Although many companies have accepted the unusually high turnover rate in the sector as a necessary evil, others are attempting to do something about it.
Alvin Melathe Listen now: The typical supermarket stocks roughly 35, items. Are they proof that less is more? Listen and subscribe to our podcast at Apple PodcastsStitcheror elsewhere.
Below is a transcript of the episode, edited for readability. For more information on the people and ideas in the episode, see the links at the bottom of this post. You might be Mark Cuban or Mr.
And that is Michael Roberto. Would you invest in my company?
That sounds like the stupidest company ever. And, of course, you get a lot of consternation. The sales-per-square-footage estimates are unbelievable.
I mean, three and four times better than some of the leading players in the industry. So it sounds like customers love this place. But you might think a store like this would be brutal to work for. A tremendous selection and variety.
The grocery business is famous for low profit margins, lots of competition — and, lately, an even bigger problem: So how do they do it? I think that some of the secrecy is probably due to who owns them. Which, it turns out, are incredibly Freakonomical: Things like nudging and an embrace of experimentation.
Aldi is a super-cheap, super generic grocery store: The article said the Aldi chain had two branches back in Germany, separately owned by two wealthy brothers named Albrecht.
But there it was. It was the sort of loony devotion usually reserved for sports teams or your favorite band. What kind of grocery store has a following like that? I started shopping there — and, for the most part, loving it. But I did want to know the secrets to their success.
As we mentioned earlier, the company is known for its secrecy. That was kind of the family heritage, of really being pretty secretive about their business operations.
They were very secretive. He opened the first store inin Pasadena, Calif.Trader Joe’s ranked second for customer satisfaction with an 85, followed by Aldi and Wegmans, which tied for third among grocers at The study points out that the score for Whole Foods is unchanged at 81, so it’s too early to tell at this point if the supermarket’s acquisition by Amazon in .
Jun 23, · The result is one of the fastest grocery store lines in the city.
An admittedly unscientific survey by this reporter found that at peak shopping times — Sunday, from 4 p.m. to 6 p.m. — a line. Feb 08, · Trader Joe’s takes a lot of hits from environmentalists for its over-use of plastic wrap on produce, but the freshness factor is a problem as well.
Melyda Corado was identified as the lone victim as a gunman took 40 to 50 store employees and customers hostage at a Trader Joe’s store in the city's Silver Lake neighborhood.
(Typical grocery stores can carry 50, stock-keeping units, or SKUs; Trader Joe's sells about 4, SKUs, and about 80% of the stock bears the Trader Joe's brand.) The result: Its stores sell an estimated $1, in merchandise per square foot, more than double Whole Foods'.
Monrovia-based Trader Joe’s announced May 1 that they will do a five-part podcast “Inside Trader Joe’s,” which, “literally takes listeners inside the company for the scoop on what makes.