For our International Business course we were asked to delve into a theoretical international expansion process for an established company. Our group chose Whole Foods, and internationalization into Australia.

1. Whole Foods Expansion into Australia
Courtney Christenson, Madlin Deignan, Sophia Heredia

2. 1
Table of Contents
Executive Summary………………………………………….………………………………………………………..…2
Whole Foods
Background…………………………………………………..……………………………………………………..3
History and Growth………………………………….………………………………………………..…………3
Competition…………………………………………………………………………………………………………4
Internationalization………………………………...…………………………………………………………...5
Entry Modes………………………………………...……………………………………………………………....6
Australia
Location…………………………………………...……………………………………………………….…………8
Decisions to enter Foreign Markets …………………………………………………………………....10
Entry Modes………………………………………………………………………………………………………13
Global Value Chain……………………………………………………………………………………………..14
Conclusion……………………………………………………….………………………………………………………….15

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Executive Summary
Whole Foods Market, established in 1980, is a leader in the natural and organic
grocery store segment, selling a wide range of produce, groceries, and other lifestyle
products to consumers who live a healthy life and would like their diet to reflect that. The
grocery store chain expanded largely from the 1980’s, today the company owns 470 stores
in the United States, United Kingdom, and Canada most of which were created through
mergers and acquisitions. Their target market includes consumers that not only value
sustainability, ethical production, and quality and organic produce, but are willing to pay
more for these qualities. Whole Foods caters greatly to vegetarian and vegan consumers
and those with specific diet constraints, providing many options for them versus at a local
grocery store.
Australia is presented as a culture that is embracive of health, wellness, and
sustainability which caters to Whole Foods’ mission to provide these types of products
with great transparency. As the world’s 14th largest economy, Australia represents a highly
opportunistic market for a U.S. business like Whole Foods because it demonstrates minimal
risk. Because U.S. companies and products are accepted and admired, about 1,400
American companies currently find success operating in Australia. However, it is not just
the economic factors that make Australia attractive, but also the language and culture that
are both similar to the United States and accepting of the business model of Whole Foods.
Australians values the organic and ethically grown products with high levels of
transparency that Whole Foods provides. We believe that bringing Whole Foods to
Australia through an acquisition would fulfill the overwhelming demand for organic
products, bring more jobs, technology, and best practices, further economic growth, and
increase culture awareness by adapting to the needs of the citizens.
In considering specific entry modes to begin internationalization in Australia, there
are multiple ways to market within the country. However, given past experience and
success in global mergers, Whole Foods should look to an acquisition in going into
Australia. With the intense competition within the retail and grocery market in the country,
Whole Foods as a brand would have difficulty obtaining market share off the bat, and
would need support in their supply and value chain development, as well in creating

4. 3
relationships with local suppliers, which is very important to the Australian demographic
(“Buy Australian!”). In the following report, we analyze Whole Foods’ opportunity in
Australia in more depth, while offering recommendations in the acquisition process.
Whole Foods
Background
Whole Foods, the largest chain natural grocery store in the United States, specializes
in selling a large variety of natural and organic foods operating 470 stores. The grocery
store chain positions itself in the natural food supermarket segment. Whole Foods Market
does not sell foods with high-fructose corn syrup, hydrogenated fats, many artificial
coloring and sweeteners. The stores contain a wide product offering that includes:
“produce, grocery, meat and poultry, seafood, bakery, prepared foods, coffee and tea, beer
and wine, cheese, nutritional supplements, vitamins, body care, pet foods and household
goods. Our stores also feature a wide variety of non-GMO, vegan, gluten-free, dairy-free and
other special diet foods; and certain stores offer sit-down wine bars and taprooms” (Whole
Foods Market, INC.). This diverse production selection appeals to many consumers,
according to Forbes, Whole Foods customers are: “154% more likely to earn more than
$200,000. They love to exercise and embrace what is termed “athleisure,” [...] Sixty-seven
percent are more likely to spend time outdoors” (Hyken). The company states that their
purpose is to “nourish people and the planet” which they support through making specific
standards for the way animals are cared for and slaughtered (“Our Core Values”). Whole
Foods strives to provide healthy food in an ethical way.
History and Growth
In 1980, Whole Foods opened after Safer Way Natural Foods and Clarksville Natural
Grocery store merged in Austin, Texas staffing 19 employees (“HISTORY AND TIMELINE”).
In 1984, Whole Foods expanded to Houston, another large city in Texas. After continuing to
expand in Texas, in 1988 Whole Foods opened in New Orleans, Louisiana. The grocery
store largely used mergers and acquisitions to expand into new areas during its early

