Much More Than Just a Name…

JerryGolubCEO

Delivered By: Jerry Golub, President and CEO

November 11th, 2014

There have been times during our history when we’ve needed to make some bold decisions in order to continue to meet our customers’ needs, and to evolve as a company.  Today we are pleased to announce a major plan to modernize our stores, and some important implications of that plan.

As our customers continue to change, it’s become clear to us that our stores need to change with them.  Over the past two years, we’ve been working on a new store design that we feel will reflect and address those changes, and help us meet our customers’ needs better than ever before.  Our new design has been significantly influenced by the early learnings we’ve gained from our Market Bistro store, but is much more scalable; in other words, it can be applied to a wide range of different store sizes and locations.

With 135 stores in six states, modernizing our chain with this new concept will be a big undertaking, but we believe that it’s absolutely necessary for our continued long-term success.  That’s why we’re proud to announce today, that we’ll be investing more than $300 million over the next five years to transform our stores, with more to follow in the future.  Nearly a third of that amount will be invested in the greater Capital Region.

Inspired by information we’ve received from our customers, as well as trends that are defining their current and future preferences, we’ve created a more modern grocery shopping experience.  In fact, this new design is so different from our current approach that it will necessitate a complete rebranding of our stores.

While low prices will continue to be at the forefront of everything we do, we’ve been told by our customers that our current name does not properly reflect many of our other strengths—strengths that will stand out even more in our new stores.

As a result, we’ve decided that our rebranding will also include a name change.  The name we’ve selected reflects our long heritage as a family led business. It’s also a name that we feel will be memorable, and can evolve with our company and brand over time.

As each store is changed over to our new design, its name will also change… to Market 32.

As I mentioned, the new name is a reflection of the fact that our company was founded by Ben and Bill Golub back in 1932.  We’re very proud of our heritage and the fact that we’ve been part of this great community for the past 82 years, and there’s no better way to express that pride than by reflecting it in our new name.

So, how will our new stores be different?  Market 32 will build on our traditional strengths, including great fresh food departments, locally grown products and, of course, delivering excellent value.  In addition, it will offer a more contemporary, relevant shopping experience characterized by a number of improvements:

  • It will have a completely new look and feel with a distinct personality that will help make shopping more interesting and enjoyable
  • We’ll offer an increased variety of locally sourced products
  • There will be an even greater focus on health and wellness, combining food, non-food, and pharmacy to create a destination that serves all our customers’ needs to live a more healthy life.
  • We’ll have more information throughout the store to help our customers find solutions for their many needs
  • And Market 32 will deliver a more customer-friendly shopping experience, including a more convenient and intuitive store layout

All of these changes will support an even greater focus on delivering value to our customers throughout the store.  An important part of our ability to do that will be the ongoing presence of our Price Chopper brand, which will continue to offer our customers national brand quality at a savings.  Our AdvantEdge card and Fuel AdvantEdge Program will also be part of the new store.

Let me repeat that.  We are more committed than ever to delivering value and savings to our customers every day.  Whether in our Price Chopper stores or Market 32, saving our customers money will always be a top priority.

The transition to Market 32 has already begun.  We’re currently in the process of transforming our first two Capital Region stores – in Wilton and Clifton Park – to the Market 32 brand.  Those stores should be completed sometime next April.  We’ve also begun transforming our store in Pittsfield, Mass., which will be our first Market 32 outside the Capital Region. In addition, tomorrow we’ll be breaking ground on a new store in Sutton, MA, which will be our first ground-up Market 32.

I’m incredibly proud of the difference we’ve been able to make in the lives of our customers and in the communities we serve for the past 82 years.  We’re more committed than ever to continuing that tradition–to being a family led, regional grocery chain that continues to evolve and change with our customers.  Market 32, and the experience it will offer, represents the next chapter of that commitment in a story that will continue for years to come.

  One thought on “Much More Than Just a Name…

  1. James
    November 11, 2014 at 4:40 pm

    This is a bad idea. When JC Pennys drop its Name to JCP The stocks went down they lost lot of money. I am very upset you would change the name to Market 32. Price Copper been around for 80 years and now 80 years later you are getting rid of it. After you pay someone design building,Logo,Change its website You going to make the prices higher to pay off the loan. Bad idea what was the leadership team thinking?

