AUSTIN, TX - Whole Foods Market may have just finished opening 5 new stores across the United States and Canada, but don't let that fool you into thinking the retailer plans on taking its foot off the gas any time soon. According to The Times Picayune, the natural foods retailer plans on beefing up its store base with 40 new locations next year alone. Guru Focus goes even further, revealing that the retailer plans to fly by the 500-store mark by 2017.
Co-CEO Walter Robb doesn't just think of growth in terms of store expansion however. He explains that his strategy to staying relevant in the ever-changing and fiercely competitive retail market is comprehensive, keying in on all the aspects that matter for a successful national chain. Just one part of this strategy is a continual focus on offering the best price point possible on the market.
"You've got to be relevant on price in order to get your message across about quality," Robb said.
In this regard Whole Foods has enjoyed a lot of success. It has even gone so far as to become a “discount option” in some New York markets, as ANUK revealed in a previous story.
Robb also discussed Whole Foods' focus on innovation, including its partnership with the delivery service Instacart, new rewards program, as well as the launch of the first national marketing campaign in the company's history.
"There comes a time when you have got to defend your brand," he shared. "If you don't go out there and get your message out about who you are, the market will define it for you."
Only time will tell how successful Robb's future growth strategy will be, but it is hard not to share his optimism for the retailer when you listen to the confidence with which he speaks. For Walter Robb and many of the Whole Foods faithful, the future is an exciting place for this retailer.
