The new chain, which is slated to begin opening next year, comes as Whole Foods seeks to differentiate itself amid intensifying competition. The company, which has more than 400 Whole Foods stores, has seen its sales growth slow as organic and natural products have become more widely available at mainstream supermarket chains and big-box retailers.
The new chain may also be inspired by the success of companies such as Trader Joe’s and Sprouts, which also focus on value and store-brand products, said Jon Springer, retail editor for the trade publication Supermarket News.
“They’ve identified millennial shoppers, younger shoppers who are very particular about what they eat, but also tough about what they can spend on food,” he said.
Source: Union Tribune