THE TRADER JOE’S INNER SECRET

Did you know that the brand name Trader Joe’s was named after its original owner, Joe? It’s interesting to note that there is a reason behind why he chose to use his name. Let’s find out more about it soon.

Also, more than they want to admit, people have often wondered what made Trader Joe’s America’s favorite. Because let’s face it, the convenience store is way smaller when compared to the likes of Walmart but it has continued to take in more customers and rake in more money.

Is there a secret that only the owner and select few know? Join me and find out!

THE TRADER JOE'S INNER SECRET WITH STORE  IMAGE

THE BRANDS HISTORY

Trader Joe’s as you now know was started by a man called Joe Coulombe. But was it ever his dream to pioneer one of America’s most favorite chain grocery stores? Not at all. His story was an interesting one. You are not gonna believe it. 

Joe is a pretty impressive guy – he graduated from Stanford University, which is like one of the coolest schools ever. He studied economics and even got a Masters degree in business administration. You might be wondering how he ended up at Trader Joe’s, but trust me, the best part of his story is still to come.

When he completed his schooling, he was fortunate enough to secure a job at a company called Rexall. Rexall was a popular chain of drugstores located in southern California that paid well and had a great work environment. However, as time passed, the company began to explore the possibility of expanding its business and opening a chain of local convenience stores, given its exceptional performance as a drug store.

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The company has the resources and they felt their customers wouldn’t mind patronizing their new stores but they had a problem. They needed someone to monitor the new business. And that was where Joe Coulombe came in. Remember he had a degree in economics and another degree in business administration. Yeah, that made him the most suited person for the job. 

Pronto was the name of their first convenience shop, which opened its doors in 1958. Within four years, they were able to build four businesses in various places because to Joe’s financial expertise. The company was expanding when, in 1962, Rexall abruptly announced they were looking to sell the company since they were no longer interested in it. 

Joe recognized an opportunity and used his funds along with some funding assistance from Pronto’s staff to purchase it. Using his business sense, he went on to run and expand the chain store. Joe was able to open eighteen new locations over the following five years as a result of the local convenience store chain’s success. 

Pronto was expanding, business was good, and customers were happy but just as Joe was about to relax and start enjoying his hard work, a new type of challenge arose in the form of a huge competition. 

Another network of convenience stores, 7-Eleven, was far superior and larger than Pronto. Thousands of birds could have flown in the skies, so that would not have been an issue, but 7-Eleven was determined to destroy all rivals in its way, and Pronto was no different. It began placing its branches in every area that contains Pronto.

Joe perceived this as a serious danger that, if left unchecked, would completely destroy Pronto. What then did he do? The nation’s favorite grocery shop was created when he rebranded Pronto as Trader Joe’s. 

He figured competing with 7-Eleven was pointless and decided to change its strategy. At the time no convenience store could sell liquor at a lower price because of the reigning policy. So this meant there was no way Trader Joe’s could attract more customers than its big competitors. However, there was a loophole, the government did not bother to regulate food prices, and anyone could sell at any price that worked for them. 

As an economist, Joe was aware that demand for a good or service increases with its price. So he decided to cut the price of food products rather than constantly fighting for clients. His staff would gently steer visitors into the food department, which had exceptionally cheap prices in comparison to other stores, when they arrived for booze, which he made sure to stock in a variety of varieties.
Word soon got around about Trader Joe’s, a cheap grocery store where you could get a variety of healthful snacks and meals. As a result, business took off and Joe was once again grinning at the bank.

In 1976, almost a decade later, the Law that favored Joe was lifted and liquor prices were no longer regulated. This spelled doom for Joe and in no time he sold Trader Joe’s to a bigger retailer in 1979. 

The buyer was Theo Albrecht who also owned Aldi Nord. However, Joe was allowed to stay in the business as the CEO until 1989 when he retired. 

WHAT MADE THIS BRAND UNIQUE/SUCCESSFUL

The typical American will probably tell you that Trader Joe’s success can be attributed to its reasonably priced merchandise, happy staff, and all-around fantastic shopping experience. They are, in actuality, not too far from the reality. But since we’re here, let’s expand on our conversation. 

Trader Joe’s exceptional product range is among the first factors that set it apart from the competition. You can always discover exceptional, novel, and one-of-a-kind things at every Trader Joe’s location that aren’t as readily available at other retailers. There’s an easy explanation for this. While other grocery shops offer the same products and use the same suppliers, Trader Joe’s uses a private label that guarantees quality control and permits exclusive collaborations with suppliers. This tactic also guarantees that they are aware of the ingredients in each of their goods.

Another thing that sets Trader Joe’s apart is its value pricing. Naturally, one would think their exotic products would cost a lot of money. On the contrary,  their products are sold at really affordable prices. This means you do not have to break the bank to have access to top-tier healthy food. 

The customer’s experience is also another thing that endears customers to Trader Joe’s. Anyone who has shopped at Trader Joe’s before can attest to the beautiful ambiance and relaxed environment. The employees are always happy and ready to help at any point in time. 

TRADER JOE’S IMPACT ON CULTURE

Trader Joe’s has unquestionably had a significant influence on chain shops in a number of ways. For example, Trader Joe’s is ingrained in the culinary culture. Trader Joe’s goes above and above to provide its consumers a variety of world cuisines that are distinct in flavor and taste, whereas other stores concentrate on providing their patrons with the same kinds of food options.

Over time, Trader Joe’s has also made healthy eating better. One of the main reasons for obesity in the US is convenience food. Trader Joe’s may be a convenience store chain, but when it comes to junk food, it begs to disagree. Trader Joe’s has prioritized healthful food and organic products that support American development ever since its founding.

Another culture that Trader Joe’s has popularized is its culinary trend. The brand is setting the pace when it comes to food innovations and trends. It also makes sure that its customers look out for seasonal offerings that are created from plant-based ingredients. 

As if the above-mentioned cultures are not enough, Trader Joe’s indulges in regular community engagement by ways of charity, food-tasting events, and philanthropy.  Also, Trader Joe’s often sends food that is not sold after a certain period to food banks so that people who can not afford to enter their stores can still have access to their food. 

PLANS TO ADAPT FOR THE FUTURE

Trader Joe’s has been around and serving its customers for more than five decades. Surely, the brand has plans to keep doing what it knows how to do best  but how does it intend to stay relevant in the future?

Trader Joe’s intends to stick to its core value, after all, it is what has brought it this far. However, the brand has made plans to keep improving in some well-known areas while also intending to incorporate new ideas. 

For one, Trader Joe’s is keen on expansion and growth. The brand wants to continue growing in both old locations and new territories. This way, it can continue to serve former customers while also reaching more prospects.

Also, Trader Joe’s intends to do well in the aspect of digitization. All through its existence, the brand has focused more on physical locations. And now that the world has gone global, Trader Joe’s plans to invest in online stores. This will enable the brand to reach more people faster.

Finally, no matter how digitalized or expanded it gets, Trader Joe’s has no plan to cut back on its community engagement. It aims to keep supporting the community in every way it can without reneging on its promise of a quality product.

Conclusion 

So now, over to you. What do you like the most about Trader Joe’s? Is it the food quality, relaxed environment, or friendly attendants? 

Write your shopping experience at Trader Joe’s in the comment section below. 

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