by Christopher Freeburn | August 23, 2013 11:36 am
Shoppers at Whole Foods Markets (WFM) can expect to see more discounts, something usually associated with less upscale supermarkets.
The chain is adding more single-day sales on selected products and will introduce “flash” sales, lasting just hours, on certain items. Customers will be alerted to “flash” sales by postings on social media platforms like Facebook (FB) and Twitter, the Wall Street Journal notes.
Whole Foods is adjusting its sales practices to compensate for changing consumer spending habits in the wake of the recession. The chain is trying to move away from its branding as a vendor of high-priced organic foods for upscale consumers. It has launched a number of new stores in areas with less wealthy demographics and has added lower-priced produce and frozen foods.
The chain is also facing surging competition from other grocers offering organic products aimed at health conscious shoppers.
In May, Whole Foods announced a 2-for-1 stock split, increasing its number of its outstanding shares to 370 million.
Shares of Whole Foods Markets slipped almost 1% in Friday morning trading.
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