Tuesday, August 24, 2010

Innovation that Works (For a Change!): The Secret Life of Trader Joe's

We came across this profile of Trader Joe's, "a national chain of neighborhood specialty grocery stores," that offer some really good information on the strategic choices they make when it comes to running their business.

Fortune's Beth Kowitt apparently spent two months trying to crack the success code, and her article paints a picture of a thoughtful, deliberate, and focused company.

What particularly struck us was the grasp company management seems to have on how to keep the brand fresh with interesting, exciting, high-quality products.

We hear about brands struggling with growth and trying to figure out to stay relevant. Trader Joe's makes for a great example of how to focus innovation efforts to continuously refresh a brand, while staying true to the original concept that customers know and love.

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