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Whole Foods Market

Whole Foods Market. By Jesse Carter. Background Information. Founded in 1980 in Austin, Texas 1984: expansion out of Austin began Opened new stores from the ground up Throughout the 90s, acquired other natural food chains Global expansion starting in 21 st century

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Whole Foods Market

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  1. Whole Foods Market By Jesse Carter

  2. Background Information • Founded in 1980 in Austin, Texas • 1984: expansion out of Austin began • Opened new stores from the ground up • Throughout the 90s, acquired other natural food chains • Global expansion starting in 21st century • Currently has 39,000 employees and 193 stores

  3. First Whole Foods Market Image from http://www.wholefoodsmarket.com/company/history.html

  4. Philosophy • Motto: “Whole Foods, Whole People, Whole Planet” • Declaration of Interdependence—created originally in 1985 • Core values, quality standards, and future plans are extensive lists

  5. Some Questions • How many of you have shopped at Whole Foods before? • How many of you shop there regularly? • Why?

  6. Whole Foods and The Long Tail • Each store designed uniquely for its locale • Natural/organic food market is its own niche • Ability of customers to spend time in store doing things other than shopping • Major brands and the niche market • Whole Foods is still a supermarket

  7. Whole Foods and The Long Tail • Early this year, Whole Foods Inc. increased the salary cap for executives • In an open letter, founder John Mackey called the cap necessary to maintain executive talent • Defended the move by reminding everyone that 93% of the company’s stock options are distributed to non-executive employees • Question: Can companies in niche markets stay profitable and maintain their core philosophies at the same time?

  8. Whole Foods and Democratizing Innovation • Offered $10 million in low-interest loans to small farmers who grow their crops organically • Allow each store’s locale to determine its specific attributes • “Democratization” of pay—CEO (Mackey) is no longer paid for his services • Do you think he is a lead user doing his work for the pure enjoyment of it?

  9. Whole Foods and Democratizing Innovation • Pay structure is still very hierarchical • Grocery store model can be limiting in terms of innovation

  10. Whole Foods and The Wealth of Networks • Space provided for the common community of shoppers to get together • Whole Foods website • John Mackey’s blog, where users can read and comment • http://www.wholefoodsmarket.com/blogs/jm/ • Podcasts • http://www.wholefoodsmarket.com/podcasts/

  11. Laws of Simplicity (Fitting) • Reduce—only organic products • Organize—layout groups certain items together • Time—make waits more tolerable with free sample • Differences—simple philosophy with complicated parts—provides balance • Emotions—people’s strong feelings about healthy foods and healthy environmental practices met • Trust—consumers trust grocery store model generally and Whole Foods specifically

  12. Laws of Simplicity (Not Fitting) • Reduce—offers huge range of organic food products, natural body supplements, skincare products, etc. • Organize—each store is unique to its locale, thus each store is organized differently • Time—not designed to get you in and out quickly

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