Whole Foods Will Drop Its Prices
Unfortunately, that means fewer local products
Whole Foods may finally lower its prices—in the hopes of shedding the nickname "whole paycheck." The company, which, according to the Wall Street Journal, is in the midst of "its longest stretch of same-store sales declines since going public in 1992," has appointed Don Clark, a former Target executive, to help lower the prices.
To do that, the company will shift away from its localized model, which stocks artisanal ingredients and produce from local farmers and move toward a more national model with a smaller variety of items on shelves. However, a quarter of shoppers said in a recent survey that they shop at Whole Foods precisely for access to these products they can't find elsewhere.
RELATED How to Build a Cheese Plate on a Budget "
The team says the new approach will balance those two directions but doesn't specify how precisely or how much prices will drop. Stay tuned.