Whole Foods Market Swot Analysis

WHOLE FOODS MARKET INC.

Company Information Whole Foods Market Inc., as founded by John Mackey and Renee Lawson Hardy in Austin Texas in August 1980 (WFM.O Website), is a retailer of natural and organic foods and grocer,. Whole Foods Market is currently operating 362 stores in countries like United States, United Kingdom and Canada, and were supported by regional offices, distribution centers, sea-food processing facilities and meat procurement centers, etc. (Thomson Reuters, 2015).. The company offers a variety of natural and organic products that are focusing on perishable goods. It has a wide selection of products that includes grocery, meat, seafood, bakery, catering, coffee, tea, beer, cheese, nutritional supplements, body care, lifestyle

Whole Foods Market expanded in Canada by year 2002 and in 2004, they have already entered the market in United Kingdom, with more acquired stores of Fresh and Wild (Whole Foods Market Company Info, 2015).

Mission, Vision, Values

Whole Foods Market’s vision is to have a “sustainable future” for the children and grandchildren to live in a world that values human creativity, diversity and individual choice. They envision businesses to harness human and material resources without devaluing the integrity of the individual or planet’s ecosystem. They envision of a world that values education and a free exchange of ideas by an informed citizenry where people are encouraged to discover, nurture and share their life’s passion. (Whole Foods Market’s, 2015) Whole Foods Market have eight core values that reflects what is truly important for them as an organization that also serves as the foundation of their company culture, as follows:

1. We sell the highest quality natural and organization products available;

2. We Satisfy, Delight and Nourish Our Customers;

3. We Support Team Member Excellence and Happiness;

4. We Create Wealth Through Profits & Growth;

5. We Serve and Support Our Local and Global

(Whole Foods Market Annual Report, 2013). More so, according to the report, the company stores have approximately 650 members who comprises 10 teams per store. The stores are estimated to carry on approximately 30% of company sales were organic in fiscal year 2013.

They also promote a strong company culture of having a team approach and decentralized approach in store operations wherein decisions are made at the team member/store level in order operate the store as efficiently and profitably as possible. (Whole Foods Market, 2013). Whole Foods Market spend less on advertising and marketing compared to other supermarkets because they rely on word-of-mouth advocacy by their shoppers, which they believe to be more valuable. Instead, they allocate budget for community nonprofit partnerships that help grow the business and communities. They also connect with their customers through social media, e-newsletters, blogs and website at www.wholefoodsmarket.com. (WFM,