Whole Foods Market opens cheaper formula, called “365”

American supermarket chain Whole Foods Market, specialized in biologic and natural food, has just opened its first 365 store, a smaller and cheaper store formula it had long since announced.

Lower prices

The very first “365 by Whole Foods Market” is located in Silver Lake (Los Angeles). With 2,700 sqm, it is considerably smaller than the average Whole Foods Market store at 4,000 sqm.

365, named after the retailer’s private label, is the company’s counter for Aldi Nord‘s successful low price store formula at Trader Joe’s. The more luxureous Whole Foods Market is considered to be rather expensive in the United States and its shares have suffered because of it.

For millennials

With its slick look, digital labels and primary colours, 365 by Whole Foods Market targets trendy millennials looking for biologic fresh food and affordable convenience products without additives. The store has free WiFi, self-checkouts with Apple Pay and Instacart can even deliver a customer’s groceries at home. There is also a tea kioskwhere customers can compile their own blend and a bar with artisan coffee and craft beers.

The goal is to open another 2 365 by Whole Foods Market this year, with another 10 planned for next year.