ICYMI: How Does Trader Joe's Set Prices (Spoiler Alert: It's About Value)

Inside Trader Joe's

Trader Joe's

Arts, Nutrition, Health & Fitness, Food

4.7 • 4.2K Ratings

🗓️ 13 May 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

At Trader Joe’s, we more or less obsess over value, that magical place where top quality and excellent prices meet. From Olive Oil to Almonds, and a few thousand other products in between, we do the work to ensure we’re offering the best products at the best prices, every day. So, how do we do set our prices? Tune in to the latest in our series of bite-sized episodes, ITJ ICYMI, to get the scoop.

Transcript (PDF)

Transcript

Click on a timestamp to play from that location

0:00.0	The crew members at your neighborhood Trader Joe's get so many questions and they're pretty good at answering them.
0:06.0	I wonder if other grocery stores get asked some of these questions.
0:10.0	I wonder if they answer them.
0:11.0	At Trader Joe's, we do answer them and sometimes our answers are a little different.
0:15.9	Like the answer to this question.
0:17.6	How do you set your prices?
0:19.0	Now that is a good question for an I see why am I in case you missed it special episode of
0:25.8	inside Trader Jones.
0:29.2	I'm Tara Miller, Director of Words and Phrases and Clauses.
0:36.5	And I'm Matt Sloane, the Culture and Innovation Guy at Trader Joe's.
0:40.5	I see why am I. In case you missed it, how do we set the prices at Trader Joe's I think everybody is wondering
0:47.3	What's up with grocery prices these days? Yeah, and what's down because some of our prices are going down.
0:54.0	Yes, both happen.
0:56.0	You know, at Trader Joe's prices are a part of value
1:00.0	and what we mean by value is offering outstanding quality at great prices.
1:06.0	Price is what you pay, value is what you get for it. Let's dig in.
1:11.0	For example, take olive oil. Yes, take my olive oil, please.
1:16.0	Oh, we need a rim shot here.
1:18.0	Chris is a senior category manager here at Trader Joe's. Let's talk to him about olive oil.
1:24.0	Hmm, that doesn't seem like a great thing to talk about right now because...
1:28.0	Well, tell us about why, because olive oil has been a little bit in the press recently.
1:33.6	Yeah, so the laws of supply and demand seem to have kicked in and demands there, but supply has
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Trader Joe's, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Trader Joe's and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.