lower prices, well, you’re out of luck for now: the first of five “365 by Whole Foods Market” locations the company is opening in the second half of 2016 is slated for the Silver Lake neighborhood of L.A. The company says it made the “strategic decision to renegotiate the lease in development for the Silver Lake location,” transforming the Whole Foods Market there into a 365 by Whole Foods Market store.
The other locations getting a millennial-baiting store include Houston; Bellevue, WA; Portland, OR and Santa Monica, CA.
These spots were chosen due to a “high demand for both quality food and value in a convenient format,” according to a statement by Jeff Turnas, president of 365 by Whole Foods Market.
In May, Whole Foods co-founder and co-Chief Executive John Mackey said prices will be lower at the new stores, which will also cost less to run and be “hip, cool, and tech-oriented.”
Whole Foods could use a boost right now, as it admitted earlier this week that the company had its weakest increase in quarterly sales since the early days of the Great Recession.
by Mary Beth Quirk via Consumerist