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Wegman

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by

Marie Davidson

on 19 April 2016

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Transcript of Wegman

Group 13--Marie Davidson, Zach Daniel, Billy Dalton, Justin Cunningham & Kelly Curran
Background
History and Industry Position
Products and Performance
Management Practices
Social Responsibility
1916
1960
1930
1940
1950
1970
1980
1990
2000
2012
1916-Rochester Fruit & Vegetable Company
1921-bought Seel Grocery Co.
1930—20,000 square food store with cafeteria
1931-incorporated

1930-meats, produce, groceries, dairy products, and baked goods
1940—frozen foods appear
1949—self-service format
1953—employee benefit program
Foundations
New Developments

1968—first Syracuse store (1st outside Rochester)
1971—Consumer Affairs Department is created
"serve as the voice of the consumer in management"
1972—first pharmacy opens
1974—laser scanning to read UPCs printed on products
1979—Wegman's Brand items introduced
Expansion and Advancement
Employee, Customer, and Community Benefits
2010
Current Developments and Recognition
1983-Wegman's Scholarship Program is created
1987-Wegman's Work-Scholarship Connection
college education and career training
business incentive and positive impact
1990-Plastic grocery bag collection for recycling begins at all stores
1991-Strive for 5 program
"Eat well. Live well."
1996—Fortune "Top 100 companies" ranked #68
2002—Golden Shopping Cart award
2003—Most Family Friendly Supermarket in America
2005-Fortune's “Best Companies to Work for” ranked #1
What Wegman's Offers
Grocer that combines the quality of Whole Foods with the services of "big four" grocers
Incredibly vast array of services and products
Extremely loyal customer base
Own brand of food products
"Food You Feel Good About"
Services
Bakery
Florist
Video Rental
Bookstore
Dry Cleaners
Prepared Food
Financial Data
Incredibly impressive sales per sq. ft.- almost $15
Operating margins double those of the "big four"- 7.5%
Employee loyalty- 6% annual turnover, 20% more than ten years of service.
"We do not inherit the earth from our ancestors, we borrow it from our children."
North American Proverb
Competition
Competition from two fronts
High-end (Whole Foods)
Price competitive (Wal-Mart)
Beats Whole Foods with customer service
Beats Wal-Mart with variety and consumer experience
“A race that will be won by 'who’s best at getting to what the customer wants first.'"
General Takeaways
Bridges gap between high end and price competitive supermarkets
Extremely loyal customer base that is acquired through customer service
Wegmans Brand and in-store variety keep
Sources
http://money.cnn.com/magazines/fortune
http://archives.republicans.edlabor.house.gov
http://www.fundinguniverse.com/
http://www.wegmans.com
http://bi.galegroup.com.proxy.library.nd.edu/essentials/company/519265
http://money.cnn.com/magazines/fortune/fortune_archive/2005/01/24/8234048/index.htm
http://bostonherald.com/business/general/view/20220823wegmans_freezes_prices_on_some_products_until_end_of_year
http://www.privatelabelmag.com/issues/pl-march-2010/Danny-Wegman.cfm
http://bi.galegroup.com.proxy.library.nd.edu/essentials/article/GALE%7CI2502020149/4215e9ccfce287883e2a3ff71a49f53e
http://bi.galegroup.com.proxy.library.nd.edu/essentials/company/51926
http://www.businessmanagementdaily.com/29227/at-wegmans-every-employee-counts
http://money.cnn.com/magazines/fortune/fortune_archive/2005/01/24/8234048/index.htm
http://search.proquest.com.proxy.library.nd.edu/abiglobal/docview/227025963/1391899CD6D537BDDB/1?accountid=12874
http://money.cnn.com/magazines/fortune/best-companies/2012/snapshots/4.html
http://search.proquest.com.proxy.library.nd.edu/abiglobal/docview/219439818/139185E479A48A9CBD8/1?accountid=12874
http://www.wegmans.com/webapp/wcs/stores/servlet/ProductDisplay?productId=346193&storeId=10052&langId=-1
Based in Rochester, New York
Primarily in the East – North East
majority of market share in Northern NY
expanded to more of the Eastern Seabord in (MD, MA, NJ, NY, PA VA)
79 total Wegmans stores
Supermarket Industry

Constantly improved financially when compared to their competitors
One of the few companies that grew during the depression
Delivers what they say is a “superior” product
Loathes becoming a huge supermarket brand to keep up with individual stores
Strong Competitors
History and Industry
Reduction of cost
Increased Efficiency
Product Variety
Customer Satisfaction
Driving Factors

Loathes becoming a huge supermarket brand to keep up with individual stores
Helps the company focus on the driving factors more individualistically
More involved with its social status than its competitors
2007--Stopped selling tobacco products
2009--slashed prices on generic drugs to save money for customers
Began to sell $6 meals
Differentiation
Bubble System
Creates a common language
5 job families simplified from 100 jobs
Core group of 5 classes per family
Additional courses at successive levels
Include skills used throughout the store
customer service and interpersonal relationships
safety and conflict resolution
interviewing and selection
Manager Training
"From fish packing to cutting bread"
Simplified Management
Loyalty to Employees
Labor costs between 15% to 17% of sales
Roughly 12% for most other supermarkets
Simplified and clarified necessities for advancement
Necessary certifications explained
Look to advance current employees before hiring new ones

Loyalty to Employer
6% turnover rate
Roughly 19% for other supermarkets
High customer service
Loyalty
Employee Personal Improvement
Management => Employees => Customers
Employee Treatment
Ability to pamper employees with no stockholders to judge
Unburdened by hierarchies
Benefits of Practices
Employee Retention
Employee Passion
Based in the North-East/Eastern Seaboard
Noticeable rise in financials, even through recession
Keeps a close relationship with its individual stores
Implements deals and makes decisions that will benefit society and their loyal customers
Summary
Plastic Bags
Reusable Bags
Recycling Program
Collection
40% Recycled Content
Mission Statement
Food for the Hungry
Check Out Hunger
Donations at Register
Kids Cafe Program
Boys&Girls Clubs
Churches
Schools
Kidzpack
Every Friday
Non-Refrigerated Foods
14.9 Million Pounds in 2011
Family Atmosphere
79 stores total, new markets—New Jersey (2000), Virginia (2004), Maryland (2005)
2005-Wegman’s School of Pharmacy at St. John Fisher College
2010—iPhone app launched
College Scholarships
for Part- and Full-time Employees
More than 17500 for $54 million over 20 years
Free
Smoking-Cessation
Program
24/7 health hotline
Supports
learning
in all forms
Culinary Institute of America's Concepts Program
Hyde Park, New York

Impressive margins and revenues relative to size
the customers coming back
Full transcript