Plus, intel on how TJs determines its prices.
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How Does Trader Joes Set Its Prices?
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One of the key reasons customers love TJs is because ofthe reasonable prices.
So, how does the company set prices for the thousands of items it sells?
According to Sloan, this is, in part, how Trader Joes sets itself apart fromother grocery stores.
We lead with our customers in mind, Sloan added.
We are very, very reluctant to raise our retail [prices].
When costs are going down, we dont wait.
We lower the retails the second we find out the cost is going down.
Olives grow in places that have had a little bit less rainfall and a little bit more heat.
Spain’s the biggest grower of olives and they’ve had a couple bad harvests in a row.
Though that may not seem like much, it represents an increase of roughly 21 percent.
It’s been super for the last couple of years.
We had plenty of rain.
That’s a really great value.
