Whole Foods has recently announced store closures in a number of markets, including their bread-and-butter location of California. But in a time when natural and organic foods are on a huge upswing, why is a retailer that focuses explicitly on those types of items facing a decrease in sales?
If you look at the maps, you’ll see that the population is densely populated in urban areas (duh). But you’ll also see that those areas have a wide range of incomes and, as it turns out, metropolitan doesn’t equate to money. So Whole Foods is having to refocus their efforts from expanding their flagship stores to targeting a population that has an interest in what they are offering, but doesn’t have the budget to enter the Whole Foods experience. Welcome to 365 by Whole Foods.
(If you find yourself thinking, “I’m way more of a Trader Joe’s person,” check out my classmate’s article!)