A Brief History:
Taken from http://www.traderjoes.com/about/our-story.asp
It all started in the 50s... Would you believe we started out as a small chain of convenience stores? It's true. Way back in 1958. We were called Pronto Markets. In '67, our founder, the original Trader Joe, changed our name (yes, to Trader Joe's) and the way we do business.
We made the stores bigger (if you can imagine), decked the walls with cedar planks and donned our crew in cool Hawaiian shirts. Most importantly, we started putting innovative, hard-to-find, great-tasting foods in the "Trader Joe's" name. That cut our costs and saved you money. Still does. And that's important, because "Value" is a concept we take very seriously. And by value we mean great everyday prices on all of our great products — no sales, no gimmicks, no clubs to join, no special cards to swipe... How do we do it?
We buy direct from suppliers whenever possible, we bargain hard to get the best price, and then pass the savings on to you.If an item doesn't pull its weight in our stores, it goes away to gangway for something else. We buy in volume and contract early to get the best prices. Most grocers charge their suppliers fees for putting an item on the shelf. This results in higher prices... so we don't do it. We keep our costs low — because every penny we save is a penny you save.
It's not complicated. We just focus on what matters — great food + great prices = Value. Okay, we skipped over a few milestones, but you can catch them in the Trader Joe's Timeline. It's a trip.
Mission Statement:
Taken from http://manonamission.blogspot.com/2006/03/trader-joes-mission-statement.html
At Trader Joe's, our mission is to bring our customers the best food and beverage values and the information to make informed buying decisions. There are more than 2000 unique grocery items in our label, all at honest everyday low prices. We work hard at buying things right: Our buyers travel the world searching for new items and we work with a variety of suppliers who make interesting products for us, many of them exclusive to Trader Joe’s. All our private label products have their own "angle," i.e., vegetarian, Kosher, organic or just plain decadent, and all have minimally processed ingredients.
Company Values:
Taken from http://www.traderjoes.com/about/our-story.asp
"...because "Value" is a concept we take very seriously. And by value we mean great everyday prices on all of our great products..."
Competitive Advantage:
-Fun and relaxing, hassle free environment.
-Interesting and alternative product selection ranging from organic foods to imported cuisine.
-Trader Joe's brand foods which offers cheap, quality alternatives for everyday items.
Target Audience:
Taken from http://answers.google.com/answers/threadview?id=353529
Scarborough Data, a market research firm, profiles the typical Trader Joe's shopper as a college-educated, white homeowner with a median age of 44 and a median household income of $64,000. Almost evenly divided among married people and singles, females and males, two-thirds have no kids at home.
According to Pat St. John, Trader Joe's vice president for marketing, the company's target customer is a cost-conscious, health-conscious label-reader who is not tied to national brand names. Company surveys have found that many of them are well-traveled and looking to replicate foods they have enjoyed elsewhere.
Anecdotal information gleaned informally from Trader Joe's shoppers reveals several sometimes overlapping types: There's the frugal foodie looking for the next new thing; the iconoclast who resents "customer loyalty cards" and dislikes big-box retailers; the health-conscious, ecologically sensitive parent seeking organic and pesticide-free foods, environmentally friendly cleaning supplies and wholesome snacks; child-free working couples and singles who favor the convenience foods packaged just right for one or two; and a whole lot of people who like to indulge in luxuries like flowers, candy, cheese, wine and Greek yogurt without signing over their paycheck?
Competitors:
Other organic medium sized grocery stores such as Sprouts and Fresh & Easy.
Industry Trends:
Trader Joe's and Trader Joe's brand products need to keep up with current health food trends in order to stay competitive and maintain their competitive edge. After all that's all part of the Trader Joe's marketing scheme, to bring consumers interesting and healthy food alternatives to meet their everyday needs. Other industry trends include the "Organic Food Movement" and the "Fair Trade Movement."
