Whole Foods Swot Analysis
Conclusion / Recommendations
Conclusion:
Our group researched and conducted a SWOT analysis on Whole Foods Market. The strength is being one of the top grocers in the U.S. by providing healthy and organic food. The option to purchase high quality natural food is available for consumers who are health conscious. The weakness for Whole Foods is viewed as a luxury shopping destination. Lower and middle class people with limited finances cannot afford to shop there on a regular basis. The opportunity is available to expand within international markets. Whole Foods can explore nonexistent markets internationally with the potential for growth. The threat is competitors will have an interest to gain consumers for their business. Competitors can utilize many avenues such as advertising and commercials to attract customers.
Recommendation for Weakness
• Affordable Shopping Destination
A recommendation our group suggested for correcting the weakness is Whole Foods should charge affordable prices and implement a rewards program where customers can earn points or get a …show more content…
According to an article from Slate, the media dubbed the grocer as “Whole Paycheck” which is a moniker expressing how expensive premium food cost (McMillan, 2014). According to a Business Insiders article, competitors such as Trader Joe’s and Kroger sell the same products as Whole Foods for cheaper prices (Lutz, 2015, Para. 8). Whole Foods Co-Ceo Walter Robb realizes there’s a disconnection between the accessibility and affordability in healthy foods and wants to be socially responsible to the community (McMillan, 2014). Furthermore, if Whole Foods want to sustain their number one status in the organic food market, they should consider lessening cost comparable to competitor’s prices so they don’t lose
Conclusion:
Our group researched and conducted a SWOT analysis on Whole Foods Market. The strength is being one of the top grocers in the U.S. by providing healthy and organic food. The option to purchase high quality natural food is available for consumers who are health conscious. The weakness for Whole Foods is viewed as a luxury shopping destination. Lower and middle class people with limited finances cannot afford to shop there on a regular basis. The opportunity is available to expand within international markets. Whole Foods can explore nonexistent markets internationally with the potential for growth. The threat is competitors will have an interest to gain consumers for their business. Competitors can utilize many avenues such as advertising and commercials to attract customers.
Recommendation for Weakness
• Affordable Shopping Destination
A recommendation our group suggested for correcting the weakness is Whole Foods should charge affordable prices and implement a rewards program where customers can earn points or get a …show more content…
According to an article from Slate, the media dubbed the grocer as “Whole Paycheck” which is a moniker expressing how expensive premium food cost (McMillan, 2014). According to a Business Insiders article, competitors such as Trader Joe’s and Kroger sell the same products as Whole Foods for cheaper prices (Lutz, 2015, Para. 8). Whole Foods Co-Ceo Walter Robb realizes there’s a disconnection between the accessibility and affordability in healthy foods and wants to be socially responsible to the community (McMillan, 2014). Furthermore, if Whole Foods want to sustain their number one status in the organic food market, they should consider lessening cost comparable to competitor’s prices so they don’t lose