“The genius of Trader Joe’s is staying a step ahead of Americans’ increasingly adventurous palates with interesting new items that shoppers will collectively buy in big volumes.”
I have always been a huge fan of Trader Joe’s and have visited their stores on both coasts many, many times. As most retailers are struggling with sales, profitability, competition from restaurants and QSR’s, Trader Joe’s just keeps chugging along and racking up year over year sales comps.
Last year the privately held retailer sales were roughly $8 billion! That is the same as Whole Foods with their massive stores and SKU’s (the average Trader Joe’s merchandises about 4,000 vs 55,000 for a typical big box grocery retailer).
One little side note…at an estimated $1,750 sales per square foot, Trader Joe’s trumps Whole Foods sales numbers by more than double. Not bad for a company that most folks in Middle America have never heard of.
Trader Joe’s doesn’t pick up on trends – It Sets Them!
The concept so reminds me of our original thought process behind eatZi’s way back when…small SKU count, best in market offerings, and relentless pursuit of foodie nirvana!
Read the full article here – Trader Joes