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2500 S. Power Rd, Ste 117 Mesa, AZ 85209 i nside this issu e An Impossible Mission Becomes Possible PAGE 1 Protect Yourself From Phishing Scams PAGE 2 Meet Justin Henninger PAGE 2 Why Hackers Target Small Businesses PAGE 3 Are Simple Microwaves Becoming Obsolete? PAGE 3 AZCOMP Leadership Library: Thinking in Bets PAGE 3 The Trader Joe’s Difference PAGE 4
NOT YOUR AVERAGE GROCERY STORY WHY TRADER JOE’S TAKES PRIDE IN BEING DIFFERENT
It seems like a retail chain announces that it’s filing for bankruptcy every day. Toys R Us, Payless ShoeSource, Gymboree, and Vitamin World all filed for bankruptcy protection in 2017. In this hyper- competitive climate, many grocery stores have been closing locations and skimping on growth. Trader Joe’s, however, is the exception. Their continued success is a testament to the power of differentiation. Most grocery stores are pretty much the same. They sell the same products, have similar layouts, and the list goes on. Trader Joe’s has no interest in competing on this plane. Instead, they’ve created their own niche and built a loyal fan base in the process. How have they done it? With a few revolutionary ideas. Instead of attempting to be a mega-store, they actually limit the number of products they sell. On average, they offer one-tenth the number of items as the average grocery store. But every product sells. If it doesn’t, they put something else in its place. They also eschew
big-name brands in favor of their own branding. It’s a strategy that builds brand loyalty and lowers costs.
Another draw for Trader Joe’s customers is the feel of the store. Their branding is tongue-in-cheek, their packaging is playful, and their stores are fun to sahop in. The enticing smell of samples wafts throughout the aisles. In every aspect, it’s opposite of an anonymous, fluorescent mega-mart. The way the company treats its employees is also a breath of fresh air. Good compensation, benefits, and education result in a staff that’s as evangelical as the company’s fans. Ask for the location of a specific item, and an employee will walk you right to it. They’ll probably also tell you about how much they love the item you’re looking for. Try finding that enthusiasm at another store.
Trader Joe’s has never been one to follow trends. By creating their own, they’ve achieved a popularity that’s the envy of the industry.
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