IT'S A MATTER OF TRUST

On July 20, 2015, The Wall Street Journal reported the disappointing quarterly results for Whole Foods Markets, a natural-foods grocer.  Sales at established stores rose 1.3% in the three months ending July 5 - its weakest growth since 2003 (WSJ, 7/30/15, p. B1). The main explanation for the modest sales growth was the increasing competition from mainstream retailers that are now stocking local and organic food.  However, pointing the finger at increasing competition may be just masking the real reason for the modest sales growth at Whole Foods.

Whole Foods prices have always been considered on the high side (to some on the very high side).  Customers were willing to pay for the quality, convenience and the "trust" in the local and organic foods.  The Whole Foods value proposition can simply be, "buy our foods to keep you and your family healthy, and help the world be healthy as well."

However, this value proposition was damaged recently with New York officials finding the "company had mislabeled weights of freshly packaged foods like vegetable platters and chicken tenders, leading to overcharges of under $1 to nearly $15 an item" (WSJ, 7/30/15, p. B1).  In response, Co-Chief Executive Walter Robb said, "By any measure, it had a significant impact on sales. If trust is broken, it has to be rebuilt a step at a time."

Whether you are selling organic foods, building cars, running a staff meeting, selling a product to a prospective client or even cooking dinner for the family, "trust" is a significant ingredient to ensure the confidence and loyalty of those you are serving.  It has been said that with trust, a relationship can foster and grow; without trust, there is no relationship.

Today, take a moment to reflect on how you foster and build trust with those you serve and with those you lead.  Examine how your product and services communicate to your customers - honesty, transparency, competency, accessibility, and humility. Each value contributes to instilling trust with those who you serve; those that trust you.

Simply put, when it comes to serving others ... it's a matter of trust.

Until Next Friday,