whole foods

“Whole Foods Market, the upscale grocery store sometimes derided as ‘Whole Paycheck’ for its prices, is planning to launch a new chain of lower-priced stores for people who can’t otherwise afford to buy its premium and organic food.” Check out the link to the full article here.

This is awesome news for those who want to eat clean, healthy and organic food but struggle with being able to afford it. The decision was apparently made because Whole Foods stores are losing market share to stores like Fresh Market and Kroger. My question is why not simply lower the prices at the existing Whole Foods stores versus opening an entire new chain of stores? What do you think of this move by Whole Foods?