But hopefully, they’re going to listen to this interview and then my percentage will go up. You’re the investors. At Trader Joe’s, customers have come to understand that that’s part of the trade-off. Discover the hidden side of everything with Stephen J. Dubner, co-author of the Freakonomics books. By November 2019, Trader Joe's had over 503 stores nationwide in 42 states and Washington, D.C.. Additionally: Trader Joe’s seems to understand what everyone in sales understands, especially real-estate agents: adjectives are inexpensive and often useful, especially when the actual virtues are limited. So what’s it called? Spreaker is the one-stop shop for podcast hosting, creation, distribution and monetization. Walmart? It’s never been easy to run a grocery chain. And she alternated the choice set: sometimes the booth would feature six different jams and sometimes 24. IYENGAR: I don’t walk into Trader Joe’s with a strong to-do list. His Facebook page got some traction: about 1,200 likes. Here's a quick taste of Inside Trader Joe's, a new 5-part series coming May 1, 2018, from the folks at Trader Joe's. Iyengar’s Ph.D. is in social psychology; as an undergrad, she double-majored in psychology and economics. How is this happening? The store is called Draeger’s Market; it’s a northern California institution. But this week a video showed just how much the store and the shoppers benefit from having these happy, friendly, and enabled workers on the floor when a viral clip circulated of an employee calming a shopper’s crying toddler with a personalized song and dance routine. And on the back of the coupon was a code that told us if they saw six versus 24. Trader Joe’s? And if you’re dying to learn a bit more about how Trader Joe’s works, check out the episode that the podcast Household Name did about two-buck Chuck, the famous cheap wine beloved by Trader Joe’s fans. Including: the business-school professor Michael Roberto, whom you’ve already met: Also, the Columbia Business School professor Sheena Iyengar, whose research specialty is particularly relevant here: IYENGAR: So I’ve been studying choice — why do we want choice, what are the things that affect how and what we choose, and what are some things we can do to improve our choice-making abilities. Consider for example the following quote from their CEO Dan Bane which was featured in their own podcast … Download Audio. So they also maintain the mystery of novelty for me. And, again, I don’t mean to heap undue praise on a grocery chain just because they’ve found a way to make their appealing food cheap and treat people pretty well along the way. The quirky little grocery chain with California roots and German ownership has a lot to teach all of us about choice architecture, efficiency, frugality, collaboration, and team spirit. Discover the hidden side of everything with Stephen J. Dubner, co-author of the Freakonomics books. I mean, three and four times better than some of the leading players in the industry. One reason is that rather than stocking shelves overnight, like most grocery stores, Trader Joe’s stocks them during business hours. The episode tried to dissect what made TJ’s so successful. Not a roomful, like she had tried. Whereas of the people who stopped when there were six on display — 30 percent of the coupons were redeemed. Dubner also has featured guests as diverse as Jim Yong Kim, the World Bank President, TV personality Charlie Rose, and Vanguard founder, Jack Bogle. We’re not going to accept coupons. Stream from our RSS Feed. Hey everyone, I'm not allowed to post links as a newb but take a listen to Freakonomics' recent podcast about Uber. February 15, 2021 in Category: Podcast. The quirky little grocery chain with California roots and German ownership has a lot to teach all of us about choice architecture, efficiency, frugality, collaboration, and team spirit. This suggests that from the very beginning, Trader Joe’s understood cream-skimming — targeting a certain kind of customer and letting the rest slide by. But “turbinado sugar”? What do Michelangelo and #TraderJoes have in common? In fact, if Freakonomics were a grocery store, it might be a Trader Joe’s, or at least try to be. ROBERTO: At Trader Joe’s, what they want is employees in the aisles who have sampled the product, who know the product. I mean there was some discussion about keeping the cold things cold, and how important that is, and there was a little bit of discussion about, “This is how our cash register works,” about, “When you’re bagging groceries, this is how you do it.” There was some discussion of process. Trader Hoes is a weekly podcast that covers all things Trader Joe’s — and a few things that aren’t. Hmm … intriguing! Interesting: a larger choice set generates more interest; the smaller choice set generates more action. How Can You Stop Feeling So Irritable? From our humble beginnings as a small chain of eclectic Southern California convenience stores, Trader Joe’s has grown to become a national chain of 515 (and counting) neighborhood grocery stores, employing more than 45,000 Crew Members. He went with a South Seas theme: beachy tchotchkes, Hawaiian shirts, calling employees “captains” and “crew members.”. Nor am I saying that Trader Joe’s should win the Nobel Peace Prize. We’ll have no self-checkout. How did Trader Joe’s respond? The typical supermarket stocks roughly 35,000 items. But what impressed him once he got inside — working as a crew member for $12 an hour — was the company’s culture. They were very secretive. (Rebroadcast) by Freakonomics Radio and see the artwork, lyrics and similar artists. That’s why Sheena Iyengar thinks of shopping there as a variety-seeking exercise. And if I can create this Facebook page and I can get people around the state to start liking it and sending Trader Joe’s an email to say, “Hey, we would really love to see your store here,” then maybe Trader Joe’s will actually listen to us. Discover the hidden side of everything with Stephen J. Dubner, co-author of the Freakonomics books. No online ordering and pickup. Audio HTML5 tidak disokong. I’m trying to update my brain on choices. There was a tremendous amount of discussion about how are you going to be with the customers. A quirky little grocery chain with California roots and German ownership has a lot to teach all of us about choice architecture, efficiency, frugality, collaboration, and team spirit. 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