Business | Entrepreneurship
The Secrets to Trader Joe’s $13 Billion Revenue
The origins of a cult.
I always marvel at the line of cars waiting to get into the parking lot.
Cars are honking behind us. People are zombie-running for the doors. There’s often a line outside due to max capacity.
It looks like a destruction derby is about to unfold.
I’ll look around and think, “Are these people crazy? It’s just a f##ing grocery store?”
I’m wrong.
Trader Joe’s has created a cult.
Their growing army of acolytes cranks out $13 billion of revenue — and right from the hands of national grocery brands.
In a cutthroat industry that’s losing margins to Amazon and other grocers, Trader Joe’s continues to grow.
It took no small feat of brilliance. Every aspiring entrepreneur should know their tricks.
They create false scarcity
The last time I went, I noticed a trend with all of their products.
Unlike Walmart, or other big brands, which have 50 versions of each product, and a dozen brands of milk — Trader Joe’s had just a handful — but they weren’t half-baked, boring generic…
