Trade Trader Joe's Essay
Trader Joe’s is a grocery store chain founded by Joe Coulombe in 1967. It is now privately owned by a trust founded by a German grocery chain. There are currently over 400 Trader Joe’s locations in the United States, plus 38 new stores in the works. The company is headquartered in Monrovia, California. The primary goods are groceries: produce, breads, meats, dairy, frozen foods, non-alcoholic beverages, wine, and more. The services provided include employees giving out free samples, assisting customers with questions, and ringing customers up at the end of the trip. Coulombe founded Trader Joe’s with the idea that it serves the “overeducated and underpaid” people. The primary target market is comprised of Generation Y, with target consumers ranging in ages from 20-35 years old. These individuals are typically well-educated, ecologically conscious people who tend to be particular about their consumer preferences. They seek a healthy lifestyle, support local production of food, and are willing to invest in grocery stores that cater to their specific wans or needs in regards to their choices of consumption, whether it be organic, vegan, vegetarian, gluten free, fat free, or kosher. …show more content…
Approximately 80% of their products are private label because they are bought directly from food producers. Instead of offering multiple brands for each product, Trader Joe’s typically offers one house brand or untraditional local brand. Thirdly, full-time employees make $48,000 per year, and store managers make six figures annually. The main competitors are Whole Foods and Sprouts, followed by all traditional grocery stores. Trader Joe’s has the advantage of everyday low pricing (which is achievable by their private labels) which Whole Foods, Sprouts, and other specialty grocery stores struggle to
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