It is inevitable that in the business industry that corporations are competing with eachother to be number one. But is it fair to steal or copy ideas from another company in order to achieve success? That is what is going on between Whole Foods and Walmart.
Whole Foods is taking a few prompts from Walmart in its most recent push to shed its “entire paycheck” picture. The staple chain is currently stamping its paper shopping packs with a well-known slogan: “great everyday low prices.”
The slogan is well known on the grounds that it’s almost indistinguishable to the acclaimed “everyday low prices” motto that has been at the focal point of Walmart’s promoting system throughout the previous 50 years. The idea driving the procedure and slogan is this: Customers don’t have to sit tight for coupons or deals to shop at Walmart, in light of the fact that Walmart dependably offers the most reduced costs.
Numerous retailers have endeavored to duplicate that idea throughout the years, yet few have been fruitful. Most retailers fall back on the all the more usually utilized limited time procedure known as “high-low” promoting that is set apart by regular deals and coupons.
It’s vague whether Whole Foods was purposefully replicating Walmart’s slogan on the shopping packs, or in the event that it was just an oversight. The organization did not react to Business Insider’s ask for input on this story.
Whole Foods initially began alluding to “regular low costs” a year ago when it reported the rollout of its less expensive chain of stores, called 365 by Whole Foods Market. In an official statement, the organization claimed that the new stores will offer comfort and regular low costs on characteristic and natural items.
Whole Foods propelled the 365 chain, to a limited extent, to empower the organization to achieve more lower-pay, urban markets where a conventional Whole Foods store is more averse to succeed.
Presently, despite declining same-store deals at its customary stores, Whole Foods is moving the “everyday low costs” methodology to its namesake chain, which has battled with the observation that its nourishment is overrated, subsequently acquiring the nickname “entire paycheck.”
The organization has dropped costs to attempt and better contend with the developing number of retailers now offering normal and natural nourishments. Be that as it may, deals at stores open no less than a year are as yet falling. Entire Foods’ same-store deals dropped 2.6% in the latest quarter.
To conclude, here are facts from both stores. First lets look at Whole Foods. Wall Street Insanity claims that starting out with humble beginnings in Austin, Texas, and Whole Foods Market is now the largest supermarket retailer of natural and organic food products in the world. Secondly, if you had the power of teleportation, you could visit a different Whole Foods Market store every single day of the year — and into the next year. There are 385 Whole Foods locations around America, Canada and the U.K.
Now looking at Walmart here are some facts provided by AOL. In fiscal year 2012, Walmart registered approximately $444 billion in sales, which is $20 billion more than Austria’s GDP. If Walmart were a country, it would be the 26th largest economy in the world. The average family of four spends over $4,000 a year at Walmart. Lastly, each week, Walmart serves more than 200 million customers at more than 10,400 stores in 27 countries.