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Why Whole Foods' plan to open a cheaper store could backfire

Whole Foods is opening a discount grocery store targeting millennials. The new chain is meant to fend off growing competition in the organic foods market. But the cheaper prices could end up hurting Whole Foods' existing stores, according to Deutsche Bank analysts. "It could backfire if price points are materially different, because an obvious price spread between the two formats could create doubts with their existing loyal customer base, and this could lead to erosion of their very strong brand equity," analysts write in a recent research note.
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