Following a summer of issues involving a massive overpricing scandal, that $6 "asparagus water," and subsequent declines in sales, it appears Whole Foods is hoping to shake its reputation of being too expensive. The organic grocery chain is reportedly planning to become more affordable -- and not just with new, cheaper stores.
During a quarterly earnings call this week, Whole Foods execs said customers can expect to see a big increase in discounts on things like meat, produce, seafood, and other items as soon as in the next few months, according to a report by Business Insider. However, don't expect lower prices storewide, but rather additional limited-time deals, per the report. But still, more sales? We'll take it.
The plans come after a tough last quarter that saw sales fall by 0.2% at stores open at least a year, and worse yet, sales are down 2.1% so far this quarter, according to the report. Along with the new deals, Whole Foods is hoping to combat the slump with the opening of its cheaper, streamlined "365" stores -- a handful of which are expected to open next year. By 2017, there could be as many as 10 of the new stores. And with recent "customer appreciation" deals like 25-cent coffee and oatmeal, it seems like Whole Foods has heard your wallet's cries of pain after all.