The Impact of COVID-19 on Company Management Essay

The Impact of Covid-19 on Whole Foods Market, Inc.
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The Impact of Covid-19 on Whole Foods Market, Inc.
Covid 19 poses a high negative impact on the food industry. Whole Foods Market being an organic foods outlet, will feel the effect. Their specialty is on products that are natural and organic. Their products are highly perishable fresh produce. Their products, therefore, have a short shelf life, which makes the store record very high traffic since most consumers shop three or two times a week. This segment will, however, be hardly hit by the outbreak of covid 19. The disease is quickly spreading hence creating a high necessity for quarantining and social distancing. Therefore, fear of contagion is making people restrict their movement to the stores. The fresh products in Whole Foods are therefore likely to go bad due to the reduced traffic in the store hence recording high losses.
Additionally, most people are not working, resulting in a reduced flow of income. With such uncertainty, people will spend less or focus more on purchasing cheap products (COVID-19 pandemic –2020). Whole Foods solely sells organic and natural products that can be quite high in price compared to other products grown through chemicals. When people focus on less diverse diets, the company will have fewer customers hence fewer sales. Generally, most consumers of organic products are the older population. Notably, this the group that is mostly being hit by covid 19. When that population reduces, Whole Foods Market will record fewer customers.
As a result, the performance of Whole Foods Market will be affected, which might make it less competitive. The store, for instance, sources its products from specific foo...