New York – Customers of an upscale grocery chain can look forward to lower totals at the checkout line as a new customer loyalty program aims to lower prices in an effort to boost slumping sales.
The New York Post (http://nyp.st/2qjrdR5) reported that Whole Foods will be making the nationwide changes to its pricing structure by the end of the calendar year. The Texas based chain has seen sales falling over the years as customers seeking high end organic products have been flocking to other stores, including Trader Joe’s and Kroger, where comparable products can be priced as much as 15 percent lower than at Whole Foods.
Whole Foods has reportedly lost 14 million customers in the past 18 months, according to Fox News (http://fxn.ws/2pyDSCG), and no longer holds the top spot in organic and natural food sales, ceding that honor to Kroger which began stepping up its offerings in that area in 2013.
“There’s a lot of pricing pressure because their customers can get the same type of healthy food at lower costs at places like Walmart,” said Michelle Grant, head of retailing research at independent market research provider Euromonitor.
Whole Foods did not provide details of its new pricing structure, which is expected to lower prices on frozen food, milk and butter. Savings on dairy products may show up in stores as early as this summer.
Whole Foods has multiple stores in the greater New York area in locations including Brooklyn, Manhattan, Westchester, Long Island, Ridgewood, Paramus, Morristown, Marlboro, Newark, Spring Lake and Red Bank.