Whole Foods Doing Poorly in Hard Economy
July 14, 2009 by Jennifer Chait
Filed under Green Living
A new Forbes report notes that Whole Foods is not doing oh so well due to hard times all over. According to the report, Whole Foods “Will take part in a program to confirm it only sells products that have not been genetically modified. The rally follows a 25% drop in Whole Foods’ stock price, from a near-term high of $22.72 on May 4, amid concerns about Whole Foods ability to retain shoppers as the recession drags on.”
It’s not that sad of news to me. Frankly I was bummed when Whole Foods bought out Wild Oats Market, another natural food market, but with their own brands and lower prices. I’m betting part of the reason they’re doing poorly is because it does cost more to shop at Whole Foods. Consumers can’t take it right now. Plus, once I go into a store and see that their prices are higher I don’t often check back just for kicks in case they lowered costs.
This comes after the general news that organic foods have taken over as the fastest growing segment of the food industry which goes against the issues Whole Foods seems to be having. And just to muck things up more a new report recently called out organic labeling as insufficient and not as useful to consumers as it could be. The organic food industry is hot news with big problems it seems. BUT people are still buying, I think they’re just making smarter choices. You don’t have to shop at Whole Foods, and consumers know it. Farmers Markets, general grocers, and online food retailers serve up organics for less.
What do you think? Do you shop at Whole Foods or not. Do you even buy organics right now? Why or why not?
[image via morguefile]
The Whole Foods in my city is always crazy busy, but maybe that’s because it’s the only one for miles and miles and miles.
I shop more often at Fresh Market, which is closer to my home. It does cost more, so I don’t always buy organic everything. I’ve also noticed that major grocers like Kroger are now carrying their own private organic brands for less than name brands. That may have something to do with Whole Foods’ struggle.
I like Whole Foods but due to budget I’m shopping at the local grocery store. Just can’t afford the higher price of organic right now.
Whole Foods is a long way from home for me. If I happen to be in the area, I’ll go in and check things out. I buy with coupons from a green coupon book and their specials can be competitive. I prefer a local co-op, PCC because, well, it’s local and they seem to get more produce locally. I’m no longer shopping for a big family, just my husband and myself, but I find I’m shopping a lot smarter than I used to. I do buy organic fruits and veggies and in general they are more expensive, BUT, I buy less because I don’t want to waste any. I make meals where what I do buy goes farther, filling in with less expensive items. For example, I used to use a whole avocado in one salad for one meal. Now I buy one and it lasts a week. That sort of thinking really can make a difference. I want to support organic and local farmers even when the economy is in the doldrums. I’m shopping less for other stuff and concentrating on making my $$$ go farther in these ways.