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1958 – Started as Pronto Markets
1967 – First Trader Joe’s opens in Pasedena
1969 – First Hawaiian shirt was worn
1972 – first private lable product - granola
1991 - Trader Joe’s mission statement was written in chalk
1996 – Website goes live
2007 – Makes commitment to eliminate trans fats from all private labels
“Neighborhood Grocery Store”
Dee Chrizel Taracatac
Luis De La Cruz
They DON’T accept coupons, loyalty cards, or offer weekly sales.
367 stores across the nation
open for 46 years
Store Crew – a little of everything
Office Crew – offices in Monrovia, CA and Boston, MA
Merchandising, Marketing, Operations, Human Resources, Information Technology and Finance
Captain (store manager)
Mate (first level of store management
Take retail managers and put them in a 12 month program.
Management Training Program
Starting salary of $47,000 + benefits
New Hires get company car
Trader Joe’s follows the Philosophy of happy employees make for happy customers
Employee is #1
-Everyone helps out
Allow employees the freedom to be themselves
Leadership Development program
-Allow people to make their own decisions
Average of $10-$14 per hour crew members
1st year management in training recies compensation of $47,429.
Medical, dental, vision
Paid time off plan
10% discount on everything in the store
WAGES AND BENEFITS
Crew Member (Current Employee), Peabody, MA – November 2, 2013
Job is always interesting, working in every capacity of the operation. Great ideals and customer service. Lots of fun interacting and helping customers.
Team Member (Former Employee), Kansas City, MO – May 7, 2013
Pros: benefits and great pay
One of the best places to work. You actually enjoy coming to work because theres so much energy from your team members.
“Our product guarantee: We tried it! We liked it! If you don’t bring it back for a full refund, no questions asked.”
Values customer satisfaction
Mails newsletter only three times a year
No “pinging” and fast checkouts
UNOFFICIAL TRADER JOE's VIDEO
WHAT ARE CUSTOMERS SAYING ABOUT TJ'S?
Cuts out the middleman
Who are they? (under wraps)
Standard Vendor Agreement (Clock of Secrecy)
Suppliers Dream Account
Successful private-level brands
Trader Joe’s is a privately owned company
Theo Albrecht is Trader Joe’s original investor
-Germanys third richest man
-Bought the company in 1979 building it into a chain of $8 billion in revenues with over 350 stores
Why Invest if we Could?
Successful for its “low-cost business model
Limited assortment of goods = low expenses
Minimal level of advertising = low expenses
Jim Sinegal: CEO of Costco
Valuable brand virtually without huge expenses
Has positive associations
Cult like customers (very loyal)
More Reasons to Invest
Very efficient business strategy
Brick and mortar footprint, 75% smaller
Simple and cost saving store brand product packaging and store design
Limit vanity of each type of product
Grown 40 stores per year from 2008-2011
395 stores as of January 2013
- Trader Joe’s leaves donations in the hands of individual stores
- But they have very specific guidelines for evaluating donation requests
- No organization can receive more than one corporate donation a year
- The only kind of organizations they donate to are medical and educational causes, as well as the arts
- They do not sponsor events or buy any kind of advertising
- Trader Joe’s stopped using genetically engineered ingredients
- Many people thought they did this to avoid what could have been a very image-damaging argument over the company’s morality
- This was really to prove that they wanted to satisfy the 90-95% of the Trader Joe’s supporting society that asked them to stop essentially supporting these genetically engineered ingredients
Taking a Stand
- In 2003 Trader Joe’s Received the Proggy Award from the People for the Ethical Treatment of Animals (PETA)
- They were also given thanks from the Rainforest Action Network (RAN) for its decision to stop buying bags from Weyerhaeuser, which was found to be the “number one destroyer of old-growth forests in North America”
- Once again, Trader Joe’s claimed they took this action for their supporters and customers as well as to obey its own principles
- They devote an entire wall in the store to put up brochures and pamphlets on Fair Trade coffee, and everything you would want to know about specialty goods
- they recognize society’s specific health needs and therefore put up additional flyers that focus on the fats, calories, fiber content, etc
- they have blackboard style signs that discuss various food issues
ex: how long unopened canned product can be stored before spoiling
- Special because they are not interested in comparing with what other companies, industries, or other supermarkets are doing to better themselves and their sales.
- they are not about promoting itself as a destination, but their objective is to just always do the right thing
- Trader Joes Goals:
1. gain community support of the store
2. boost their employee loyalty
3. being a preferred employer
4. developing a trust with its customers
The mission of Trader Joe's is to give our customers the best food and beverage values that they can find anywhere and to provide them with the information required to make informed buying decisions. We provide these with a dedication to the highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual parts, and company spirit.
No trans fat, no gmo!
No middle man
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- Trader Joe’s: Investment Lessons from a Company You’d Love to Invest in, But Can’t. September 6, 2012. Seekingalpha.com/instablog
- Trader Joe’s. It’s Run by This Ultra Secretive German Family. August 1, 2011. Aimee Groth. www.businessinsider.com/trader-joes-management
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