Whole Foods to Open new chain of stores aimed at younger market

Whole Foods Market Inc. has plans to open a new chain of stores that will be geared toward the younger generations. The new chain will have lower prices and will also cost less to run, helping cut down on costs. Co-founder and co-chief executive John Mackey says the new chain will be more “hip, cool, and tech-oriented” to try and attract younger customers who don’t want to spend a ton of money but still want to buy healthy top shelf groceries. Whole Foods is keeping their cards close to the chest, not revealing the name stores or any detailed plans of the new chain, but Mackey is very optimistic, exclaiming “we’re still light years ahead of others, so it’s going to take them a while to catch up”. 

A major concern that analysts have is that the new chain will cause cannibalization of Whole Foods existing chain, taking sales and sending gross profit margins downhill. Again, Mackey rebuttals by saying that to succeed one must be willing to change along with the market. Along with this statement Mackey believes that the new chain of stores will only compliment profit margins by attracting a completely different demographic. The goal of the new chain is to have a complimentary chain that targets millenials who are too cost conscious for Whole Foods prices but still want the high quality food.  

There has been some speculation on whether or not the new chain will succeed or flop, as Whole Foods’ stock has been fluctuating erratically. To help combat against any cannibalization, current stores are adding more store-branded products and customer-loyalty programs. However, among all the fuss, Whole Foods reported profits increased by 16 million dollars since last year. 

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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