Whole Foods CEO Jason Buechel joins Yahoo Finance Editor-in-Chief Brian Sozzi to discuss the company’s growth plans, in-store technology enhancements and new product offerings during the Milken Institute Global Conference in California. Dig into things like that.
Buchel highlights the company’s recently announced 10-year vision, “Growing with Purpose,” in January. The initiative aims to reconnect the company with its core values. Buchel said he expects to increase customer engagement and expand the company’s reach. And ultimately, grocery stores allow us to “feed the people of the planet, which is our higher purpose.”
Buchel emphasized that Whole Foods recognizes the challenges posed by inflation and is actively working with its suppliers “to minimize this impact.” The company also aims to combat consumer inflation by investing in its own private labels to offer quality products at value-driven prices. But Buchel said Whole Foods is known for the quality and sourcing of its products and that the company strives to balance delivering value while allowing customers to “at the same time appreciate the effort that goes into it.” He admits that he is aiming for
On the expansion front, Buchel expressed pride that the grocery retailer opens more than 30 new stores a year, with 75 currently scheduled to open. The expansion is being driven by customer interest and the company’s plans to test new store formats, including the Whole Foods Market Dairy Shop concept.
When it comes to technology advancements in stores, Buchel highlights the introduction of Amazon’s (AMZN) Dash Cart, which allows customers to pay for groceries while shopping, saving time. He emphasized that the company’s approach to technology implementation is driven by a desire to “simplify business operations” and create a more productive and seamless customer experience.
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This post was written by angel smith
