ORLANDO – First announced this May, Whole Foods is planning to launch a new, lower-priced store format to help broaden the grocer’s appeal and diversify its brand, while attracting younger shoppers.

The Orlando Business Journal recently wrote about this new development, focusing on the strength of the region’s niche grocery market, in which new concepts “are jockeying for space in key submarkets to capture a piece of the action.”

Orlando recently hosted the International Council of Shopping Centers Florida Conference, at which Whole Foods shared insights on the upscale grocery chain’s new “off-price” 365 by Whole Foods Market concept that’s now in development. Jim Sud, executive vice president of growth and business development at Whole Foods Market, did not specify whether any of these concepts are slated for Florida, but the company has previously said it plans to open its first five 365 locations in 2016 and double that number in 2017.

“For most people, at least historically, grocery shopping ranked up there with taking out the garbage,” Sud said during the panel discussion at the ICSC Florida Conference, as reported by Orlando Business Journal. “At Whole Foods, we’re trying to create an environment where people enjoy coming in to go shopping.”

According to Sud, here’s some of what shoppers can expect from the 365 concept:

• The format will be geared more toward Millennials, heavy in technology and social media tools, things the company believes will appeal to that generation. In fact, Whole Foods as a company overall is investing more into technology, with a focus on offering more of an interactive in-store experience.
• Some of the new stores will be ideal for underserved grocery markets, where lower-income residents don’t have a lot of options when it comes to fresh food, including in food deserts.
• The store sizes will range 25,000-35,000 square feet, which is well below Whole Foods Market’s sweet spot of about 45,000-50,000 square feet. The smaller stores will have an accordingly smaller offering, with a focus on value over variety.

Attendees at next month’s NACS Show in Las Vegas will have the opportunity to gain additional business insights from the highly successful grocer, as Whole Foods Co-CEO and Co-Founder John Mackey leads a general session presentation on Tuesday, October 13.