Fairway Market maintained a 10% price advantage over Whole Foods Market and The Fresh Market in a recent basket study of 40 like items at natural and organic retailers conducted by investment analysts at Sterne Agee.
The report, released Thursday, added that Whole Foods had a narrow pricing advantage on The Fresh Market, indicating Whole Foods’ efforts to reduce its retail prices are already beginning to show while highlighting increasing use of promotions at Fresh Market.
The pricing study was conducted in stores in Northern New Jersey and consisted of branded and private label items across produce, beverages and food.
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Fairway’s total basket price of $142.31 was the lowest of the three stores by 10% — boosted by a sizable advantage in produce prices caused by two additional sale items in the basket. Whole Foods’ basket totaled $155.37 — 1.5% lower than Fresh Market’s $157.79. This difference was reflected in lower retails in food and beverage, offset in part by produce prices that were 5% higher than those at Fresh Market, the report said.
The report noted The Fresh Market continues to add new promotions, including “Date Night Double Dozen” offering a dozen roses and a dozen chocolate dipped strawberries for $15. “While this promotion is very limited in scope, it still offers customers a savings of $9.99 or 40% the regular retail price,” the report said.
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