Wegmans Analysis
Table of Contents
Table of Contents 2
INTRODUCTION 3
Mission Statement 3
History 3
SWOT ANALYSIS 4
Strengths 4
Weaknesses 5
Opportunities 5
Threats 6
PORTER’S FIVE FORCES ANALYSIS 7
Customer Bargaining Power 7
Supplier Bargaining Power 7
Threat of New Companies 8
Threat of Similar Products 8
Competitive Levels within a Particular Industry 8
REFERENCES 9
INTRODUCTION
Mission Statement
At Wegmans, we believe that our commitment to Sustainability – making decisions that promote the long term well-being of our people, the environment and our company – is one of the ways we make a difference in the communities we serve. It’s just the right thing to do!
History
Wegmans is a privately held, family-owned company founded in 1916 by the Wegmans family. Wegmans is based out of Rochester, New York and the current owners are Danny Wegman, CEO and Colleen Wegman who is Danny’s daughter. She holds the position as president for the company. Robert Wegman, which is Danny’s father, was the chairman for Wegmans until his passing in early 2006. As of today Wegmans employs over 44,000 people. It all began with two brothers, Walter and John that worked in their parent’s grocery store in the early 1900s. Walter was responsible for working in the store while his brother John managed the produce section of the store. As a result, John decided to open up a Fruit & Vegetable Company which started what is now known as Wegman Food Markets. Later in 1916 John’s brother Walter decided to join him on his newly found venture. The brothers decided it was time to expand so they decided to purchase the Seel Grocery Co. in 1921 and begin the distribution of general groceries and bakery items. In the 1930s the brothers incorporated the new market while continuing to expand their product line with meats, produce and dairy products. As the customer base grew a need for frozen foods arose so the Wegman
Table of Contents 2
INTRODUCTION 3
Mission Statement 3
History 3
SWOT ANALYSIS 4
Strengths 4
Weaknesses 5
Opportunities 5
Threats 6
PORTER’S FIVE FORCES ANALYSIS 7
Customer Bargaining Power 7
Supplier Bargaining Power 7
Threat of New Companies 8
Threat of Similar Products 8
Competitive Levels within a Particular Industry 8
REFERENCES 9
INTRODUCTION
Mission Statement
At Wegmans, we believe that our commitment to Sustainability – making decisions that promote the long term well-being of our people, the environment and our company – is one of the ways we make a difference in the communities we serve. It’s just the right thing to do!
History
Wegmans is a privately held, family-owned company founded in 1916 by the Wegmans family. Wegmans is based out of Rochester, New York and the current owners are Danny Wegman, CEO and Colleen Wegman who is Danny’s daughter. She holds the position as president for the company. Robert Wegman, which is Danny’s father, was the chairman for Wegmans until his passing in early 2006. As of today Wegmans employs over 44,000 people. It all began with two brothers, Walter and John that worked in their parent’s grocery store in the early 1900s. Walter was responsible for working in the store while his brother John managed the produce section of the store. As a result, John decided to open up a Fruit & Vegetable Company which started what is now known as Wegman Food Markets. Later in 1916 John’s brother Walter decided to join him on his newly found venture. The brothers decided it was time to expand so they decided to purchase the Seel Grocery Co. in 1921 and begin the distribution of general groceries and bakery items. In the 1930s the brothers incorporated the new market while continuing to expand their product line with meats, produce and dairy products. As the customer base grew a need for frozen foods arose so the Wegman
References: Company Overview. (2014, September 2). Retrieved from http://www.wegmans.com/webapp/wcs/stores/servlet/CategoryDisplay?categoryId=281152&storeId=10052&langId=-1&catalogId=10002 Wegmans Food Markets SWOT Analysis. (2013). Wegmans Food Markets, Inc. SWOT Analysis, 1-6.