A WHOLE Foods executive has revealed a new small format store with “larger assortment” that’s now open as it continues to compete with Trader Joe’s.
It comes after the grocery giant confirmed plans to expand its operational footprint.
The Whole Foods exec has revealed a new small format store with “larger assortment”[/caption]
Whole Foods have tested the store from Amazon under the same roof as Whole Foods Market in the One Chicago building.
The grocery store chain was taken over and purchased by Amazon in 2017 for a shocking $13.7 billion.
Whole Foods exec Tony Hogget took to social media to announce the opening.
He said how customers “can now shop their favorite natural and organic brands while also quickly topping up their groceries”.
The exec also added how there is “a larger assortment of favorite national brands, grab-and-go meals, and household essentials—all in one trip.”
A “small format” store is a space that’s a lot smaller than a normal, traditional store – and can often equal a more efficient sales strategy.
This is because despite the size, stores will still bring the same brand awareness to areas while also offering customer convenience.
The CEO of Whole Foods announced earlier in the year huge business changes that could save shoppers some money on groceries.
CEO Jason Buechal gave an inside look at Whole Foods‘ plan to fight inflation and expand the brand’s reach at a California conference.
Speaking with Yahoo Finance, Buechal revealed Whole Foods would be expanding its generic brands to offer more affordable options and “minimize” the impact of inflation.
Currently, the brand 365 by Whole Foods already offers more than 3,000 different “thoughtfully sourced” products, according to the grocer’s website.
The CEO said he wants customers to “appreciate the work that goes into” how they source food with the 365 expansion.
However, he emphasized the move wouldn’t distract from the grocer’s diverse selection of products from other distributors.
When asked about new stores, Buechal said the Amazon-owned grocer plans to open more than 30 locations each year, and added that 75 are currently in the process of opening.
Some of the locations will have new formats, such as the tiny Whole Foods Market Daily Shops set to open in New York City.
Buechal said the expansion was decided based on an increasing customer interest in the brand.
New technology will also be implemented in stores, according to the CEO.
Like many other grocers, Whole Foods plans to introduce the mobile pay option Amazon Dash Cart which allows shoppers to skip checkout by scanning items from the shelves and paying with their phone.
The new tech will “simplify how we run our business,” and create a streamlined customer experience, according to Buechal.
The CEO of Whole Foods announced earlier in the year huge business changes[/caption]
Amazon’s Dash Cart technology comes after the mega-corporation pulled its Just Walk Out technology from stores.
The alternative checkout option was first implemented in the Amazon Fresh brand, which struggled to get off the ground.
Some shoppers called Amazon Fresh “zombie stores” because of the limited staff and eerie design at the locations.
Despite this, Amazon doesn’t seem to be backing down and is willing to make some failures in the name of progress, Forbes reported.
Whole Foods fans in New York City can expect to see some of the convenience store-style Daily Shops crop up in busy areas of Manhattan.
The quick-shop stores provide “easier access to the fresh, high-quality offerings” of the brand compared to most convenience stores, according to Whole Foods.
The first store will open in the Upper East Side of New York.
It’s slated to open this year, and more shops will open throughout the New York metropolitan area.
“This quick-shop format is one more way Whole Foods Market and Amazon are innovating every day to build a best-in-class grocery shopping experience that offers multiple ways for customers to conveniently shop for the products they know and love,” a Whole Foods representative told The U.S. Sun.
CPI and Inflation explained
The Consumer Price Index is how the federal government measures inflation.
Every month, the Bureau of Labor Statistics shares its CPI numbers with detailed breakdowns of which items have changing prices.
The CPI shows the amount prices rose or fell over the previous 12 months.
The calculation process is complex, but measures the changes in price for urban consumers, those living or working in an American metropolitan area.
While that does not cover everyone, it measures prices for about 90% of the population.
