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Whole Foods Executive Summary

640 Words3 Pages

Whole Foods Market's New Strategies to Drive Sales Will Lead to Upside Whole Foods Market (WFM) is a leading retailer of organic and natural foods. The company offers floral, meat, seafood, bakery, coffee, tea, wine, nutritional supplements, vitamins, body care products as well as lifestyle products including books, pet products and household products. Whole Foods started 11 new stores in 2014, and is planning to launch another 8 stores this financial year. Its gross profit decreased last quarter as its cost of goods sold continued to increase as it is planning to launch new value stores with low prices to maintain its position. Going forward, Whole Foods is planning to open a uniquely branded store concept named “364 Whole Chain Store” next year. This will be equipped with innovative …show more content…

As a result, they have started preferring organic and natural food products. Whole Foods is launching new products to meet growing demand for organic food Whole Foods launched Creminello Fine Meats artisan deli hams and Pole and Line Yellowfin Tuna products this quarter. The Hams do not contain antibiotics and are 5-step animal welfare rated. In addition, Whole Foods also added four new flavours to the Ham line, which includes Rosemary Cotto, Truffle Cotto, Brown Sugar Cotto And French Cotto. The Tuna is gluten free. Whole Foods targets only middle and upper income customers, but sometimes, this strategy can be detrimental as it renders the grocer vulnerable to budget chains that have more defensive businesses that offer a better pricing position. In terms of opportunities, Whole Foods can maintain its position by cutting prices and stepping up its advertising efforts. It has also launched its first national TV ad campaign emphasizing food quality and public health, which is generating a lot of excitement among

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Within the specific organic segment of the grocery industry, WFM has three main competitors: Fresh Market, Sprouts Farmers Market, and Trader Joe’s. Since all four grocers compete in the same specialty organic niche, the strategic group map allows for a visual differentiation. The three data point used for this map include numbers of stores, total revenue, and the Consumer Reports Supermarket Rankings of 2015. As the map shows, both WFM and Trader Joe’s are very similar in both number of store and total revenues. The main difference between the two is consumer satisfaction, with the primary knock on WFM being high pricing.

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Whole Foods has been struggling for quite sometime now, this is because of several things. Whole Foods was caught overpricing its customers and has been trying to reshape its image for two years now. For example their vegetable platters were on average overpriced by $2.50 and their chicken tenders were overpriced by an average of $4.13. This led to a lawsuit of $800,000 and extremely bad press, where people began nicknaming it as “Whole Paycheck”. Around the same time the company’s stock fell by over 40 percent.

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Whole Foods ' business model of vegetable seduction is based on the presentation, distribution and display of its products. As the company 's CEO John Mackey mentioned on the video, "people buy food, first, with their eyes"; meaning that the appealing to visual cues, to colorful and pretty displays could have a great repercussion in the buying decision. By creating original and beautifully presented displays the company expects to meet its sales goals and create customer loyalty, customers that will come back for the experience of doing their groceries in an attractive environment. The company pairs its appealing with a singular culture that stands out among others in the industry.

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I’m not saying that they should get rid of the majority of the products that they sell and swap them out for different cheaper products. However, if they take a significant portion of what they sell, and swap it out for more affordable products, the consumers can walk in knowing that there are more than two or three things they’ll be able to buy, without breaking the bank. Whole Foods does very well in business, as well as customer satisfaction. If Whole Foods wants to come out on top, instead of just being below the top five supermarkets in customer service, they need to make a few changes, so that they beat their competitors. By making changes they will be able to please all of the

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We have Analyze each competitor’s Sales, Assets, Market Share, Employees, Market Value etc. are relative threats to Whole Food Market. After analyzing the above critical success factors, on the average, Kroger Company is in the best company and first position overall. Kroger Company is leading position in all critical success factors of Sales, Assets, Market Share, Employees, Market Value, Especially market share is 4 times more than other companies. Whole Foods Market is the second position, compare the market share with the same-phase competitors. Whole Foods Market’s sales and market value and so on are all more and better developed.

