Despite the refusal of anyone at Trader Joe’s to participate in this Fortune article, Beth Kowitt has written a fascinating account of everybody’s favorite grocery-shopping experience:
- Store managers, “captains” in Trader Joe’s parlance (newly promoted captains are commanders; assistant store managers are first mates) can make in the low six figures, and full-time crew members can start in the $40,000 to $60,000 range (WHOA. Career change?)
- Trader Joe’s biggest R&D expense is travel for product-finding missions around the globe.
- To pick their next locales, employees look at demographics such as education level and readership of gourmet magazines.
- Crew members aren’t told the margins on products, so placement decisions are made based not on profits but on what’s best for the shopper.
Curious about the Three-Buck Chuck? Watch this video of some pretty boring old guys talking about wine.