Whole Foods, while immensely popular, has over the years become regarded as a pricier grocery option. With its wide selection of produce and a variety of packaged products that satisfy all diet types, it’s very easy to overspend at the chain.
In an attempt to rebrand themselves as an affordable and convenient option in the organic food market, Whole Foods will be launching their first “365 store,” a budget-friendly version of Whole Foods, aimed at Millennials. With an increase in the number of mainstream and specialty grocers also offering organic foods, the company is hoping this new location will set them apart once again.
The store is set to open on May 25 in the Silverlake neighborhood of Los Angeles, the company said Thursday. The name of the new chain stems from Whole Foods’ private label brand, whose products are a bit more economical in comparison to the other brands at their stores. In addition to the focus on their house brand, Whole Foods will also be partnering with companies to offer a variety of services to their customers.
The 28,000-square-foot location will include an Allegro Coffee Company bar that will serve craft coffee and beer, teaBot, a tea kiosk that can brew a cup in 30 seconds, as well as the wildly popular, casual, all-vegan restaurant, ByChloe, right inside the store!
“The idea is to not only entice customers through the door, but get them to stay a while,” said Jeff Turnas, president of the 365 stores, in an interview with USA Today. With so many delicious options for healthy, plant-based, affordable and convenient food, we think customers will definitely stick around for a bit!
Whole Foods is definitely smart in putting their efforts towards Millennials. As Nil Zacharias, Co-Founder of One Green Planet has pointed out, “Millennials are currently one of the most powerful group of consumers in the U.S. Nearly 25 percent of the population fall under this generational segment, and it’s estimated that they have over a trillion dollars in buying power… As a consumer group, Millennials recognize that their food choices have a very real impact on society and the environment, and they are big proponents of shopping with a conscience.”
With more consumers looking for organic, healthy food and plant-based alternatives, and more importantly, more grocers starting to stock their stores with these items, Whole Foods has some competition. The choice to make healthy, organic, and plant-based foods available at a reasonable price-point will not only help Whole Foods as a company but make these items accessible to people who would otherwise avoid these options. We’re excited to see what other local companies Whole Foods will partner up with, and of course, we’re wondering what other cities 365 stores will pop up in!