damn it i shop the trader joe's for this fancy cocktail party trader joe's is not for everyone
they understand their target market and do a great job giving their fans what they need
here are 10 reasons trader joe's is so successful oh i would love a trader joe's they understand
their target market you've been targeted for shermination come with me if you want to live
for most grocery stores their target market is everyone who eats trader joe's however as anyone
knows who has set foot in one is not a typical grocery store tell me about it early on they
chose a target market and they have stuck with it while the term yuppies came about decades ago and
may not be used as much in today's world there are still young urban professionals in cities
across the country these folks are highly educated but perhaps not as wealthy as other segments of
the population trader joe's decided to focus on healthy options food from different cultures and
things that would appeal to these recent college grads still today this target market feels at home
walking into a trader joe's which is more than most grocery store chains can say fresh inventory
fresh lettuce is my all time favorite food do you have any more of these in the back room a
shopper may ask in a big box store what back room would be the answer at trader joe's their business
model moves product directly from the delivery truck to the store shelves chipotle's not the
only one keeping everything fresh this business model means the entire trader joe's store is fresh
every day nothing better than when they're fresh not so dire this also allows for seasonal variety
keeping prices low for the target market customer and an evolving inventory brings customers back
those recent college graduates those yuppies want something new and fresh and trader joe's offers
them that on the daily try before you buy i don't like that flavor but it's free so i will continue
to chew one of the things about trader joe's that customers always love is the ability to try
out different products they can sip coffee while browsing the store and can try almost any other
product simply by asking an employee for a sample trader joe's specializes in cuisine from around
the world and allowing customers to try new things leads to them buying new grocery items
they may have passed by all together otherwise even something as seemingly small as spices
are given special attention one employee is in charge of the spice aisle in each location these
employees are masters of their domain in charge of knowing spices from around the world for customers
this means specialized recommendations are at their fingertips with each visit to trader joe's
the right combination of spices can make or break a meal when a customer receives that level of
individual service coupled with the idea that they can sample items before taking them off the shelf
trader joe's has found a niche in which they have been successful and likely will remain successful
for years to come slow but steady growth slow and steady wins the race trader joe's likely
could have expanded much more rapidly than it has and could be in far more locations however
rather than expand at will trader joe's decided to take a step back to this brand
the most important thing the thing that makes the business successful is who it decides to employ
employing the right people in the right jobs is critical for the success of trader joe's that's
the key without the ability to ensure the right people are available to hire at a new location
expanding there would do little to help the brand think about a brand such as starbucks
these coffee shops pop up all over the country and many of them are gone as quickly as they spring up
trader joe's did not want to fall into that trap expanding slowly moving from southern california
to northern california and then eventually to the east coast allowed them to control
their expansion and ensure each location would offer the same great experience to each shopper
in the target demographic a fun and welcoming atmosphere first time for you first time yes who
said going to a grocery store has to be boring and feel almost institutional not me obviously
in each store there is a plastic animal such as a lobster hidden within somewhere kids of all ages
enjoy the treasure hunt looking for this special item all while completing a normally mundane and
boring errand grocery shopping kids who find the toy animal are offered a treat each trader joe's
is unique with features meant to highlight the city in which it is located while all will be
easy to recognize as a trader joe's shoppers will also be delighted by the special touches in each
and every store location paintings and wall murals will reflect the local area bringing a more homey
feel than customers get in a bigger store each location also employs a local artist to hand
draw price tags and other information signage throughout the store a nautical theme also strings
through all trader joe's locations it comes as no surprise that a nautical theme was adopted by
the chain considering joe colombe was influenced by among other things the jungle cruise ride at
disneyland why not combine the fun of an amusement park ride with grocery shopping makes sense to us
an unconventional attitude get in line because that's their attitude get your own attitude
who doesn't like a little attitude once in a while oh attitude yes right many favorite characters
from television and the movies have a bit of attitude or moxie as it was once called trader
joe's is no different the focus is on the customer by focusing on the customer the bottom line will
take care of itself while this has always been true in business many do not subscribe to the
philosophy the way trader joe's does trader joe's also allows each employee to do what they feel
is best for the customer while other companies would frown on this type of freedom trader joe's
thrives by trusting their employees to always have the best interest of the customer in mind
and to go above and beyond their normal role to ensure everyone feels important and special
during their time at the store the fact remains that no one has ever gotten ahead by following
the crowd it makes sense in all avenues of life and trader joe's understands that it makes sense
in the grocery business as well they cater to their target market and focus on those
individuals keeping the big brands at bay in favor of having better control of each product
by using house brands trader joe's also treats its employees in such a way that the company
is perennially seen as one of the best places to work in the country all of those things are
a bit unconventional but they make trader joe's stand out and be successful able to adapt and be
