Yeah, we don't fully believe it either. But apparently everyone's favorite, expensive, bougie grocery store is working towards lowering prices in Whole Foods stores.
CEO John Mackey has said that the nickname "Whole Foods, Whole Paycheck" is "fundamentally a myth," yet he must be superstitious, because he just hired an executive from Target to spearhead the project over lowering in-store costs.
According to Grub Street, the project hopes to "centralize purchasing in order to lower the grocery chain's prices". And we're hoping that's not a myth.
The downside to finally getting an answer to all of our customer complaints about high costs? According to the Wall Street Journal, lower prices could mean a lower selection of products in stores.
This may actually be a good thing, however—According to Sheena Iyengar in her Ted Talk on decision making, consumers are happier when there are less options. And happy customers buy more. So actually, this is a good thing for Whole Foods. Maybe we'll end up spending our whole paychecks, after all.
Also on the table for restructuring is the company's current practice of dividing it's stores into 11 different regions.
This allows for stores to stock goods locally, and or a larger variety of more niche, regionally specific products to be offered.
If they choose to switch to a one city headquarter system mirroring that of Walmart's, it may be easier for national brands to pitch their way "Shark Tank" style into the coveted aisles of Whole Foods, but the chance for shelf variety, and the personal touch each Whole Foods currently has, could be lost.
Whichever way the organic cookie crumbles, we're always grateful for a discount in the Big Apple.[Feature Image Courtesy Slate] [via Grub Street]