Woolworths Holdings Limited
Brief Objective
Conduct a Vega Healthy Brand Analysis on Woolworths Holdings Limited to determine whether it is a healthy brand.
Insight
Value-based and purpose-driven brands, thrive in competitive markets.
According to Woolworths Holdings Limited’s (WHL) website, they are a retail brand operating in the southern hemisphere, with head offices in South Africa and have been listed on the Johannesburg Limited Securities Exchange (JSE) since 1997.
The brand was established in 1931 and are now one of the leading South African retailers, which offer a variety of private brand products. The brand offers a variety of quality commodities, clothing, food products, as well as financial services. Their private clothing brands include Woolworths; Studio W; RE:; JTONE and Distraction.
I have conducted a Vega Healthy Brand Analysis on Woolworths Holdings Limited, as I have assessed their Good Business Journey Report that indicates what they are currently doing to be a sustainable brand.
Vega defines a brand “as a particular and unique construct that creates, communicates and sustains value for all its stakeholders through its products and/ or service”.
According to Cook et al (2010), the concept of a healthy brand is one that considers the idea of identity, value, sustainability and communication authenticity, as well as being able to move away from being solely profit-focused and business driven (Sustainable insight, 2010).
The Healthy Brand criteria are used to assess a brand's positioning as well as establish its overall wealth. In a world where the ‘new’ consumer mindset reigns, we begin to understand the urgency to understand issues that deal with sustainability and responsibility. Brands need to adapt to the ongoing environmental change as society continuously impacts the planets capacity to provide for us.
Particular meaning
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The group’s values guides the way they operate, from leadership to passionate brand support, they look to embed their values across the business. Their values are that quality; style; value; customer service; innovation; integrity; transparency; energy and sustainability.
Unique meaning
Their sustainability vision and focus areas are; transformation, social development, health and wellness, ethical sourcing, sustainable farming, waste, water and energy.
Effective and engaging communicator
Based on the ‘Are You With Us’ campaign with Pharrell, Woolworths shows to be an effective communicator as they engaged with their consumers to participate in a sustainable future. As well as, they provide consumers with the relevant information on their packaging advising them of the origins, content and recycling options available to their consumers.
Adds value
Social development is implemented through corporate social investments, such as their flagship programme that is managed and initiated by Food & Trees for Africa where they are able to help disadvantaged schools and communities gain skills that will allow them to grow their own food, through their partnership with EduPlant; their MySchool Fundraising programme and Making the Difference Educational Programme; a system where they divert surplus foods from their stores towards impoverished communities through structured charity organisations as a means of addressing the issue of food security; and the donation of extra clothing, as well as previously owned clothing through the Clothing Bank.
Transparent
Woolworths Holdings Limited has a Good Business Journey Report that indicates how they ensure that they address the impacts that they have on the social and environmental landscape, which is published yearly, along with the integrated and annual financial report.
Sustainable relationships
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The Good Business Journey Report showcases one of the brand’s values of sustainability, where they scored 86% based on the Global Reporting Initiative (GRI) guidelines, JSE Socially responsible investment index criteria and other legislative requirements.
Profit is not a driver
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Woolworths Holdings Limited shows to be a healthy brand, as they meet the criteria of the first 6 requirements of the Vega Healthy Brand analysis.