5. 4
growth. In 1992, Whole Foods goes public with a IPO price of $1.06 per share or about
€.96. In 1997, their revenue reached over $1 billion (Lewis).
The company growth strategy varied in different places and from early growth
stages to continuous growth today. As previously stated, Whole Foods was created through
a merger, a strategy the company continued to utilize throughout its beginning expansions.
In the annual report for the SEC, Whole Foods stated their strategy: “Our growth strategy
includes opening new stores in existing and new areas and operating those stores
successfully. Successful implementation of this strategy is dependent on finding suitable
locations, and we face competition from other retailers for such sites” (Whole Foods
Market, INC.). Whole Foods implemented this strategy while expanding in the 1990’s. This
entry mode proved successful because the company being acquired had stores already
built which helped to lower startup costs. Additionally, the established companies had a
customer base that Whole Foods could tap into and the existing company has previous
knowledge on the demographics of the region.
The company expanded internationally in 2002 to Canada through a Greenfield
Foreign Direct Investment, this strategy allowed Whole Foods to have complete control and
because Canada, geographically, is close to the origins and the culture is similar, this entry
mode proved successful. The company advanced expansion into the United Kingdom in
2004 after acquiring seven Fresh & Wild Stores. Continuing to expand, Whole Foods
acquired Wild Oats Market which owned 109 stores. However, the courts did not agree
with United States Federal Trade Commission and stated that it would be unfair
competition, so Whole Foods sold 13 stores to be able to operate. Whole Foods became an
indirect wholly-owned subsidiary of Amazon.com, Inc in 2017, when Amazon purchased
Whole Foods at 13.7 billion dollars (Whole Foods Market, INC).
Competition
Whole Foods markets itself as a organic and natural grocery store similar to many
other grocery stores which makes the segment very competitive. Competition for Whole
Foods in the United States directly includes Sprouts and Trader Joe’s. Sprouts operates
similar to Whole Foods, selling solely organic and natural foods. Sprouts started in 2002
and expanded into eight states in the United States and currently has about 300 stores in

6. 5
19 states and plan on continuing to expand. Trader Joe’s another main competitor sells
quality food at a reasonable place. The store’s layout typically is smaller than that of Whole
Foods and offer a less diverse range of products but operates 400 stores. In recent years
other competitors include the large chain grocery stores. Consumer preferences and tastes
changed to be healthier so in order for stores like Kroger and Safeway to keep up, they
started to incorporate healthy and organic sections or aisles which now is in competition to
Whole Foods. Although, competition is rising for Whole Foods, the grocery store still has an
advantage because of the brand awareness (Bhasin). Consumers know that Whole Foods
specializes in organic food and that they will receive quality food.
Internationalization
Considering the structure of Whole Foods, and their unique selling proposition
which mainly consists of healthy, forward-thinking food discovery and preparation, their
methods of internationalization are certainly limited. They require a lot of support from
their supply chain, and rely heavily on local artists, food suppliers, and agriculture for
sourced products. This is part of the reason why Whole Foods is so successful as well; it
creates a unique and exciting experience at every Whole Foods store. There are pieces of
the surrounding culture at each store, and this entices the consumer, but it means that
internationalizing the store has deepened concerns and considerations. The brand now has
12 stores in Canada, as well as stores in the United Kingdom, with their global efforts
beginning about 20 years ago. In 2002, Whole Foods first traveled outside of the United
States, to Toronto, Canada, with a massive store in the Yorkville neighborhood. The Vice
President of Operations at the time, Walter Robb, said the brand was excited to provide a
new experience for “a variety of customers ranging from healthy families to serious
gourmet cooks,” clearly demonstrating the type of consumer demographic the brand
aspired toward (Newsroom). In terms of the locale, Robb described Toronto as “a very
sophisticated, ethnically diverse market,” as well as the Yorkville neighborhood being
located downtown. From this, the Whole Foods demographic begins to clarify: the brand
targets upper-class food and nutrition lovers, with an inherent appreciation for quality
ingredients, and naturally-sourced products. They see themselves as forward-thinking and
diverse, with food solutions that benefit their consumers health, family, and overall well-

