International Retailers Hey, Joe!
Trader Joes, despite trading from only 350-odd locations is one of the best-loved retail brands in the US, inspiring fierce loyalty among its faithful, who love it for its quirky take on snackage and ready-to-eat meals, for its aloha-shirted staff, its everyday low prices and its unpretentious take on wellness and sustainability. What they don’t know is that the business is owned by the Albrecht family of Aldi Nord, and runs a very tight ship indeed, with just 3,000 SKUs, a super-streamlined distribution operation and more sales per square foot than any other super in the States: they sell $2,000 of groceries per square foot, compared with Whole Foods’ $1,200 and Walmart’s $600. What they don’t have is home delivery, self-checkouts, or any kind of loyalty programme at all – which these days are pretty much considered the cost of doing business. For more, have a look or indeed a listen, here.
Comment: A fascinating if secretive business, and one that an enterprising local retail group might do well to emulate.