If you never listen, the podcast “acquired” is fucking awesome.
The most recent episode is about trader Joe’s.
Is there some interesting facts on the episode:
they don’t have sales or variable pricing.
every product in the store is reachable by someone who is 5 feet tall
trader Joe primary market is composed mostly of young professionals and retirees. In other words, people shopping by themselves. For this reason Trader Joe’s focuses on hiring extroverts that are more inclined to chat with customers.
They turn over their entire inventory 60x per year. I.e.- they turnover every item in their store more than once a week.
Employees only stock shelves during operating hours.
They pay for all products on delivery instead of net 30. This is HUGE for
They don’t advertise.
this is a big one: they don’t collect data on their customers.
https://open.spotify.com/episode/6MZDRSrYZN0mzBuTtWXscY?si=NMznxZZBTDynxcjOyxnvIg