fluid another rule of business is being able to adapt to different situations trader joe's founder
joe colombe found himself in a competitive market with drug stores convenience stores and the like
where he felt he could not compete rather than flounder and eventually fail he moved on for
instance when the now huge 7-eleven chain came into california rather than attempt to compete
head-to-head coulomb made the move to change his pronto convenience stores into what we know
today as trader joe's until 1976 the california government controlled the price of liquor by
statute effectively hamstringing the free market but with 100 brands of scotch and a wine selection
to rival the biggest out there trader joe's could afford to drop the prices on their food products
bringing more people in smart and s'more as long as those people purchased a bottle of wine to go
with dinner for instance all was right with the trader joe world once these laws were lifted
the business climate obviously favored the big box stores and larger supermarkets who could afford
smaller margins on their alcohol sales this was likely the impetus behind coulomb's decision to
sell their liquor brands to a larger retailer aldi nord not aldi sud which we know here today
this deal allowed trader joe's to compete with other larger chains and continue to be successful
to some this may have seemed like admitting defeat but in reality having the ability to be fluid kept
the company alive and well keeping overhead low i can shave all of us save money when you look
at the footprint of a trader joe's compared to some of the big box grocery stores it's easy to
see one of the ways they keep the prices low overhead is a killer for many businesses and
that does not change with the volume of business and if you can keep those costs down it is much
easier to keep prices low for your customers that is one of the main thoughts at trader joe's with a
10 000 to 15 000 square foot building trader joe's is a fraction of the size of many other stores
think walmart their parking lots too are small less space less upkeep less space
lower property taxes all of those savings can be passed on to the customer and they
are sounds good to me this makes trader joe's a favorite for certain segments of the population
of course stories abound of trader joe's parking lots one of the favorites has been if you haven't
had a near-death experience in the parking lot have you ever really been to trader joe's a
tongue-in-cheek joke to be sure but the reputation of the size limitations of the parking lots and
the buildings themselves precedes the store's lore variety is not necessarily the spice of life
we see big box stores with 34 varieties of pasta or 82 kinds of breakfast cereal
that is not the trader joe way though again keeping prices down for those new college
graduates their target market means thinking about what is important to them two bucks a piece
good deal good quality food that is healthy and fun to eat is what's important it's not the name
of the brand that brings people to trader joe's it's getting a good price for high quality table
fare rather it will most likely be a trader joe's product by controlling the entire supply chain
they can assure customers will get high quality products they can also provide
customers with different foods from different cultures at trader joe's there's plenty to explore
all of this is done with an eye on cost savings this would be impossible if they sourced all
of their products from other companies that would also make for a larger distribution chain
again this comes at a higher cost and that is not something trader joe's looks to pass down
to its customers the trader joe's brand found on all store shelves have better margins meaning they
cost less to produce and are sold cheaper than it may cost to purchase something similar from a
brand name company then again to loyal customers of this brand trader joe's is also a name brand
right but customers also find fun in the way trader joe's markets their proprietary grocery
goods that come from different cultures trader jose is the brand name for foods with a mexican
or latin american flair trader jox denotes a french food trader ningx is a chinese product and
trader joson lets the buyer know that the item is of japanese origin all of these fun twists on the
brand name add yet another level of enjoyment to the shopping experience at trader joe's while the
store is not for everyone it does have somewhat of a cult following and those who fit the mold
enjoy all of the little quirks a great place to work it is the best employees at trader joe's are
called captains and first mates this is in keeping with the nautical theme that some feel has been
fading a bit in recent years however it still shines through in the employee names and also
in other ways such as the hawaiian shirts worn by all of the staff there's even a ship's bell which
employees use to communicate once a decoration it is now a staple of all trader joe's locations
trader joe's has never laid anyone off at least as of last year and it would be difficult to believe
they would start now employee wages and benefit packages are above average for the industry as
well even professionals retired from the industry have been heard wishing for their days as a trader
joe's employee back when life was simple and the job was always fresh and fun wow that good huh by
keeping employees happy this creates low turnover lower turnover rates mean fewer expenses related
to the training of new employees believe it or not this can be one of the biggest expenses for many
businesses especially for those employing workers who are just breaking into the job market keeping
those people on and keeping them happy has been another reason trader joe's has kept costs low
more important than that though is the interaction between employees and customers most anyone who
frequents a trader joe's can tell others about the great experiences they've had at the store
happy employees make for a fun atmosphere where customers feel welcome and important they've even
dodged turnover in ceos with only three in the history of the company with employees stocking
shelves during business hours rather than in the early mornings or late at night it increases
the chances employees and customers will find themselves in close quarters giving employees
the chance to engage shoppers each employee has been chosen for their outgoing personality
so this is a great opportunity to heighten customer satisfaction this too helps trader
joe's be successful good for them check out more great videos just tap or click hit that
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