Wolfe's Market owner Tom Wolfe was interviewed by The Business Press as part of an article on how the slumping economy has hurt grocery industry. The article, by Joseph Ascenzi, said that sales at Wolfe's are down 20% in the past two months.
The article reported:
Certainly the slumping economy - particularly the high price of fuel - is having an impact on sales, but the 90-year-old grocery store and delicatessen at 160 W. Foothill Blvd. also faces new competition from Trader Joe's and Sprouts Farmers Market, both of which opened within blocks of Wolfe's Market since last summer.
"My grandfather made it through the Great Depression, and I don't think this will be as bad," Wolfe said. "We'll be OK, we aren't going anywhere, but right now it's hard to pin down why this is happening. There have been stories about people cutting back on food purchases because of the price of gas, but I haven't seen it. At least I can't prove that's what's happening now."
"That bothers me because with our customers, if they want something, they buy it," Wolfe said. "But they will also drive an extra mile if they think they can get a better price on something. If it turns out our sales are down because of competition, then we have to fight to get them back. That's the way it is in this business. If it's more than competition, then I won't even try to predict when we'll come out of it. Economists can't do that."
The Claremont Courier's Tony Krickl also had an article back in March about the adjustments Wolfe's is having to make with the opening of Sprouts Farmers Market last year and the new Trader Joe's, which just opened last month:
Amid heavy competition in Claremont’s specialty food store market, family-owned and operated Wolfe’s Market is set for a major overhaul. With plans to cut back on groceries and display space to make way for their growing lunch and dinner operations, Wolfe’s management hopes the changes will help weather the threat from competition and launch the store into the future.
Wolfe’s has been a fixture of the Claremont community for as long as anyone can remember. When John Wolfe first opened the store in 1917, it mostly catered to travelers along Route 66, with a full service gas pump station and a deli cafe. Over the years, the store has tinkered with its services and identity, reacting to market forces and the desires of its regular customer base.
Wolfe's Market
160 W. Foothill Blvd.
Claremont, CA 9i711
(909) 626-8508
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