Trader Joe's Problem
Research Problem
Trader Joe’s was established in the 1950’s and began as a convenient store but quickly transitioned into more of a novel design for exploratory food and beverages shoppers. Trader Joe’s is located in various areas within the United States, and San Francisco currently has three locations. There are 4,000 items in stock and 80% of them are brand names. Trader Joe’s offers an array of products that are distinct from those sold in traditional supermarkets. The main focus of the company is the constantly changing product mix, which creates more uniqueness. Trader Joe’s offers value and a commitment of quality service through friendly and devoted employees along with a promise to offer quality products.
A challenge that Trader …show more content…
As a result, we are now able to identify significant factors that will help explain our research question, which is "how Trader Joe's can expand its business to be able to compete with big-name retailers while maintaining their values and uniqueness." First, let us explore the strengths that Trader Joe's has over its competitors. According to the article, a researcher interviewed one customer who responded, " When you think about Trader Joe's, you think about innovative products." In our perspective, we believe it's a very true statement because Trader Joe's has always been known for its funky style, and selective products that you simply cannot find in other grocery stores. It carries private-label products such as Trader Ming's (Chinese) or Trader Jose's (Mexican) that offer a wide array of culture-oriented food, ranging from an Indian curry to gourmet meatballs. Additionally, these products that are perceived as high quality, are marked at very reasonable …show more content…
There are always new, innovative companies emerging, and they are looking for ways to improve and be unique just like Trader Joe's did. Not only are there competitions from new companies, established big-name retailers are also investing heavily on advertising and doing everything they can to be number one in the market. Essentially, there is tremendous pressure from competitors and economy that is forcing Trader Joe's to become a conventional supermarket like them. Thus, it is intriguing to see how Trader Joe's will deal with these challenges and expand beyond our
Trader Joe’s was established in the 1950’s and began as a convenient store but quickly transitioned into more of a novel design for exploratory food and beverages shoppers. Trader Joe’s is located in various areas within the United States, and San Francisco currently has three locations. There are 4,000 items in stock and 80% of them are brand names. Trader Joe’s offers an array of products that are distinct from those sold in traditional supermarkets. The main focus of the company is the constantly changing product mix, which creates more uniqueness. Trader Joe’s offers value and a commitment of quality service through friendly and devoted employees along with a promise to offer quality products.
A challenge that Trader …show more content…
As a result, we are now able to identify significant factors that will help explain our research question, which is "how Trader Joe's can expand its business to be able to compete with big-name retailers while maintaining their values and uniqueness." First, let us explore the strengths that Trader Joe's has over its competitors. According to the article, a researcher interviewed one customer who responded, " When you think about Trader Joe's, you think about innovative products." In our perspective, we believe it's a very true statement because Trader Joe's has always been known for its funky style, and selective products that you simply cannot find in other grocery stores. It carries private-label products such as Trader Ming's (Chinese) or Trader Jose's (Mexican) that offer a wide array of culture-oriented food, ranging from an Indian curry to gourmet meatballs. Additionally, these products that are perceived as high quality, are marked at very reasonable …show more content…
There are always new, innovative companies emerging, and they are looking for ways to improve and be unique just like Trader Joe's did. Not only are there competitions from new companies, established big-name retailers are also investing heavily on advertising and doing everything they can to be number one in the market. Essentially, there is tremendous pressure from competitors and economy that is forcing Trader Joe's to become a conventional supermarket like them. Thus, it is intriguing to see how Trader Joe's will deal with these challenges and expand beyond our