- The Fresh Market will shut down five stores in the upcoming weeks, according to Supermarket News. Stores are closing in Livingston, N.J.; Woodbury, N.Y.; Ashburn, Va.; Altamonte Springs, Fla.; and Kildeer, Ill.
- The retailer also will rollout its new store format to additional locations in an attempt to reposition itself as a more mainstream grocer.
- The company said the new and remodeled stores will include a larger selection of local items and more traditional grocery offerings, such as pet and baby products, and offer an increased emphasis on sharp pricing.
The Fresh Market’s most recent round of store closures arrives about a year after it said it would close 18 stores, including all of its locations in Texas, Iowa, Missouri and Kansas.
However, its goal is to invest some of its financial savings in a new store format that it hopes will eventually bring the retailer back to once winning ways. With the introduction of its new and remodeled stores, The Fresh Market is counting on shoppers who want more of a traditional grocery experience with reduced pricing.
Considering the success of discount retailers during the last year, this could be a good strategy. Whole Foods has been having trouble with sales as its prices are deemed too high by some consumers and other chains like Kroger have boosted their natural and organic offerings to meet shopper demand. The Fresh Market is hoping to better distinguish itself as a place where prices are low but fresh products are still in ample supply.
What the company is doing is nothing new. Many grocers are out there trying to deliver more local, natural/organic and cheap products, so The Fresh Market must rely on a combination of keeping its established customers happy and finding ways to bring new shoppers to the store. Holding special promotions and having its staff work on being friendly, helpful and inviting are ways it can do that. If The Fresh Market struggles, it could become just another grocery chain where organic and natural foods are now the norm. One positive, it's owned by Apollo Global Management who took the company private last year, giving the grocer time and room to do things that would be harder to do in the public spotlight.