Joe Colom, Albrecht, Seward Alaska Seward discussed on Heartland Newsfeed Radio Network
For sports teams or your favorite band. Kind of grocery. Store has a following like that and then when i learned that trader joe's out sells all other grocery stores per square foot. I really started paying attention. Then one opened up near my office here in new york started shopping there and for the most part loving. I realize it's not for everyone in fact predator strategy is trying not to be for everyone but i did want to know the secrets to their success reached out to the trader joe's headquarters in monrovia california and we're politely lately told to get lost as we mentioned earlier. The company is known for its secrecy the two brothers who founded all north and south in germany. You know we'll have a record of that michael roberto again that was kind of the family heritage of early being pretty secretive about their business operations really they weren't even you couldn't even find photos of them like on the internet or net for years. You know i mean they were very secretive. It's a strange combination affirmed prides itself on user-friendliness while also keeping its distance which means is that a lot of what's known about comes from industry analysts and other secondary sources blitz start here in the very beginning. There really was a joe. Oh behind trader joe's joe colom. He opened the first store in nineteen sixty seven in pasadena california. He went with a south seas theme beach kaz hawaiian shirts calling employees captains and crew members in one thousand nine hundred eighty nine colom sold the chain to one of the secretive albrecht bricked brothers feel feel albrecht was recluse. Perhaps it was said because he had once been kidnapped and held for ransom for seventeen days as in germany albrecht died in two thousand ten betray joe's remains notoriously press shy. It's also a privately held company so so no earnings calls with investment analysts no public proclamations of any sort really about how it does business and so to figure out how it works. We'll rely on a few people who've spent a lot of time thinking about trader joe's including the business school professor michael roberto whom you've already met correct it also the columbia business school professor's sheena anger whose research specialty is particularly relevant here. I've been studying choice. Why do we want want choice. What are the things that affect how in what we choose and what are some things we can do to improve our choice making abilities. We'll also talk to a trader joe's superfan. My name is kirk serbia. I reside in seward alaska seward by the way does not have a trader joe's nor does the state of alaska esca the closest store from disarming his house is two thousand two hundred ninety five miles away by car in bellingham washington to serbia is the guy who we heard earlier earlier. Say this the first thing i do when i know i'm going somewhere is get on the internet and find were the closest trader joe's is and we'll hear from a spy in the house of if trader joe's a former advertising executive named mark gardener who became obsessed with the chain and i had this thought like you know what if i just went and work there..