Austin, TX — Whole Foods Market will be focusing on current store growth in their new quarter instead of opening the recently forecasted 1,200 new stores across the U.S. The retailer has experienced low same-store sales in the last six quarters, and they’ll close down nine stores up until April while opening only six. They will also be reducing operating expenses while improving category management work.
“We know that our core customers represent our largest customer segment and account for a majority of our sales,” said Whole Foods CEO, John Mackey.
Insight towards creating a better shopping experience is crucial to the store’s development. Whole Foods Market will be partnering with London-based Dunnhumby, a customer science company, to improve the customer experience in their stores and increase sales.
According to an article in Business Insider, customers can expect decreased store prices and limited-time discounts. Competitors like Walmart and Kroger do offer lower priced organic foods, thus the need to improve customer relations and inform the reasons why Whole Foods is the best choice.
The company’s alternative approach is 365 by Whole Foods Market. It is smaller market with the same principles as the original. However, the 365 line by Whole Foods isn’t new. The line was launched in 1997 to give customers quality food at competitive prices, and the store format will be launched in 18 cities this year.
Mackey expects higher sales with the focus on customer care, and the 365 market proved successful in total sales; 2017 has much to expect from the groundbreaking organic market.
Source: Whole Foods Magazine News