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being. The brand as a whole has an image of sustainability and global awareness, through
multiple foundations, such as the Whole Planet foundation, Whole Cities Foundation,
Whole Kids Foundation, as well as their commercial support through their globally-sourced
products, such as their clothing lines they feature seasonally in-store. So, considering the
emphasis Whole Foods places on their global reach and global support, the question arises:
what are they waiting for in expansion, and which markets are ideal for their brand?
Entry Modes
Whole Foods is positioned as a company with a high-cost structure, but a very
differentiated value, and exceptional quality to match. The markets that they intend on
integrating into, must be able to sustain the higher prices for better quality foods. In the
past, Whole Foods has found success in commercial areas where wealth accumulates, in
cities that are growing and searching for newer and better ways of living. The locations
must also be logistically sound; the brand relies on local suppliers and natural processing,
so a dependable supply chain and transportation system is vital. As demonstrated by
Figure 1, Whole Foods is located on the upper left side of the efficiency frontier, serving as
an upper-scale grocery retailer, with consistent profit and innovative practices.
Figure 1: An Efficiency Frontier of Relevant Competitors

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A firm has many decisions to consider when entering into a foreign market, and
Whole Foods is no exception. Their strategy upon entering will depend on the market, their
ability to turn a profit, and the demographic they are working to attract. Firms can levy
their cost reductions and local responsiveness to fit one of four global strategies: global
standardization, transnational, international, and localization strategy. Although upon
entry, there may be many concerns and questions that arise, the basic examination should
begin with which markets to enter, when and on what scale to enter them, and ultimately,
how to enter them most successfully.
Australia
Location
As the world’s 14th largest economy, Australia presents a great opportunity for
Whole Foods. It currently has four major grocery retailers, and although Woolworth’s
captures a huge amount of market share (31%), none of them are positioned as the local,
organic, and ethically produced store that Whole Foods represents (Australian Help). This
gives Whole Foods an opportunity to capture that spot in the grocery food and organic
products market. Because Whole Foods is a U.S. company, it is to their advantage that the
U.S. culture is very well accepted and similar to that of Australia. There are no trade
barriers as of 2005, with the signing and implementation of the U.S./Australia Free Trade
Barrier allows about 99% of U.S. products to even enter tariff free. With standardized
packaged products that would come from Whole Foods’ home country of the United States,
this would minimize costs for Whole Foods in Australia, keeping them at the same typical
costs in the United States but relative to the costs in the new country. Since Australia has a
broad range of climates, it makes the country an optimal region for all types of crops, and
especially tropical fruits that Whole Foods specializes in. The economy in Australia is very
strong, meaning the country represents very minimal risk, and is even ranked as 14 of 189
countries for ease of doing business in 2017 by the World Bank Indicator. Australia also has
proven to be a very profitable market for United States, and the United States is Australia’s
largest source of Foreign Direct Investment valued at $690 Billion USD as of 2017. There

9. 8
are currently around 1,400 American companies operating in Australia with a broad
variety of sectors, which demonstrates the high propensity for success in a foreign business
relationship between the two countries and proves that past and current ventures have
been successful (Australian Department of Foreign Affairs and Trade).
One of Whole Foods’ core competencies includes understanding their target market
and knowing how to appeal to them. This will be no different in Australia, but to their
advantage, they would not have to drastically change their current strategy. Because of this,
we recommend that they develop a localization strategy to adapt to the different tastes,
food items, and products that are at demand and from primarily the local area. In addition,
because they are positioned as a premium grocery store and costs are similar to that of the
U.S. cities Whole Foods finds success in, there is not a high pressure to reduce costs.
In the United States, Whole Foods customers are most likely to live in California.
Parts of Australia that we would initially target such as Sydney are actually regularly
compared to California and Los Angeles because of the layout of the city, the mindset and
culture of the people, and the cost of living. Whole Foods has actually already expanded to
the United Kingdom and Canada, as its first international expansions through acquisitions.
These markets face similar costs of living to Australia, especially the larger cities that
where the stores are located. For example, the cost of living (without rent) in Los Angeles,
London, and Toronto, are $933, $1047, and $995 per month, respectively. This, when
compared with Sydney’s $955 per month cost makes Sydney seem like not just an
extremely similar market, but also a perfect place to start in Australia with many potential
customers (Numbeo). According to Forbes, “Compared to typical shoppers, Whole Foods
customers make more money, as they are 154% more likely to earn more than $200,000.”
With the larger cost of living in these markets, it is logical to conclude that wealthier
individuals live in Australia and would therefore be more likely to purchase from Whole
Foods.
Furthermore, it’s no secret that Whole Foods is priced higher than your typical
grocery store. However, the demand does exist in Australia, and it’s even growing. With the
2015 major update of the food period in Australia, people are working to increase their
consumption of fruits and vegetables and combat poor eating habits, which was the reason
for the update to begin with (Everyday Health). Data from Mobium Group demonstrates

