Woolworths Limited : An Australian Company

3574 Words15 Pages
Woolworths Limited is an Australian company. It is the largest retail company in Australia and New Zealand by sales and largest food retailer in Australia. As of now it more than 180,000 employees that represents about 1.5 % of Australia’s population. Woolworths majorly focuses in retail and liquor sector but has it’s own petrol stations and it recently entered in home improvement sector. Woolworths first store was opened in 1924 and it was the first store in the world to use cash register to print receipts for customers.
The company is primarily in the product business. It has more than 3000 stores in Australia and New Zealand. It is one of the largest retain giants in the world. Its major business comes from selling products, which it
…show more content…
96% of its fresh produce comes from within the Australia, which also help in keeping the price low. It earns its gross margin by developing better handling and storage practices and maintaining quality thus reducing the wastage and saving revenue. It also promotes its product by frequent sale and clustering of products does making bulk sales. It has its own producing label that has helped supermarket, since a lot of people prefer to buy home brand product because of its cost and quality rather then imported products. It also buys the product directly thus removing the middlemen cost or commission. Their long, strong and old relationship with its supplier is another reason for Woolworth’s business success. Woolworths became the first company to introduce an issue or complaint redressal system specifically for vendors or supplier who are unable to bring issues through other means. This shows their commitment to the suppliers and hence to their business growth. According to the financial reports of 2014 Woolworths limited did a sale of 60.8 billion dollars, its net profit after tax was 2,451.7 million dollars.

Any business majorly focuses on 4 major models these are marketing, financial, operational and competitive. For an organisation to succeed
Woolworths have a strong business model that makes it front-runner in retail industry in Australia. It’s focus on customer growth and retention by offering them low prices and offers. It has provided more than
Get Access