    • Billy
      November 15, 2014 at 8:26 pm

      Actually Price Chopper has only been around for 41 years – they had another name for the first 41 (Central Market) – interesting that the changes came at the same time point (41 years) in both cases.

  2. James
    November 11, 2014 at 4:42 pm

    We’re very proud of our heritage and the fact that we’ve been part of this great community for the past 82 years

    If i was owner of company and Leadership team members wanted changed my company name i would not be very proud or happy i would be very upset.

  3. Kathleen
    November 11, 2014 at 5:24 pm

    WOW! I’m excited to see Market 32!

  4. November 11, 2014 at 5:41 pm

    I am personally sad to see this is how Price Chopper is spending hundreds of millions of dollars. That money would go much further if employees received raises, employees received actual and proper training, you offered up a few sales (start with butter…you will win over customers much faster) to counteract your prices that are higher than other stores, and if you spent $0.05 and added a copy of your coupon policy at each and every register (as opposed to one or none in an entire store).

    I think rebranding is rarely successful. And as the need/purpose for such an insanely expensive (and confusing to boot) spend is still completely unclear, I can’t imagine this will be one of the few success stories. Seems more like a “lipstick on a pig” plan that will avoid all the real problems.

    I’m not sure which customers you talked to that told you that changing a store’s name and adding fresh paint would solve all the problems. But as a regular shopper, I assure you that I would both notice and appreciate if you instead addressed real issues instead of spending millions to buy new signs.

    • November 14, 2014 at 8:59 am

      Thank you for your comments. There is actually a big misconception that needs to be cleared up. We’re investing $300MM in an extensive plan to modernize our stores that will entirely change their look and feel, while offering an enhanced selection of products, a focus on health and wellness, and other elements that will enhance the shopping experience. The portion of the total investment that pertains to the name change is actually very small.

  5. Jeanne Moore
    November 11, 2014 at 5:49 pm

    I hope you’re going to have more organic food and less GMO’s in the new stores.

  6. Ken Rock
    November 11, 2014 at 6:00 pm

    Been shopping there since it was Central Markets and I am sure I will continue as the new name but really I wish you would spend your time updating and cleaning and surrounding your markets with good people that want to take care of customers as not their job but as a extension of their home inviting in welcome guest. When I shop I would just like to see someone smiling and happy to be working and want to help out customers. If the new name is just lipstick on an old pig then why bother.

    • November 12, 2014 at 4:41 pm

      Thanks for your comment, Ken. Service is one area we will be strongly emphasizing in our new stores.

  7. Cheryl Yatsonsky
    November 11, 2014 at 6:18 pm

    Why??? That is s big waste of money

    • November 14, 2014 at 9:58 am

      Updating our stores is something that is necessary if we want to continue to be relevant and meet our customers changing needs. We would be spending close to that amount to update and modernize our stores, even without a rebranding effort.

  8. November 11, 2014 at 7:10 pm

    Never expected this. It’ll take time to adjust. I also hope I can continue to earn Sunoco savings too. Wish you’d open in Auburn, NY; Ithaca, LaFayette and Tully.

    • November 14, 2014 at 10:00 am

      John, you can definitely continue to earn fuel points in our stores!

  9. Todd MacDonald
    November 11, 2014 at 7:30 pm

    Our Price Chopper store in Massena,NY is great just the way it is. If you have $300 million dollars to spend on remodels must be your making more than enough money so why don’t you lower prices and the customers will flock to your stores.

    • November 14, 2014 at 9:41 am

      Thanks for your kind words about our Massena store. There is actually a misunderstanding- the $300MM is part of an extensive plan to modernize our stores that will entirely change their look and feel, while offering an enhanced selection of products, a focus on health and wellness, and other elements that will enhance the shopping experience.

  10. Mary Jane
    November 11, 2014 at 7:47 pm

    Please come to TICONDEROGA, New York! We need a price chopper here, you can move into the old Lowes building

    • November 12, 2014 at 4:44 pm

      We’ll pass your suggestion along, Mary Jane, thanks!

  11. Mike Jordan-Reilly
    November 11, 2014 at 8:08 pm

    Congratulations to The Golub Corp. on the next level in your proud famly company history.

  12. Sharon Cook
    November 11, 2014 at 8:21 pm

    I absolutely agree with Ken Rock…I shop the Keene, NH store. They have a few wonderful clerks but most could care less about a customer. We are an inconvenience to their day for the most part. People who do not love their jobs do not excell at them. It is very clear many employees to that store certainly do not like their jobs. Please look at the workers while you are revamping the store.

