Why Whole Foods suddenly loves Canada
For years, Whole Foods was the undisputed king of the granola crunching set in the United States.
But these days every food retailer sells a helping heap of natural and organic foods. Even Walmart.
No wonder then that Whole Foods is turning its attention to Canada. The company recently opened its 10th store here, in Ottawa.
READ: Nothing added in natural supermarkets, except sales
At that opening, Co-CEO Walter Robb said that he’d like to open another 30 stores in this country.
Is Robb’s plan a wise one? Perhaps. An article on the financial website The Motley Fool breaks down some reasons why Canada is now attractive to Whole Foods.
For one, Whole Food’s international business, which consists solely of stores in Canada and the U.K., has grown faster than the company’s U.S. sales.
Canadian and British sales for 2010-2014 rose at a compound annual growth rate of 14.74%. CAGR sales in America during the same period lagged: up 11.96%.
Another reason Whole Foods may be looking outside the U.S. is due to the intense competition there among natural supermarkets, with grocers such as Sprouts and Trader Joe’s attracting shoppers that may once have gone to Whole Foods.
Read the full Motley Fool story here.