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An Analysis Of Whole Foods Market

1234 words - 5 pages

Whole Foods Market was founded in Austin, Texas, after four local businesspeople decided that the natural food industry was ready for a supermarket format. The first Whole Foods was opened in 1980 with only a staffing of 19 people. After being one of the first natural food stores coming out it had immediate success. In 2006, Whole Foods Market had evolved into the world’s largest retail chain of natural and organic food supermarkets. With their rapid growth and success is primarily due to being highly selective about what they sell, as well as being dedicated quality standards and core values.
Whole Foods states a mission that was to “promote vitality and well-being for all individuals by offering the highest quality, least processed, most flavorful natural and naturally preserved foods available.” Whole foods are a dynamic leader in the quality food business. They are a mission driven company that aims to set the standards of excellence for food retailers. They are in the process of building a business in which high standards permeate all aspects of Whole Foods. The quality is a state mind at Whole Foods Market.
Whole Foods is different from their competitors because they mainly focus on innovation, quality, and service excellence, by allowing it to charge premium prices. Whole foods faced an increase in competition from larger food retailers, which include, Walmart, Costco, and many more. From the time of Whole Foods creation, the market share was less than six national stores in the United States. Although the organic food industry is growing and Whole Foods finds itself competing hard to maintain its elite presence. When Whole Foods started, they had little to no competition. Today, the organic industry is continuously growing and Whole Foods is having a difficult time competing and maintaining its elite manifestation. They compete with larger retail stores such as, SAMs Club, Walmart, Costco, and Target.
Not only do these stores compete in the standard supermarket industry, but they have also been now offering natural and organic foods and supplies. Unlike low price leaders including Walmart, Whole Foods has dominated because of its brand image which is tougher to manage and less impervious to competitive threats. As competitors start focusing on emphasizing organic and natural foods within their own stores, they will gradually decline over times, as it will become more difficult for consumers to differentiate Whole Foods value of proposition from their competitors
Over the years Whole Foods has remained true to their mission and business philosophy, this has gained them the loyalty of their customers. The loyalty has led them to become the world’s leading retailer of natural and organic foods. Whole foods have also become a multinational food retailer with a little over two-hundred stores from the United States, Canada, and the United Kingdom. They offer a variety of different products from produce, seafood,...

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