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Whole Foods Executive Summary

361 Words2 Pages
In this article we learn about Whole Foods’ responses to an increasingly competitive market. As more firms joined the healthy grocery store market with relatively low prices, Whole Foods found itself unable to compete. It had difficulty lowering its own prices and so sales fell. Then they made a large mistake of overcharging customers for incorrect weight on their produce items; this also contributed to the fall in sales. Now they have announced that they are cutting 1,500 employees to save financial resources for opening their new chain “365” which will sell healthy food for low prices, and to increase technology investment. Economic Analysis: In chapter 3 we learn about the variables that create shifts in demand and supply curves in a competitive
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