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Pestel Analysis For Whole Foods

Good Essays

According to Paine (2011), choosing a comparative tool is the key to an evaluation program, and the tool is only effective when comparing with competitors and peers over time (p. 37). Next, internal and external benchmarks will be defined, and Whole Foods Market will be compared with two competitors.

Internal Benchmarks

Revenue

 How many gift cards (both physical and e-card) are paid through the website?
 How many orders are made online?
 How much money was generated from the website?

Website Engagement

 How many visitors signed up or renew membership?
 How many visitors subscribed emails for receiving news?
 How many visitors followed social media accounts?
 How many reads, likes, and shares blogs got from the visitors?
 How …show more content…

 How many participants chose Whole Foods Market as their primary shopping site through a customer satisfaction survey?

External Benchmarks

I chose Sprouts and Trader Joe’s as Whole Foods Market’s competitor due to all of them sell organic and natural products. To compare each brand’s communication vehicle (website), the first step is to rank their traffic trends. According to the chart below, in the past 6 months, wholefoodsmarket.com had a significantly higher traffic rank than the other two.

(Source: Alexa.com)

When comparing the percentage of total traffic, surprisingly, sprouts.com got the highest rank of the percent people visited the website directly. The higher percentage of visiting the website directly, the better the brand did for promoting its brand with less invest. Trader Joe’s got most of its traffic from direct search, which means visitors have a high degree of brand awareness. This chart provides clear comparison results that wholefoodsmarket.com needs to improve in promoting through social media and increasing brand awareness.

(Source: Alexa.com)

Functionality Comparison

Whole Foods Market Sprouts Trader Joe's
Basic …show more content…

According to Andre (2013), “grocers have to think outside of the box and offer more to their clients in order to increase customer satisfaction and loyalty” (p.1). Since customers’ shopping style has been changed, groceries should change their marketing strategy from a long-term perspective. As we discussed earlier, Whole Foods Market has developed its application that allows customers to buy products through smartphones. Customers can make orders through smartphones and pick up later, which saves plenty of time, especially for some working parents. This cool technology is not only attractive but also helpful fostering customer loyalty. Whole Foods Market’s website promotes its smartphone APP constantly and describes the benefits of downloading the application, which are also ways of offering the convenient shopping experience for

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