Whole Foods has a lower price point than D’Agostino, Fresh Direct, Food Emporium and Gristedes in the Big Apple. Seem absurd? Perhaps, if you’re used to the Whole Foods = Whole Paycheck image. However, if you’re a Manhattanite like us, you can most likely relate.
Cheaper isn’t always better, of course, but busting the Whole Paycheck image Whole Foods seems to be complementing their business module quite well. Zel Bianco, CEO of Interactive Edge, commented:
It’s really a great thing what Whole Foods is and has been doing in regards to providing great products at low, reasonable prices; especially in places where cost of living is high like Manhattan. It just goes to show that just because a business is meant to make money, that doesn’t mean a company can’t make money while providing genuine great service to its customers. Whole Foods’ strategy is definitely a balancing act considering their costs related to revenue; as according to the company’s CEO, this has been the 10th consecutive quarter where the company’s costs were higher than its retail price increases. However, I strongly believe that with good strategic risk management and great promotional marketing Whole Foods’ strategy is a winner.
Whole Foods sure seems to be excelling in Manhattan, but how does this compare to your town?
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