The days of settling for 16-cent breakfasts may be ending — that is, if Whole Foods makes good on its promise to lower prices.
The Wall Street Journal reported on Sunday that the Texas-based company is taking steps to put its expensive, “whole paycheck” reputation behind it due to pressure from investors who want the organic grocer to behave more like Walmart. However, experts warn shifting to a similar centralized distribution structure could tarnish the brand, which sells locally grown produce.
The company’s in deep water with stakeholder Jana Partners, which wants to see swift operational changes and a reversal of what the Journal described as Whole Foods’ “longest stretch of same-store sales declines since going public in 1992.”
For consumers, that means Whole Foods will be pressed to compete with the likes of Kroger and Albertsons, which have steadily been dipping their toes in the health-conscious market, and that prices will drop.
“Our culture is still very unique,” co-founder John Mackey assured the paper, but the company now has a tall order to mesh its style with big-box performance.
What that will look like in practice remains unclear, though Mackey said the new strategy will make it easier for national brands to pitch at Whole Foods’ Austin, Texas, headquarters, which in turn will enable the company to pass on “tremendous savings” to shoppers. For now, the future of Whole Foods — and its prices — are hazy at best.
How to Save at Whole Foods
Most Whole Foods shoppers are used to paying a premium for their health-conscious food. But there are ways to save on your groceries when shopping at Whole Foods, as Credit.com contributor Kristy Welsh notes. Here are a few of her tips.
BYOB. Bring your own sack to shop, and Whole Foods will give you up to a 10-cent discount on your purchase. Shop weekly and use five bags each time, and you could save $26 over the course of the year, Welsh said.
Buy What You Need. Don’t hesitate to ask the butcher to take out one of those steaks in the pre-wrapped packet. Or to ask the baker for a half loaf of rye. They’ll do it for you, and the price will be cheaper as a result.
Download the App. With coupons and weekly sales in one place, the Whole Foods app is a handy resource for on-the-go savers. You can also check for upcoming sales.
If all else fails and you still find the price of your groceries too high, a rewards credit card can help you earn points for spending — and there are even some that offer higher rewards when you purchase groceries. Just don’t forget to check your credit before you apply to make sure you’re able to qualify, as these types of cards tend to require you have higher credit scores. You can view two of your credit scores for free on Credit.com.