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that 1 in 10 Australians consider themselves to be highly committed organic purchasers,
setting aside about 40% or more of their annual grocery budget on organic food and
products. These statistics prove the many opportunities for Whole Foods present with the
increase in industry demand, not just in groceries, but in household items as well.
According to Nick Bez, the director of research company Mobium Group, “Australians [are]
becoming more embracive of health, wellness and sustainability.” He goes on to explain the
the market began as fairly niche, but is now very mainstream, common, and even preferred.
Australians, but even society as a whole, are gaining interest in the treatment of the
environment and animal welfare such as life export. Andrew Monk from Australian Organic
says consumers are now “asking questions and want integrity in the food that they buy.”
The organic, ethically grown and produced, and high levels of transparency in Whole Foods
all cater to this preference (Naturally Good).
The demand has grown significantly as of lately, even a creating a fear that the
supply can’t even keep up with the demand. But it is not the lack of resources that is
causing the shortage, but actually a lack of supplier. Australia holds over one half of the
world’s certified organic farmland, 27 million of the 51 million organic hectares planted
globally (In the Black). About the size of the United States in land mass but only about 25
million in population rather than the United States’ 327 million, the majority is not full of
city life but instead is either desert land, or can be used for farming. The demand is highest
among millennials and parents that have young children, which matches up perfectly with
the target market of Whole Foods currently in the United States and even the United
Kingdom. Research done by Mobium Group even suggests that six in ten Australian
households by organic in a given year, making Australians the world’s 16th highest
spenders on organic products per capita (Smart Company).
This globalization of Whole Foods would prove to be positive as well. As
demonstrated, there is a major demand to purchase ethically grown and organic produce in
Australia but as the demand often exceeds the supply, it is not always possible. As Whole
Foods has previously done in Canada and the United Kingdom, they would increase cultural
awareness by adapting to the culture and preferences in Australia. They would bring more
jobs to Australia as well and bring the best technology and practices to operate as
efficiently as possible. This would push it to grow even more economically, as it is already

11. 10
the country with the longest period of economic growth since 2017, surpassing the
Netherland’s record of 26 years (Reserve Bank Australia). Bringing Whole Foods to
Australia would bring a company that is already familiar with similar markets and can
predict trends and preferences because of this, and with the help of Daymon consulting,
that they are currently working with in the United Kingdom and Canada.
Decisions to Enter Foreign Markets
Whole Foods is a high-price grocer that relies on budding infrastructure and high
community standards. The most common locales for stores are centered in urban areas,
where sustainability and progress are a focus. Because of Whole Foods’ USP as a highly
progressive, sustainable, high-end food retailer, with locally-sourced foods, the store
location is highly dependent on surrounding infrastructure as well as atmosphere. Whole
Foods thrives on communities that are focused on societal growth and progress, as well as
environmentally-oriented, and able to carry the higher price range. They desire a
demographic that feels quality is worth the money, and this type of consumer is not found
in every neighborhood, nor every city. Figure 2 displays the clustering of stores throughout
the United States, which clearly follow a commercial path in some of America’s most
progressive cities (“This Is Where Whole Foods (Soon, Amazon) Has Stores in the U.S.”).
Figure 2: Whole Foods Locations in The United States

