Well Being

Whole Foods Doing Poorly in Hard Economy

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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.

organic food market

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]