    • November 14, 2014 at 9:35 am

      Thanks for your comment Sharon. We are definitely focusing on improving our store layouts, great food experiences and customer service. We want you to look forward to your shopping experience.

  13. November 11, 2014 at 8:21 pm

    Market Bistro was so great the first weekend I went – good food and good service, and three weekends later when my husband and I came back to eat – dirty tables, having to order and go to the register and pay before you got your food, and crappy attitudes from employees. You have got to do better than that.

    • November 14, 2014 at 9:33 am

      Thanks for your comments Kelly and we apologize for your experience. We are passing this over to the Market Bistro store team.

  14. Colleen
    November 11, 2014 at 8:43 pm

    How does your new strategy impact the customers? What changes will be made to the products that are offered in the market? Assuming the cost of this change will be passed on to the consumer, what incentive will be offered to keep folks from choosing another grocery option?

    • November 14, 2014 at 9:31 am

      Thanks for your comment Colleen. Our prices will not go up as a result of this rebranding. Whether it be in Price Chopper or Market 32, our pricing will be as aggressive as ever.

  15. Tricia
    November 11, 2014 at 8:44 pm

    You speak of value yet we can never leave without spending well over $100. Your prices have been increasing.
    We shopped at Walmart and saved close to $30. We buy basically the same things.
    We used to get .10 per every$50. Now we have to spend $100. To get .10. Per gallon. Taking value away from us once again.
    When you speak of value, who’s getting the value? I know it’s not us. We ( customers) all talk how the prices have gone up.

    • November 14, 2014 at 9:30 am

      Hi Tricia, thank you for your comments. We are going to continue helping our customers save money on groceries everyday.

  16. annonymous
    November 11, 2014 at 8:50 pm

    Personally, I prefer Price Chopper as the name. Market 32 just seems like a dull and plain name. Price Chopper gives me a clear idea the your stores have good prices. I do like the idea of a store redesign, but do you need to change the name? And now that Market 32 is putting 30 million dollars or something to put into the new name change, it’s quite obvious that prices will now go up. From now on I think I will now shop at Aldi or Hannaford.

    • November 14, 2014 at 9:26 am

      Thanks for your comments. There is actually a big misconception that needs to be cleared up. We’re investing $300MM in an extensive plan to modernize our stores that will entirely change their look and feel, while offering an enhanced selection of products, a focus on health and wellness, and other elements that will enhance the shopping experience.

  17. November 11, 2014 at 9:18 pm

    Is there a reason my comment that came in at 5:41PM is not being approved but others were approved when they came in at 6 and 8:43PM??

    • November 14, 2014 at 9:24 am

      We apologize for the delay, we have been doing our best to answer everyone’s comments.

  18. Susie evans
    November 11, 2014 at 9:19 pm

    I would like to see some comparison to Wegmans….but NO one compares to Wegmans! You will definitely need to clean up the store…make it verry appealing to the consumers. I haven’t shopped there in almost a year..I still go in just to see if you have changed..and you haven’t…except raise your prices! You use to be comparable…..but now I shop at Mom and pop groceries that have been established for over >45 yrs!

  19. jess
    November 11, 2014 at 9:38 pm

    Price Chopper – my grocery store of choice here in NY and a taste of home while in Worcester, MA. Call me a frugal Yankee, but “investing more than $300 million over the next five years to transform our stores, with more to follow in the future” just seems insane to me. I am sure you’ve done the studies, and your research and your homework… but honestly, I am saddened to hear of such waste.
    I remember thinking the same thing when you decided to get rid of Lady Liberty from your logo – did you seriously retain customers? In my opinion – it wasn’t sensitivity, it was stupidity.
    Agreed, I am not your “average” shopper – I like to think I’m smarter than that, but I would like to think PC is too. What should you spend your money on? How about lower prices on the basics – the ingredients necessary for families to actually “make” breakfast, lunch and dinner, fruits, veggies, etc. Encourage healthy homemade and not convenience foods. We are slowly (and not so slowly) killing ourselves with obesity, diabetes, heart disease – we need to eat less prepared foods and more real food.

