Known for its diversity of concepts, H-E-B is about to launch another one called Joe V's Smart Shop, a discount grocery store.
The first Joe V's will open May 5 in northwest Houston at Antoine and Veterans Memorial.
The store will have less assortment compared to a traditional supermarket while aiming to take on all competitors on price on many items, said Armando Perez, vice president, Houston, at San Antonio-based regional grocer H-E-B.
H-E-B's new concept is an example of a trade-down taking place in retail. Many retailers see a need to offer the lowest prices possible, because increasing numbers of budget-minded consumers are demanding it, analysts say.
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