The most notable strategy secret of Trader Joe's is the brand's willingness to leave money on the table. Its competitors offer online shopping and generate a significant amount of revenue from it, but Trader Joe's chooses not to. This is an intentional choice to prioritize long-term competitive advantage over a commercial opportunity. The brand's core strategic angle comes from its in-store experience, specifically the sense of surprise generated by its rotating selection of quirky products. This has led the brand to be the top grocery store in the U.S. in terms of revenue per square foot.
Friday, April 19, 2024