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Whole Foods Might Not Survive 2022. Here's Why - YouTube
Channel: Mashed
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whole foods is owned by amazon so it
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shouldn't have any business difficulties
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at all right well maybe not what's
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causing this health-focused supermarket
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chain to falter keep watching to find
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out while there are no immediate signs
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that your local whole foods market may
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be closing the company is facing some
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obstacles going into the new year whole
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foods can trace its roots back to 1978
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when it started in austin texas as a
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single store called safer way as the
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idea of healthier eating became
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increasingly mainstream the grocery
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chain grew and today there are more than
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500 of the upscale organic and natural
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foods focused stores in north america
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and the uk the company's website notes
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in 2017 amazon acquired whole foods
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slate reports that the purchase led to
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an influx of investment in grocery
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delivery as competitors strive to match
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whole foods service however as
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mainstream grocery giants such as kroger
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used their buying power to compete whole
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foods lagged global data managing
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director neil saunders told marketwatch
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even though the pandemic gave whole
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foods home delivery a boost the brand's
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brick and mortar stores have seen a
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considerable downturn with first quarter
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sales falling by 16 in 2021 versus those
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in the prior year another problem facing
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whole foods is the chain's lack of an
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independent online presence unlike its
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competitors whole foods customers must
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have amazon prime to have access to its
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online ordering pickup and delivery
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services although more than 142 million
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people in the u.s have prime
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subscriptions according to 99 firms that
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still leaves a whole lot of people
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without the ability to buy from whole
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foods online compounding the problem is
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that those who take advantage of online
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shopping at whole foods could make the
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in-store experience more difficult for
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others prime shoppers whose job it is to
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fulfill online orders make for crowded
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stores and longer lines according to
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retail wire an analyst the news outlet
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spoke to called shopping in some whole
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foods stores a nightmare because of all
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the order pickers another challenge
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facing the company according to retail
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wire is that given its huge parent
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company the brand has lost much of its
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reputation for buying and selling local
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products at one time that attribute made
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the chain very appealing to its
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customers but in recent years the
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company has shifted to a more
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centralized purchasing model more like
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the mainstream supermarket chains do it
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this has left less shelf space for
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locally grown or produced products the
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grocer has taken steps over the last
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year to recommit to selling local
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products but its reputation for offering
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foods from customers home regions has
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taken a hit finally whole foods has long
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dealt with a reputation for high prices
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as organic foods become more mainstream
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with organic products populating shelves
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even at discount grocers such as aldi
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whole foods will lose some of its
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customer base retail wire theorizes the
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value equation is simply not on the side
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of whole foods global data managing
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director neil saunders told the outlet
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and its customer service reputation
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doesn't help saunders said customer
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service is often better at target and
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walmart than at whole foods where too
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many staffers are surly which undermines
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justification for premium pricing
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according to the philadelphia inquirer
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whole foods has been struggling to keep
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up with other businesses amazon's
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business model promotes staying home and
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having items delivered often at slightly
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reduced prices despite being owned by
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amazon whole foods way of doing business
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may not be conducive to the new normal
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of customers buying groceries online
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more often and heading to the grocery
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store less an october 2020 grocery dive
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report found that whole foods in-store
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traffic hadn't recovered during the
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pandemic even as foot traffic has
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increased at competitors such as trader
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joe's amazon's amazon fresh which has a
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model seemingly better suited for the
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pandemic era is also still going strong
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grocery industry consultant bill bishop
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told the philadelphia inquirer that
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amazon's purchase of whole foods may
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have been a strategic error for the
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company another industry expert michael
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malouf from earnest research told the
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outlet everyone is buying more
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everywhere but total customers are
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actually down for whole foods whole
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foods is in a uniquely horrible place
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whole foods meanwhile responded to the
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inquirer in a statement whole foods
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market continues to grow and we strongly
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dispute this portrayal of the health of
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our business in addition to offering a
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safe in-store shopping experience we're
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proud we've been able to rapidly expand
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grocery delivery and pick up to meet the
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needs of customers amazon has deep
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pockets of course and could keep whole
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foods afloat for quite a while to come
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but if the parent company loses faith in
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its supermarket subsidiary things could
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get pretty bad pretty quickly
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check out one of our newest videos right
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