Whole Foods is planning on setting up grocery shops in low income neighborhoods after a ton of people from south side Chicago attended an opening of a store in Englewood. The residents praised the fresh food and the specialty items available in an area that has few healthy eating options. One reason they are broadening their target market may be because the company's stock decline. Some analysts question whether or not Whole Foods can grow anymore considering the high demand for organic and natural food markets.
Some market analysis are skeptical on the success of moving the stores into low income neighborhoods considering not every low income neighborhood has the same dynamic nor will they respond the same way the south side Chicago area did. On top of setting up shops in low income neighborhoods, Whole Foods is also taking steps into targeting millennial shoppers looking for a cheaper mix of healthy to go foods through their new 365 by Whole Foods Markets, which are smaller versions of full size grocery store.
The 18,000 square foot stores are smaller than most Whole Foods stores. Prices on things like eggs and cheese are lower than they are in the original markets. In order to meet the needs of the residents in these low income, Whole Foods hired a resident to survey local churches, nail salons, and other places in the community for almost a year so hopefully things will play out and benefit the company as well as the community.
To read more about this article click here.
wow!
ReplyDelete