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Whole Foods Strategies Pay Off In Healthy Financials

February 17, 2015: 12:00 AM EST
Five lessons can be drawn from Whole Foods Market’s excellent first quarter financials. Key metrics showed strong growth, including sales, which rose 10 percent to $4.7 billion. At the top of the strategic “lessons” list: addressing consumer perception of the company as “Whole Paycheck” – an expensive grocery shopping choice. To combat that impression, the company launched its 365 Everyday Value program and the Values Matter national ad campaign. Awareness among Whole Foods Market’s target audience doubled, and key attributes like value perception rose considerably. Other key lessons focused on the value of partnering, de-emphasizing loyalty programs, ensuring a great in-store experience, and constantly testing innovation.
Kathleen Kusek, "Five Lessons Retailers Can Learn From Whole Foods Market's Q1 Performance", Forbes, February 17, 2015, © Forbes.com LLC™
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