We first caught wind of 365 by Whole Foods while browsing through Fast Company magazine’s “100 Most Creative People in Business” June 2016 issue. Interestingly enough, we then caught a second wind when Juicero tweeted about juicing at the 365 by Whole Foods grand opening in the Silver Lake section of Los Angeles, CA on Wednesday May 25, 2016.
As they say, “Hearing things twice is just as nice.” (Okay, this may not always be the case) but regardless, we decided to revisit our issue of Fast Company and dig a little deeper into what the 365 by Whole Foods launch is all about!
Coming in at number 51 on Fast Company’s 2016 #MCP list is Jeff Turnas. Turnas is a 21-year Whole Foods veteran who was appointed to take over the new 365 by Whole Foods helm as president. “With Whole Foods’ same-store sales slightly declining, 365 by Whole Foods is an effort to compete with value-minded stores such as Trader Joe’s, Sprouts, and Fresh Market. These stores predominantly cater to younger and less affluent shoppers” says Sarah Kessler of Fast Company. “365 by Whole Foods is hoping its new brand will appeal to a broader demographic and fit into neighborhoods that might not support a higher-end store.”
365 by Whole Foods will offer a simple design and streamlined products (Whole Foods’ own 365 line) in an effort to mitigate operational costs and lower prices for customers. However, what really caught our attention in particular is 365 by Whole Foods, “Friends of 365” program.
Friends of 365 is an entrepreneurial move developed by Turnas to incorporate a sense of localized, independent, and creative entrepreneurial spirit by installing third-party vendors inside of its 365 by Whole Foods stores. As mentioned by Kessler, “The Silver Lake store features a café by Allegro Coffee Company and a NYC based vegan-burger restaurant, By Chloe” which of course happens to be one of our favorite vegan spots in the city!
According to Kessler, 365 by Whole Foods expects to launch 3 stores by the end of the year and another 10 in 2017. It is estimated from various sources that Whole Foods has signed ~ 16-19 leases for 365 stores around the United States. We don’t know about you, but we’re definitely looking forward to welcoming them to the east coast when the time is ripe (pun intended)!
Do you think that 365 by Whole Foods may turn out to be the youthful version of the traditional Whole Foods for budget conscious health-focused millennials? We guess we’ll have to wait and see!
Word Around The Web:
- The 365 supermarkets are intended to appeal to younger shoppers and millennials who value quality foods but often have less disposable income. – Courtesy of Samantha Masunaga at Los Angeles Times
- Executives are hoping young people will want to hang out at the store, rather than just shop. – Courtesy of Hayley Peterson at Business Insider
- Turnas says the “hangout” factor is what will set 365 apart from its competitors. “Nobody hangs out at Trader Joe’s or Kroger,” he said. – Courtesy of Hayley Peterson at Business Insider
- 365 has plenty of eye-candy, which may prompt some millennials to get snap happy on Snapchat and Instagram. – Courtesy of Aimee Picchi at CBS News
- Whole Foods said recently it has signed 19 leases for 365 stores around the United States. – Courtesy of Lisa Baertlein at Reuters
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