Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Whole Foods Market analyses the brand by its strengths, weaknesses, opportunities & threats. In Whole Foods Market SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Whole Foods Market to benchmark its business & performance as compared to the competitors. Whole Foods Market is one of the leading brands in the lifestyle and retail sector.
The article below lists the Whole Foods Market SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Whole Foods Market SWOT Analysis:
For Whole Foods Market, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Whole Foods Market Strengths
The strengths of Whole Foods Market looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Whole Foods Market :
1. Whole Foods remains the marquee brand in organics, especially after its acquisition of Wild Oats. Its competition basically amounts to the Joe's and traditional grocers that are devoting more of their shelves to organic items
2. Selling premium organic groceries in an upscale setting provides a little more wiggle room in mark-ups than traditional supermarkets
3. Good presence in US
4. Availability of diverse range of food products
Whole Foods Market Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Whole Foods Market SWOT Analysis:
1. Despite its competitive, value-based pricing for food products, the healthy food products still are perceived to be costlier than the products sold by competitors
2. Saturating the market also finds Whole Foods entering smaller markets with smaller stores.
Whole Foods Market Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Whole Foods Market SWOT Analysis:
1. International expansion
2. Private label growth
3. Value added services such as in-store health clinic, consultation services could be provided
Whole Foods Market Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Whole Foods Market are as mentioned:
1. Wal-Mart continues to push into groceries, with Target Corporation following suit. Their organic offerings are limited at the moment, but they have the ability to compete aggressively on price
2. Rising labour and fuel costs
3. Downfall in economy will discourage customer from purchasing high quality, premium health food products
Whole Foods Market Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of Whole Foods Market:
Differentiation from competitors by focus on high quality fresh produce, organic and healthy food products
Whole Foods Market STP
Grocery store, Healthy food store
Target Corporation Group
Health conscious individuals who value quality
Emphasis on high quality, fresh produce and organic, healthy food items
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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