Whole Foods making up with customers, cutting prices
Whole Foods, more like Whole Paycheck, am I right? The natural and organic supermarket chain receives a lot of flack for their high prices and have even lost many customers to more affordable options like Kroger. Well in order to keep up with the Jonses, they’re slashing prices.
They’re going to swing this by improving their category management. They’re going to take the money saved in that avenue and use it to invest in lowering product prices. That way, Whole Foods can appease customers while also retaining their gross margins.
They’re also trying to reel customers back in by implementing a customer rewards program, similar to a Kroger card.
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