Thursday, August 26, 2010

Lessons from Trader Joe's continued . . .

For me, it was love at first sight - that first time that I walked into a Trader Joe's store. I truly couldn't understand the gentleman that attended one of my presentations and took offense at my suggestion that there were lessons to be learned for our industry from this charming little food emporium. My main point was that the proliferation of product choices was overwhelming the consumer and that all retailers had to become "choice editors" for their customers in the future.

Not much is know about the inside working of what has become a food giant, but the current issue of
Fortune tells the story of their success as best as they can determine from sources other than the company itself. The big reveal is that Stonyfield makes their yogurt, but you have probably already figured that out if you have purchased both products. They sell double the number of dollars per square foot as Whole Foods, their nearest in-kind competitor - so who wouldn't want to take tips from Trader Joe's?

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