Whole Foods names its cheaper millennial play

Whole Foods names its cheaper millennial play

Whole Foods says it will name its new chain of smaller stores with lower prices after its “365 Everyday Value” house brand.

The chain will be named “365 by Whole Foods Market,” a nod to the brand already sold by the grocery chain, co CEO Walter Robb told the Associated Press.

Since announcing plans for the chain in May, recent trademark filings by Whole Foods Markets had prompted a guessing game that the stores might bear names like Clever Egg, DailyShop, Greenlife, Small Batch or Swiftgoods.

“Those cheap jerseys were all decoys,” Robb said in an interview, before quickly adding that his claim could also be a decoy to divert people about other plans.

The new chain, which is slated to begin opening next year, comes as Whole Foods seeks to differentiate itself amid intensifying competition. The company, which has more than 400 Whole Foods stores, has seen its sales growth slow as organic and natural products have become more widely available at mainstream supermarket chains and big box retailers.

The new chain may also be inspired by the success of companies such as Trader Joe’s and Sprouts, which also focus on value and store brand products, said Jon Springer, retail editor for the trade publication Supermarket News.

“They’ve identified millennial shoppers, younger shoppers who are very particular about what they eat, but also tough about what they can spend on food,” he said.

Executives in the supermarket and retail industry are also trying to adapt to the changing ways people are shopping. Wal Mart Stores Inc., for instance, has been opening “Neighborhood Market” stores that are smaller than its supercenters aimed at shoppers who want to get in and out quickly.

A similar philosophy seems to be behind the plan by Whole Foods. In its initial announcement, Whole Foods had said that the new chain would be “geared toward millennials.” But Robb said that while 365 is inspired by younger generations, it’s intended to appeal to anyone who wants a quick, convenient way to shop.

Whole Foods says it plans to open between five and 10 of the 365 stores around the country next year, and that it sees potential for the chain to eventually have as big a footprint as its http://www.cheapjerseys11.com/ namesake chain. The company, based in Austin, Texas, has provided few other concrete details about its plans for the chain.

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