Wegmans Food Markets

Wegmans Food Markets

Explain why you selected this organization.

I have selected to analyze Wegmans Food Markets for several reasons. I shop at this particular super market and I have always been impressed by the variety of services and food that they provide for a very competitive price. I particularly want to analyze this organization because Wegmans in its 94-year history has never had a layoff. The food chain seems to have a great ability to adapt to the changes that are needed in the local market in order to compete successfully. Some of its competitors in the market where I live are food establishments like Giant, Acme, Shop Rite, Bottom Dollar, Aldi's, and other food chain establishments. According to CNN Money, Wegmans is noted as one of the best groceries in the nation and rated as number 3 in the top 100 best companies to work. (1)

Of what personal or professional importance is it to you? I currently work in the service industry for a top financial firm that stresses the importance of customer service. I think great customer service is invaluable in a service oriented industry like a food market chain. Wegmans approach to business is that the employees meet with each other frequently to review customer suggestions to take into consideration customer suggestions and employee input. Unlike some companies that have customer suggestion but do not act aggressively upon the suggestions of the customer. Wegmans prides itself on acting upon customer suggestions and giving the customer a great shopping experience.

I like the organization because it has a large variety of selections, bonuses and discounts in the store, and convenient shopping. You can stop at Wegmans for lunch and go to Wegmans for dinner. Wegmans even has a bar, a lounge, and a children's play area. The store even has a big health food section and a florist shop. Its amazing to me that a store of this size has been able to out perform and educate other food chains with its unique business approach to food shopping.

What do you hope to accomplish by conducting an economic analysis for this organization? I want to understand by analyzing Wegmans economic financials what allows them to be successful as a food market. Also I want to know what is Wegmans doing that is allowing it to be a top food market store in its industry.

Will you be working with a sponsor within the organization? I will not be working with a sponsor within the organization.

Operations and Financial condition.

The Wegmans chain in 2010 generated $5.6 billion in annual sales and continues to maintain its strong position in the Northeast with plans to open its first Massachusetts store in Northborough in October. Last month Wegman was recognized by 1SYNC an industry data pool for his company's leading efforts in data synchronization. Wegmans has also been getting recognition for its environmental programs including a GreenChill Gold-Level store certification at a Maryland store from the Environmental Protection Agency