    • November 12, 2014 at 4:47 pm

      Jess, thank you for your comment. The $300 million investment over our chain of 135 stores will be spent to update and modernize over the next number of years. Additionally, we will continue to focus on the ability to lower prices. The plan is to focus on saving our customers money while providing a great shopping experience!

  20. Carrie James
    November 11, 2014 at 9:55 pm

    The new name will cause greater confusion with shopper because no two Price Chopper are the same chainwide. I always thought Price Chopper had some kind of identity issue when I worked there from 1988 to 2008. I work in various stores in the capital district and found the services and merchandise inconsistent. I think the same offering in the more upscale neighborhoods should be available in down scale store. For instance; customers would expect to have certain items at the Delaware Ave store that the Loudonville store has. I found that the smaller stores such as Delaware Ave, Madison Ave, Menands and North Troy were poorly run and neglected because of the focus on the upscale stores. I firmly believe all neighborhoods will benefit if given a fresh new store like in Watervielt. I enjoyed working for Price Chopper even if it was a bit challenging at times. You can truly take what you learned in retail and apply it to a new career! I hope you take into consideration the customers and the employees thoughts!

  21. C m
    November 12, 2014 at 2:33 am

    Having stores that are up to date with modern layouts and features is nice but the basics are what really matters so product choice, quality and service is what I will be watching. As a sidenote my pet peeve is that the pharmacy counter is in the middle of the store rather than having a counter/window/waiting area off to the side somewhere… Its not appealing to me to pick up someone elses cold, flu or other illness while I am foodshopping.. So hopefully the pharmacy is located away from my food in the new layouts! And my biggest wish would be to have cashiers who are not licking their fingers to open the plastic bags and count money while touching all the food as well as my pc card, change, bags and receipts! Other than that it will be nice to have a brighter cleaner streamlined store to shop in.. We have noticed our local PC stores looking worn. Good luck with the project.

    • Tim Hint
      November 13, 2014 at 6:23 pm

      I hope. This means I can get the sale price without that stupid card.and the buy One get one will not insult my intelagent .where the steaks are 24 dollards and not 12.This week.I hope with a new look will. Come some new rules like no more cell phones do I don’t get a finger in my face.good. luck

      • November 14, 2014 at 9:05 am

        At this point, we still plan to use the AdvantEdge card. However, saving our customers money will always be at the forefront of everything we do. Whether it be in Price Chopper or Market 32, our pricing will be as aggressive as ever.

    • November 14, 2014 at 9:10 am

      We will definitely take your comments and suggestions into consideration, thank you!

  22. Linda Kelly-Smith
    November 12, 2014 at 8:11 am

    Price Chopper Supermarket is now going to be called Market 32. What the heck kind of name is that? I worked there as a cashier, service desk specialist and bookkeeper a lifetime ago. Grossly under paid but I had the best medical coverage ever for me and my son.

    Why are they treating their best, most loyal, longtime employees so poorly? Shame on this company. Lowering pay and cutting out full-time staff?? The Golub Corporation must not have made enough Millions this year. You are WRONG Mr. Golub Corporation.

    • November 14, 2014 at 9:20 am

      Thanks for your comments Linda. Updating our stores is something that is necessary if we want to continue to be relevant and meet our customers changing needs. We will continue to focus on providing a competitive benefit package to our teammates.

  23. November 12, 2014 at 8:29 am

    All I see is a move to become Whole Foods, (Whole Paycheck), with the attendant high prices. Walmart, here I come!

    • November 14, 2014 at 9:17 am

      Thanks for your feedback, Joe. We are going to continue to help our customers save money every day. Our prices will not go up as a result of this rebranding.

  24. Brian
    November 12, 2014 at 1:08 pm

    Serious waste, just sell out now before wegmans, Hannaford and shop rite crush you. Let me say Grand Union, P&C and what you remind me of most SM Flickinger (Super Duper). Steady demise without a great leader, sorry Jerry Golub.

    • November 14, 2014 at 9:13 am

      We appreciate your feedback Brian. We are optimistic and hopeful that you’ll be pleasantly surprised with this ongoing transformation of our stores, products and shopping experience.

  25. Larry
    November 12, 2014 at 8:04 pm

    I think it’s a great investment. Shoppers want to enjoy the entire “experience” nowadays. This is one reason we have started driving to Syracuse for Wegmans. However, PC has been a loyal employer to several family members, and for that reason, we stay loyal to PC. But I do wish part of this new strategy will be in creating a new culture for your employees. Better pay and career opportunities will pay dividends when it comes to employee production and customer service. It’s a proven model. The marketing strategy is also a welcome change. I wish you the absolute best of luck and will continue supporting PC.