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In considering new markets, the demographic should be similar to where the brand
has found previous success. Australia fits well in this department; the country is parallel to
the United States in many aspects. To measure the similarities, we look toward a SWOT
analysis. Primarily, the Strengths are the most crucial beginning point in considering
entrance into a new market; without obvious robust promise in the market, there is little
potential for internationalization. Thus, to begin with, the two countries share a common
cultural heritage, language, as well as a history of strong political support. In the country,
American products have “excellent image and acceptance” (Crothers and Santella, 3). Also,
the climate is similar within the northern hemisphere for the diet of the country, which is
likewise synonymous with that of the United States, especially the western portion of the
country. Australia also has great connections with the rest of the world--untouched by
Whole Foods brand. The country holds strong trade relations with Asian emerging
economies and would allow for future expansion opportunities. Although the country is
extremely large, the population is much smaller than the United States, which is of similar
geographical size. Of about 24 million people that live in the country, over 90% live in
urban cities, like Sydney, Melbourne, and Perth. This small population also accounts for
Australia’s high GDP per capita, which is a great measure of economic efficiency. The
country is incredibly fertile, with varied landscapes across the wide expanse: from desert
to wet and forested areas, Australia has the ability to provide foods from across the
spectrum of agricultural means. Lastly, the country has an incredibly diverse and
multicultural population - similar to that of the United States. The cultural identity pulls
from various areas of the world, from southern Europe to the Middle East to Asia, these
identities are largely represented in the food culture of the country. Australia has Free
Trade Agreements with countries like New Zealand, Singapore, Chile, Malaysia, Japan,
Korea, and China (Crothers and Santella, 3).
As for Weaknesses, there are some obvious problems. Australia has “strict
quarantine requirements for fresh products,” which is what Whole Foods entire structure
is based on (Crothers and Santella, 3). Also, the laws regarding advertising and other
marketing efforts are much different in the country, which calls for extra scrutiny.
Regardless of the weaknesses in internationalizing, there are many opportunities available

13. 12
as well; the US/ Australia Free Trade Agreement allows for much easier and cheaper
transfer of products, which will incite new opportunities to gain market share for products
not previously available in Australia. To complement this, the Australian consumers have
an experimental nature, and desire innovative products and brands (Crothers and Santella,
3). Finally, the Threats to moving to Australia are important to consider. There is a large
emphasis on buying locally and home-sourced products in Australia, and the country has a
“Buy Australian” campaign. Furthermore, the retail and grocery segment in particular has
extremely potent competition (Figure 3), with substantial market space already occupied
by local leaders. In order to successfully gain this market share, Whole Foods must have a
creative and strong colonization tactic.
Figure 3:Market Share in Retail Segments in Australia, 2015-2017
The similarities between the markets are immeasurable; Australia is an example of a
country that follows the diverse nature of the United States, as well as prefers healthy and
sustainable foods that are sourced locally. In terms of the when and where to enter, with
international growth stable in the UK and Canada, as well as with the backing of Amazon’s
presence, Whole Foods is at a point in which entering the Australian market can be
fortuitous. The value of food and liquor retailing in Australia grew by 6% in 2017 totaling
US$116.7 billion (Crothers and Santella, 3). In terms of where, the most promising
locations in the United States as well as in Australia, are in urban locations. Considering the
population density in Australia in particular in the main cities, growing neighborhoods in
Sydney, Melbourne, or Brisbane would be encouraging. These cities are also located near

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the coast of the country, similar to the states with the most successful stores in the United
States.
The “How” begins to complicate the situation. Despite all the commonalities and
benefits to internationalizing in Australia, Whole Foods would face heavy competition,
among other difficulties. The country has four chains that dominate the grocery retail
industry: Aldi, Woolworths, Coles, and IGA. Woolworths, in particular, poses the greatest
challenge toward Whole Foods. They are an incredibly developed brand, with a majority
control of the retail space within Australia, and a focus on healthy retail. The retailers,
according to the USDA Retail Food Report from 2018, are interested in sustainability, waste
reduction, integrity of food production systems, and healthy eating - sound familiar? Whole
Foods contains the USP and structure to fit the Australian demographic, but breaking in
amongst the competition poses the biggest challenge. Moving forward, the decisions that
Whole Foods will need to make must revolve around the competition in their market, and
how they will be able to gain market share.
Entry Modes
Whole Foods Market has many different options to enter the Australian grocery
store market, however some might be more beneficial regarding costs and profits over
another. As previously discussed, in previous growth strategies in the United States and the
United Kingdom, Whole Foods acquired other grocery store chains. Report from Australia
states: “Most grocery shopping is still done in the major supermarkets with consumers
preferring the convenience over supporting local and independent outlets. However,
shoppers indicated that local green-grocers and markets hold sentimental value and they
would choose to go to them if possible, for their fresh fruit and vegetable purchases”,
meaning that there is a market for Whole Foods in Australia, and already existing stores to
meet the customer needs. Whole Foods would benefit by acquiring one of these grocery
stores chains specializing in natural groceries. Choosing to acquire a chain would allow for
easier distribution: “Major chains and wholesalers have their own distribution centers and
national coverage”. Buying a grocery store chain like Harris Farm Market would allow
Whole Foods to enter the market without needing to build their own stores right away
which would cut startup costs. Harris Farm Market offers 25 stores within Australia that

