He opened stores designed with fish nets and boat oars on the walls. Employees were dressed in bright tropical shirts and the stores where packed with food items which are preferred by the customers during vacations. The enterprise also partnered with dealers worldwide to make the foods available at popular holiday destinations at their stores. The founder believed that if the people can spend huge amount of their money to experience great tastes available at those holiday destinations, people would definitely spend on those goods if they are available in store near their homes.
The unique value proposition of the company includes availability of unique food items with new tastes, minimum price charged for products, high bargaining with suppliers. The organization researched about the products that the Americans prefer the most on their vacations. It also believes that the money saved by the organization while procuring goods from suppliers is the money saved by the customers. Thus, the company creates value by supplying goods at minimum prices. The enterprise also acquires goods directly from the suppliers to reduce their costs. Trader Joe’s also utilizes the loop holes of government regulations on wines. Since private label wines were not covered under the laws, the company persuaded them to sell their production under the label of Trader Joe’s. As the price of these labels were low than popular brands, they were preferred by the customers (“Understanding Trader Joe’s”).
The key metrics are the measures which assess the performance of the company. Traders Joe’s growth in sales and the increase in the number of stores are the metrics used to understand the success of the enterprise. It has been observed that the sales growth of the company has increased over the years but in the recent times, there is a high competition in the retail sector and this may lead to