Despite opening a new, hipper version of its typical stores, Whole Foods doesn’t appear to be making much headway in turning around its slumping sales. In fact, customers are actually heading to discount retailer Aldi. But why?
Bloomberg reports that stores like Aldi and Trader Joe’s (who are strange corporate cousins through their Germany-based parent companies) are capitalizing on Whole Foods’ weaknesses — namely their expensive price points — and offering similar, more affordable products that garner the attention of shoppers, including the always coveted millennial demographic.
