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Upscale supermarket Whole Foods—often mocked with the moniker "Whole Paycheck"—is known in the universe as a pricey place to shop. So with broke millennials in their sights, corporate execs have a plan: The company is rolling out a new chain of less-expensive stores.
The new offshoots will be given a "modern, streamlined design" and a very "tightly curated selection" to target 20- and 30-somethings, according to the brand's press release. The stores will be organic- and sustainable-minded, hawking "high quality, fresh food" at more approachable price points—which sounds suspiciously like Trader Joe's. Coincidence? We think not.
The first of these new markets are slated to open in 2016, but more details won't be revealed until closer to Labor Day. In the meantime, we're setting the over/under on check-out line waits at one hour...and we're taking the over.
UPDATE: June 11, 12:00 p.m.
Ladies and gentlemen, we have a name. The cost-conscientious grocery will be called "365 by Whole Foods Market," according to the American-Statesman. The title, which we have to admit is a bit of a mouthful, comes from Whole Foods' own in-house brand, "365 Everyday." We're also guessing CEOs are hoping you'll shop there 365 days a year to help offset Whole Foods' slowing sales growth. Not surprisingly, those products will line many of the shelves in the new stores, but the chain also promises items from other national brands. We're still not positive of the first location, but it's rumored the model could launch in the Northwest region. We'll keep you updated as we learn more.
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