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specializes in produce which would appeal to the same consumers that Whole Foods
Market targets. Harris Farm Markets, an independent grocery chain, would be the best
choice because Australia does not have other organic and natural grocery stores of this
size. Additionally, Harris Farms: “would be the equivalent in Australia both in terms of
product quality and market share, he said, but it only operates in NSW and Amazon likely
has national ambitions and acquiring stores like” (Heffernan) . Whole Foods being familiar
with acquisitions would make this entry mode the best option for the company to enter the
Australian market.
Global Value Chain
In Australia, Whole Foods should take advantage of the local produce and products
from the country. The USDA Foreign Agriculture Service states that distribution points in
Australia are centralized, meaning that supermarket chains typically operate their own
network of both national and regional distribution centers, allowing Whole Foods the
opportunity to manage the quality of their service. As mentioned, the country of Australia is
huge in land mass and relatively low in population, meaning much of the land is used for
farming and agriculture. As a result, many of the products are able to be made within the
country, causing for more quality ingredients than had they been imported from elsewhere.
Because of the immense size of the country, different agricultural products are known to be
best produced at the best quality from certain regions. For example, Queensland is known
for its superfoods of nuts, rich berries, fish and seafood. Victoria, Tasmania, and South
Australia are known for rice and corn in the summer and grains like wheat and oats in the
winter. Lastly, the seemingly endless plains of Western Australia are rich in dairy products,
wool, meat and honey. As stated by Whole Foods and written on their website, “if you want
to know what goes into the products you buy, our standards make it easy, because if it
doesn't meet the standards, we won't sell it (WholeFoods.com).” By working with
producers and suppliers in the same country, Australian citizens would trust the products
and Whole Foods would not have a hard time tracking down the compliance and quality. In
addition, they have a list of unacceptable ingredients on their website, further proving that
they make a point to confirm with their suppliers that their products are free of

16. 15
hydrogenated fats or artificial colors, flavors, preservatives, or sweeteners in any of the
foods that they sell.
Because Whole Foods needs to be held to such high standards, we recommend they
streamline their supply chain to maintain as efficient and organized as possible. To do this,
they should review their supply chain processes to first off keep track of where each
product is coming from and how it is produced. In addition, this will further reduce costs to
make it the pricey products more accessible and able to be purchased with more frequency
while pinpointing any possible inefficiencies throughout their operations. Whole Foods has
already begun implementing “Off the Shelf” software which allows for the quicker
transition of their items. It is designed to cut costs, reduce unnecessary inventory, and clear
out warehouse space. However, this has unfortunately led to a lack of items, so more
personnel will need to work to refine the system to better forecast demand (Michigan State
University).
With Amazon’s recent acquisition of Whole Foods in August of 2017, more of these
best practices have already begun to take place. Amazon has begun working with strategy
firm Daymon to further streamline how Whole Foods works with each of its suppliers that
want to do in-store demonstrations. Daymon facilitates in-store displays and overseas
inventory, so they would be well positioned to help with the new ventures in Australia.
Because of these steps, Amazon has been able to reduce prices for popular items such as
eggs and almond butter and will be able to price-reduce more items the more efficient they
become.
Conclusion
We recommend that Whole Foods expand to Australia because of the large demand
for organic and healthy products but currently low availability to consumers. We believe
Whole Foods will particularly fill this demand and find relatively little obstacles if it
approached the market through an acquisition. We researched different companies that
Whole Foods could acquire and came to the conclusion that Harris Farms Market would
make the most sense looking at the target market and number of stores. The Australian
economy is currently thriving, and continues to face dramatic economic growth, making it
an optimal place for a U.S. business to move to, especially with the lack of a language

17. 16
barrier and similarity in culture compared to the markets where Whole Foods currently
finds success. If the company successfully captures the market, and begins to make
headway in market share, Amazon as well as Whole Foods will benefit immensely from
tapping into the new international demographic. The opportunity can lead to further
internationalization into Eastern European countries as well as Asian countries, which are
greatly intertwined with the Australian economy, workforce, and public identity.
Furthermore, this internationalization will allow the Whole Foods company to diversify
even more, and really express their devotion to a “Whole World.”

18. 17
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