Connect with us

Business

Whole Foods Opens Englewood Store To High Hopes

Published

on

Whole Foods is expanding into new markets (and unfamiliar territory) by moving into low-income neighborhoods. Can the company, often nicknamed “Whole Paycheck” for its high-end inventory (and prices) expect to survive in an area where residents can’t afford the usual Whole Foods price tag? Will the store thrive or starve?

Whole Foods Opens In Englewood

Whole Foods for years has focused on fresh, local produce and high-end, healthy foods to stock its shelves. With that freshness and quality comes a hefty price tag – which is why the company has always operated in high-end markets with disposable income. Now, the Austin, TX – based grocer is partnering with one of the poorest districts in Chicago as a testing ground to test the feasibility of Whole Foods in low-income areas.

But can it work?

Whole Foods Market has opened its latest Chicago location in the South Side neighborhood of Englewood, one of the most economically depressed areas of the city. The new store is the result of three years of collaboration between the grocer and community stakeholders and represents a bright hope for the community itself. Englewood residents and Whole Foods executives have held a two-way dialogue to make sure the new store doesn’t just reap profits from the community, but helps, as well.

Whole Foods spoke with residents, schools, local businesses, community groups, and nonprofits, and came to focus on ease of access for food, community engagement, and, above all, economic development and employment. There’s a lot of hesitation as to whether Whole Foods can survive in this environment, but so far the store is doing everything it can to live up to its word. The retailer worked with the community to identify 30 different dietary staples for residents, such as eggs, bread, and milk, will sell at a cheaper rate than other Whole Foods and even some other competitors. The store is also is donating food to community events and activities, and has awarded garden grants to eight Englewood schools to help build or enhance campus food gardens.

The question remains, can this work?

Absolutely. Whole Foods won’t have all the bells and whistles at the Englewood location. There won’t be a wine bar or gelato stand or some other luxury staples of high-end Whole Foods locations. But operating costs will be lower. As will the cost of rent.

Whole Foods is looking to show a business can make a profit and stay ingrained as part of the community. If this experiment proves successful, Whole Foods instantly gets a huge advantage over other grocers when looking to come to low-income areas. Support will be rampant and government subsidies will be plentiful. But as for how to gauge that success … Only time will tell.

Watch what Whole Foods Englewood store for us!

Keep an eye on the Englewood Whole Foods. If it does well, expect Whole Foods Market, Inc. (WFM) shares to make an excellent long term play.

Snap Preps For The Biggest IPO Since 2014. Read the news here!

Follow us on Facebook and Twitter for more news updates!


The statements, views, and opinions of any article, contribution, editorial, or advertisement in this publication are not necessarily those of The Capitalist or its editorial staff, and are not considered an endorsement, sponsorship, or recommendation of any referenced product, service, issuer, or groups of issuers.

This publication provides general information about certain subjects, and should not be construed or taken as advice (legal, financial, investment, tax, or otherwise). Do not construe or take any information in this publication as a solicitation, offer, opinion, or recommendation to buy or sell any securities, bonds, or other financial instruments or to provide any legal, financial, investment, tax, or other advice or service about the suitability or profitability of any financial instruments or investments.

The Capitalist disclaims any liability for the accuracy of or your reliance on any statements, views, opinions, or information in this publication.


Featured Image Via Brandis Friedman/Chicago Tonight

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Continue Reading

Copyright © 2023 The Capitalist. his copyrighted material may not be republished without express permission. The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this page and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. This website contains advertisements.

Is THE newsletter for…

INVESTORS TRADERS OWNERS

Stay up-to-date with the latest kick-ass interviews, podcasts, and more as we cover a wide range of topics, in the world of finance and technology. Don't miss out on our exclusive content featuring expert opinions and market insights delivered to your inbox 100% FREE!

SUBSCRIBE TODAY AND GET A FREE GIFT

Get ready to stay up-to-date with the latest business and market news from around the world!

The Capitalist is here to provide you with insightful data, analysis, and even videos to keep you informed.