  26. Matthew McDermott
    November 13, 2014 at 4:07 pm

    I live in Rochester, so I’m outside your current footprint but do have occasion to shop at your stores when I’m traveling in other cities in New York. I tend to be fairly skeptical about logo or branding changes as papering over underlying issues rather than fundamentally improving anything. That said, I’m excited to see the direction you’re heading in. While price is one aspect of value, there are a lot more factors that determine whether I feel like I’m getting good value from a product or service provider – convenience, customer service, knowledgeable staff, etc. People often think they want the rock-bottom lowest price, but complain that they don’t like what actually comes with that. Pivoting your focus away from the price emphasis allows you to focus on other aspects of the customer experience that keeps people coming back. I’m looking forward to seeing how things develop over the next couple of years.

  27. Robert
    November 14, 2014 at 12:54 pm

    PRICE CHOPPER GOING BACK TO THEIR ROOTS !!!!!!!
    When I was growing up in the early 70’s Price Chopper was Central Market.
    So they are actually going back to their roots.
    I like the name change and the forward thinking attitude.
    Good Luck!!!

  28. Glenn Marcucio
    November 15, 2014 at 1:43 pm

    I have always liked Price Chopper stores. I’m practically at one almost every day. I eat lunch at the Johnstown store during the week and shop the Amsterdam store mostly. I like the things Price Chopper does for their customers such as the fuel savings and the Electric Vehicle Charging stations. I travel to Niskayuna and Saratoga and shop at their stores and plug my EV in to their charging stations while I’m shopping. it’s a great customer convenience. I hope they roll out more of the EV stations with the upgrading of their stores. I like the name Price Chopper better than Market 32. However, I’m sure they gave it a lot of thought and feel the name change is necessary. I wish Price Chopper luck they have always served me well!!!

  29. Karli Dwyer
    November 15, 2014 at 2:00 pm

    As an EV driver, I appreciate Price Chopper installing charging stations at a few of its stores, so we can charge while we shop. I hope that there will be more of these included as you revamp and reconfigure your stores as you act to improve customer experience. If Market32 does this, I will be an enthusiastic shopper.

  30. November 15, 2014 at 5:20 pm

    I am an EV driver as well and I very much appreciate Price Chopper’s forward thinking policy of providing EV car charging to it’s customers. It is the primary reason that I choose to shop at Price Chopper. There are more of us EV drivers every day so please consider charger installs at future stores and those that are being modernized. Thank you!

  31. November 15, 2014 at 5:21 pm

    I am an EV driver as well and I very much appreciate Price Chopper’s forward thinking policy of providing EV car charging for it’s customers. It is the primary reason that I choose to shop at Price Chopper. There are more of us EV drivers every day so please consider charger installs at future stores and those that are being modernized. Thank you!

  32. Penelope
    November 15, 2014 at 5:48 pm

    Ahhh, the people of the frugal unchanging Northeast have certainly shared their opinion. Good luck with your changes and I want to applaud you on your commitment to energy efficiency as well as being some of the first grocery stores to offer plug-in stations for cars!! It will be difficult for some who hold tradition and history so close to their heart, but hopefully the investments you make (which every other store makes as well) will continue this trend of energy conservation with the variety of groceries that you have always given.

  33. Patrick
    November 15, 2014 at 5:50 pm

    I concur with Karli. Thank you for the EV charging stations I encourage you to put in more. Patrick

  34. Chris thorsen
    November 16, 2014 at 4:26 am

    I like the electric vehicle charging units. More stores should have them!

  35. November 16, 2014 at 10:37 am

    I hope the modernization also includes rolling out more electric charging stations for electric vehicles. I love that you have them available at at some stores but really need more. Thank you and congratulations on your name change and investment to the stores and community.

  36. Amy
    November 19, 2014 at 2:25 am

    I have always liked shopping at your stores and have noticed new items already. Will the new stores have your bulk snacks and nuts like sprouts has? It would be awesome to get everything I need at one store.

  37. billy
    December 3, 2014 at 9:16 am

    Will there be Transgender bathrooms??

    • billy
      December 9, 2014 at 10:47 pm

      Is there something wrong with the question i asked??

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