AUSTIN, TX - Earlier this week, 365 by Whole Foods Market™ announced the opening date for its highly-anticipated first location, choosing May 25th for its Silver Lake neighborhood of Los Angeles debut. Designed to accompany the Whole Foods brand by bringing fresh, healthy food to a younger, maybe less-affluent demographic, 365 has hopes to streamline and curate its products specifically to maximize that target market.
As reported by the Washington Post, Jeff Turnas, President of 365 by Whole Foods Markets, said he and his team have “looked and turned over every stone to find efficiencies…. We’re not putting as much capital into these stores as we would a traditional Whole Foods.”
This means taking steps to lay out the stores to reduce work and stocking times, and creating cheaper, simply designed displays—all in an effort to keep product pricing down. Even providing fewer product options is on the agenda for these stores that are expected to be only about 30,000-square-feet, compared to the 40,000 to 50,000-square-feet that is typical for a Whole Foods.
“Rather than 50 or 60 olive oils, we’re going to have 10,” Turnas said about his strategy to streamline the company’s stock of products. “But they’re going to be well-represented from around the world and [different] price points.”
Another big key difference is an emphasis on “prepared foods” and foodservice opportunities. The Washingon post reports that Turnas refers to 365’s program as “a little more get-it-yourself, self-serve” than what you see in a traditional Whole Foods. 365 is also introducing a program called “Friends of 365,” in which it will give other retailers or foodservice companies their own independent retail spaces inside of various locations.
“We’ve really dedicated ourselves to partnering with like-minded companies that are doing new and interesting things in their respective field to bring a truly unique shopping experience that complements our thoughtfully curated selection of foods,” Turnas added in a press release.
The first store in Silver Lake will include a 1,245-square-foot vegan fast-casual restaurant called Chloe, a 396-square-foot Allegro Coffee Company bar that will serve craft coffee and beer, and a self-serve kiosk called TeaBot that allows shoppers to mix up to three of 18 different teas and herbal ingredients. Shoppers will also be able to order online and get delivery services through Instacart, the company says.
As Whole Foods plans to open two additional 365 locations in 2016, and another 10 in 2017, the company looks to be trying to take on a significant part of the retail space in the near future. As more information on the developing chain in released, be sure to check back with AndNowUKnow for the latest.
