Costco has been selling more organics foods than Whole Foods since 2015. Meanwhile Whole Foods has been hurting after same-store sales declines for over a year now. Writing at Well + Good, Emily Laurence explains how Costco became the new king of organics:
Whole Foods may win the prize for the most recognizable retailer when it comes to organic food, but the top honor when it comes to market share actually goes to…Costco.
Yup, the chain best known for its bulk stock and low prices reported $4 billion in organic food sales last year—that’s billion with a B. Whole Foods, by comparison, racked up about $3.6 billion in certified organic sales.
And this shift could have a major impact on you (and your healthy habits), even if you’re not a card-carrying member. For one thing, it’s proof that food shoppers across the board are prioritizing organics. And in other exciting news, it shows that it’s possible to sell certified organic produce (COP) at a competitive price—crucial for closing the healthy food gap.
But perhaps most importantly, the mega-retailer is literally redefining the organics landscape—there are now Costco-owned organic farms to help the company keep up with demand. Plus, the brand is lending money to farmers to expand their output.
Does this mean that a Costco membership is about to be as coveted as an American Express black card?
Read more here.
Latest posts by Dick Young (see all)
- No Second-Guessing, No Deviation from Focus - May 17, 2019
- Avalanche! It Is Astonishing How Your Money will Pile Up - May 10, 2019
- The Most Frequently Asked Investor Question - May 3, 2019