Beloved grocery chain with over 380 stores set to make major expansion next year and unveils its new loyalty program

A MAJOR expansion is in the works for a popular supermarket chain.

Sprouts Farmers Market, which has over 380 stores, announced plans to open 40 new locations in 2024.

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According to Grocery Dive, CEO Jack Sinclair attributed the company’s confidence boost to the success of the 30 stores expected to open this year.

This growth includes the most recently opened location in Haddon Township, New Jersey, which marked the chain’s 400th location.

SPECIAL FOODS ARE RISING IN POPULARITY

The grocer plans to focus on new and established markets with its new convenience store model, Sinclair said.

He praised their specialty foods and natural products in California, Arizona, Texas and Florida as “key drivers.”

However, success is not linear, and Sprouts had to close 11 locations earlier this year.

For some underperforming stores, size was a factor, particularly the need to sell more inventory to finance such a large footprint.

CAN’T STOP, WILL NOT STOP AT BRICKS AND MORTAR

Aside from brick-and-mortar retail, Sprouts also plans to gain a foothold in e-commerce.

That plan is already in action, as the supermarket chain welcomed Jim Bahrenburg as its first chief technology officer.

Sprouts customers can also expect the launch of an enhanced loyalty program that can provide feedback and optimize the supply chain process.

Although the company still has a long way to go before it can compete with retail giants like Walmart or Target, its physical presence and online capabilities have steadily increased over the years.

All is not well for the food retail sector

Due to unforeseen factors such as theft or low profits, supermarkets experience varying success regionally.

Two Save A Lot locations in the Kansas City area have been closed due to rampant shoplifting.

Lidl also closed two locations in New Jersey earlier this summer, which even caught the attention of the mayor. It was part of the chain’s closure of five stores.

Meanwhile, an Aldi grocery store was given a new lease of life after it closed.

And look at all the supermarkets closing their stores in September.