Wegmans SWOT Analysis, USP & Competitors

Posted in Lifestyle and Retail, Total Reads: 2159
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SWOT Analysis of Wegmans with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Wegmans

Parent Company

Rochester Food and Vegetable Company

Category

Convenience Store

Sector

Grocery stores

Tagline/ Slogan

Helping you make great meals easy

USP

Leading since 1979, Wegmans dominates the US grocery market offering basic commodities and food products at a very low price.

STP

Segment

People who have irregular working hours or work shifts and might go for impromptu purchases

Target Group

Working class professionals who want to buy everyday items like groceries, toiletries, drinks even during a weekend and also late at night as per their convenient time.

Positioning

Wegmans positions itself as follows :- We care about the well-being and success of every person. High standards are a way of life. We pursue excellence in everything we do. We make a difference in every community we serve. We respect and listen to our people. We empower our people to make decisions that improve their work and benefit our customers and our company. “

SWOT Analysis

Strengths

1. Leading since 1979, Wegmans dominates the US grocery market offering basic commodities and food products at a very low price.
2. Has been ranked as the Best grocery store and among the 100 best companies to work for, creating uge brand value.
3. Also launched line of healthy products “Food you feel good about”, imported and canned products and line of organic products called “six dollar meals”.
4. Also offers additional attractive services to the customers like florist, catering, gift ideas, recipes and shopping lists etc.

Weaknesses

1. The range of food offered is limited compared to other supermarkets which limit the options available to consumers.
2.The prices of items are higher than supermarkets and grocery stores which might limit the target group

3.Low brand awareness and less market share of the company

Opportunities

1. More young professionals living away from home and working long hours prefer frozen food. Hence their target group is increasing fast.
2. Increasing purchasing power parity leading to improved lifestyles e.g – more ready to eat foods
3. Expand network, wider product range  and reach to people by opening up more flagship stores offering more wide variety of products.

Threats

1. Robbery attempts and other threats lead  to concerns for property loss.
2. Intense competition from corner stores, supermarkets, grocery stores and host of other convenience stores.
3.Lack of large scale space leading to merger of many convenience stores and increase in competition due to merger of many convenience stores.

Competition

Competitors

1) Walmart stores Inc.
2) The Golub Corporation
3) Tops Holding Corporation



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