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Whole Foods Executive Summary

522 Words | 3 Pages

o Accused of massive overcharging products by using labels that listed incorrect weights o PETA is suing the company for having consumers pay high prices for meat from animals on farms that differ from the industry’s paltry minimum standards • Same-store sales dropped from last year by 0.2% • Total sales increased by 6%, weakest since about 2010 • Profitability is also down Growth strategies/ Solutions  Rebuild their tarnished reputation o Market the products with better prices o Scan the internal and external environment of the company and make corrections o Deal with the lawsuits and allegations against the company o Remind the social media what Whole Foods stands for and what the goal of the company is  Lower prices o Have occasional discounts, especially around the holidays o Sell items in bulk packages o Instead of creating a chain that will create doubts in the current loyal base, change the pricing strategy for all stores that considers price-conscious buyers  Expand their “Non-Whole Foods” items o Implement items that are not only natural and organic, but regular everyday items o Some of the items that should be sold cheaper than the organic items are: bananas, chicken, ground beef, milk, and

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The nature of Whole Foods operation is Providing the best quality food and drugs to their customers. Whole Foods Market is a retail provider of foods both organic and non-organic. Whole Foods also provides their customers with Drugs both holistic and non-holistic. Date of annual report used:

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This reputation has prompted Whole Foods Market to introduce separate stores that are designed specifically for millennials (Bolton, web). There is no evidence about how these new stores will affect Whole Foods Market, however there is evidence that the population of America, where most of Whole Foods Market stores are located, is getting older. While the number of birth is estimated to out pace the number of deaths in the United States, people are estimated to be living longer since the population is living longer because of this Whole Foods Market’s focus on the younger population may not be beneficial (U.S. Census Bureau, Demographic Internet Staff, web). Whole Foods Market used demographics to create a new type of store and that kind of demographic that it focuses on is going to have to be watched as time goes on to determine if changes to the new stores will need to change.

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Whole Foods Market is a popular grocery store within the United States. The company was founded in 1980 in Austin, Texas with the location being only 10,500 square feet with a total of 19 employees (“About”). The company began its first expansion in 1984 with locations in both Houston and Dallas (“About”). This expansion continued in 1989 with the addition of stores on the West Coast; Whole Foods also expanded through the acquisition of natural food chains like Nature’s Heartland of Boston (“About”). At the start of the 21st century Whole Foods opened another location in Manhattan, which created interest within other industries (“About”).

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Whole Foods Mission Statement

576 Words | 3 Pages

Company Background Whole Foods Market is an American supermarket chain selling organic and natural foods. The company was founded in 1980 by John Mackey, Renee Lawson Hardy, Craig Weller, and Mark Skiles in Austin, Texas. Whole Foods Market went public in 1992 and was acquired by Amazon in 2017; it performs a vital role in the production and distribution of natural foods all across the United States of America. (Harbin et al., 2010). The primary company has a store which is approximately 28,500 square feet in area and specializes in the preservation, taste, and additive-free products.

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What Are Whole Foods Mission Statement

548 Words | 3 Pages

Introduction: A natural and organic food store called Whole Foods Market had established in Austin, Texas, in 1980. (Whole Foods Market, 2021). Our goal is to nurture both humans and plants, according to our mission statement (Whole Foods Market, 2021). Sustainable energy, renewable agriculture, food waste reduction, and pollinator conservation are all effective marketing techniques for a business that specialty in providing clients with organic, natural goods (Whole Foods Market, 2021).

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First and foremost, Whole Foods obtains many factors that make this company appealing to work for such as their focus on employees and not profit, social responsibilities, and aesthetic leadership. Whole Foods focus on employees is substantial to their success. They hire skilled, good people and they ensure that they succeed within the corporation (Kreitner & Kinicki, 2013). Also, Whole Foods offers employee benefits, which in today’s economy, is becoming rarer by the day. Every year Whole Foods allows employees to elect different benefits, if everyone agrees on that benefit, it gets added on to their list of benefits (Davis, 2012).

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The Fresh Market’s, Trader Joe’s, Sprouts Famers Market’s, and Whole Foods’ stores are located near to each other in many locations. However, Whole Foods has a competitive and strategic advantage due to the size of its stores. As a result, Whole Foods can accommodate a greater number of customers. In addition, It can also hold larger inventory that its competitors.

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