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Trader Joes 5cs

In: Business and Management

Submitted By s1sley
Words 402
Pages 2
Trader Joe’s
* Founded in 1958 (as Pronto Markets)
* Privately held company
* Albrecht family
* CEO: Dan Bane
* Owner: Theo Albrecht
* Specialty grocery store
* 418 stores in over 31 states as of May 2014
* 80% private labels
* Revenue: US$12 billion (FY 2014); (Estimate)
* Employees: 10,000 +
* Website: www.traderjoes.com

5CS

CUSTOMERS
“For the middle income educated consumer who likes variety of foods from around the world, Trader Joe’s offers the best quality gourmet cuisines at a low, affordable price”

“Category leaders”
* Middle income
* Devoted fans
* Educated
* Cultured
* Enviromental awareness
* Health conscious
* Young professionals
* Wine Enthusiasts

CONTEXT
* Growing health consciousness
* Growing population of educated consumers
* Environmental awareness movements/ regulations
* Sociocultural: people want to be healthy and look healthy

COMPANY
BUSINESS MODEL
“While a typical grocery store may carry 50,000 items, Trader Joe's stocks about 4,000 items, 80% of which bear one of its own brand names” (wiki)

Ethics
*Great Food + Great Price = Value
*Environmentally friendly, free from artificial flavours and harsh chemicals “All of our private-label products are free from hydrogenated oils, artificial flavors, preservatives, synthetic colors and GMOs”

Promotion
* Does not offer any sort of discount coupons/ promotions
* Provide online recipes and create a online community where customers to participate and share recipes

Goodwill
"Because of their [lower prices], a portion of the population that is struggling financially will be able to find healthier options for their pantry"

Sourcing/Distribution Systems
* Source directly from manufacturers
* Trader Joe's does not provide Country of Origin disclosures on most of its private label brands, citing reasons of food source and supplier secrecy
* No...

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