Whole Foods Market Sets Sights on Urban Areas
by William White | September 9, 2013 11:32 am
[1]Whole Foods Market (WFM[2]) plans to open a store in Englewood, a neighborhood on the south side of Chicago, in 2016[3].
The decision to move into Englewood came after 14 months of discussions with Mayor Rahm Emanuel. Englewood is considered a food desert. The neighborhood has few retailers, an unemployment rate of 21% and 42% of households live below the poverty line. Whole Foods is known for its healthy, but pricey food, which makes the move into Englewood a strange one. The company may make some changes to its brand in an effort to appeal more to the area’s residents. The changes could include relying on its in-house products, selling in bulk and pricing fruits individually, rather than by the pound, reports The Atlantic Cities.
Whole Foods decided on the Englewood neighborhood after discussions of putting stores at two other locations[4] didn’t work out.
- [Image]: https://investorplace.com/wp-content/uploads/2012/05/WholeFoods.jpg
- WFM: http://studio-5.financialcontent.com/investplace/quote?Symbol=WFM
- 2016: http://www.theatlanticcities.com/neighborhoods/2013/09/can-whole-foods-remake-itself-middle-food-desert/6795/
- two other locations: http://articles.chicagotribune.com/2013-09-04/business/chi-whole-foods-englewood-chicago-20130904_1_foods-market-whole-foods-food-desert
Source URL: https://investorplace.com/2013/09/whole-foods-market-sets-sights-on-urban-areas/