Whole Foods Market is one of the largest retailers of organic food products in the world. The company is successful because of its skilful growth strategy, huge product variety, and big profits. Whole Foods Market’s motto is “Whole Foods, Whole People, Whole Planet”, and this motto, as well as the core values, are very important for the company’s strategy and operating practices. However, the company does not execute the motto completely due to its poor international operations, which is one of the biggest weaknesses of Whole Foods Market. One of the opportunities of the company is the superiority in the market of high demand for the organic products. Increase in the competition in the market is one of the biggest threats for Whole Foods Market.
Whole Foods Market grew from a local market to one of the largest organic product retailer around the world. By 2008, Whole Foods Market operated and owned 276 stores in the United States and internationally. The company’s expansion strategy consists mostly of acquisitions of other companies. One of the biggest and most important acquisitions was the acquisition of Wild Oats stores, which gave Whole Foods Market opportunity to operate with large scale stores and with less competition in that segment of market.
The company offers a huge variety of products which includes: grocery, bakery, poultry and meat, seafood, deli, wines, cheese, and household products. The regular average size of a Whole Foods Market store is around 45,000 to 60,000 sq ft. In the bigger stores, which size up from 60,000 to 80,000 sq ft, they offer even a bigger variety of products and catering service. Example of this would be the Austin 78,000 sq ft store which included hundreds types of cheese, beers, wines, and seafood items.
Whole Foods Market’s revenue was rapidly growing since the early 1990’s with an increase of 30%, and 20% increase since year 2000. By 2007 the company recorded sales of around $6.6 billion. The...
Cited: Gamble, John, and Arthur A. Thompson. Essentials of Strategic Management: The Quest for Competitive Advantage. New York: McGraw-Hill Irwin, 2011. Print
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