Friday, December 4, 2015

Wakefern Food Corporation: Cooperative Model Taken to the Next Level

Founded in 1946 with its headquarters in Keasbey, New Jersey, the Wakefern Corporation is considered as a pioneer in taking the cooperative business model to the next level. The corporation, after all, is the biggest retailers’ cooperative group of hypermarkets and supermarkets in the United States as well as the State of New Jersey’s largest employer with over 36,000 workers.

Wakefern’s business model is one of the most successful as evidenced by its success, such as owning one of the largest trucking fleets and being the fourth-largest cooperative in the United States; it has over 3000 stores. In 2015, its overall revenue was $15.7 billion, an impressive feat considering the decreasing revenues of many of its competitors.

Wakefern has also been the recipient of many awards for its business model. These include the Retailer Excellence Award by Supermarket News in 2011; the Retailer of the Year by The Griffin Report and Progressive Grocer in 2011; and one of the Best Places to Work in New Jersey by NJBIZ Magazine in 2012.

No comments:

Post a Comment