Whole Foods
Introduction In 2006, Whole Foods had adapted into the “worlds largest retail chain of natural organic foods supermarkets.” Whole Foods rapid growth and achievements is primarily due to being highly selective about what they sell, and also maintaining quality standards and integrity. Whole Food’s cited mission statement is to “promote vitality and well-being for all individuals by offering the highest quality, least processed, and most flavorful natural and naturally preserved foods available.
Whole Food’s Current Strategy Whole Food’s strategy since its existence has been to open and acquire its own large stores. Whole Food’s believed that acquiring stores that were a lot larger (over 40,000 square feet), compared to smaller stores they would be able to capture a certain niche of customers. Whole Food’s unique merchandising strategy was to create a “welcoming and interactive store environment that turned ordinary shopping for food into a fun, pleasurable experience.” Whole Food’s wanted customers to think of the store as another home outside of work where they could relax and mingle with other people.
Marketing Assessment In 2006 sales at Whole Foods were 1.4 million and rose to 1.8 million in 2007 showing a slight increase in sales over that three-year period. The profit margins for Whole Foods have been decreasing each year but their capitalization for their stock has been increasing.
SWOT Analysis (Key Strengths and Weaknesses) One of the most important strengths that Whole Foods possess is their passion for food and high standards for quality products. Whole Foods guarantees 100 percent satisfaction on all items purchased which establishes confidence in the products that they sale. Whole Food’s unique advantage that separates them from competitors is the size of their stores. Few organic food stores have stores larger than 15,000 square feet. Every Whole Food store has its own customized layout that fits that particular building size to
Whole Food’s Current Strategy Whole Food’s strategy since its existence has been to open and acquire its own large stores. Whole Food’s believed that acquiring stores that were a lot larger (over 40,000 square feet), compared to smaller stores they would be able to capture a certain niche of customers. Whole Food’s unique merchandising strategy was to create a “welcoming and interactive store environment that turned ordinary shopping for food into a fun, pleasurable experience.” Whole Food’s wanted customers to think of the store as another home outside of work where they could relax and mingle with other people.
Marketing Assessment In 2006 sales at Whole Foods were 1.4 million and rose to 1.8 million in 2007 showing a slight increase in sales over that three-year period. The profit margins for Whole Foods have been decreasing each year but their capitalization for their stock has been increasing.
SWOT Analysis (Key Strengths and Weaknesses) One of the most important strengths that Whole Foods possess is their passion for food and high standards for quality products. Whole Foods guarantees 100 percent satisfaction on all items purchased which establishes confidence in the products that they sale. Whole Food’s unique advantage that separates them from competitors is the size of their stores. Few organic food stores have stores larger than 15,000 square feet. Every Whole Food store has its own customized layout that fits that particular building size to