Trader Joe's

Episode 11

Time Stamps

[0:14] – Jennifer opens by discussing Trader Joe's and its popularity.

[2:07] – Jennifer explains what Trader Joe's is to someone outside the United States who might not be familiar with it.

[2:58] – We learn that one reason for Trader Joe's success is its limited choice.

[3:49] – Jennifer refreshes us on what the choice overload principle is.

[4:30] – Research has found four predictors as to when choice overload will appear, the first being choice set complexity.

[5:04] – The second predictor is called decision task difficulty.

[5:25] – The third predictor of choice overload, we learn, is preference uncertainty.

[5:54] – The fourth and final predictor is the decision goal.

[6:27] – Jennifer explains how Trader Joe's reduces choice overload, beginning with giving customers fewer but better options.

[7:38] – Trader Joe's also reduces choice overload by never having a sale.

[8:52] – Jennifer reveals the third and final way that Trader Joe's reduces choice overload – not letting brands compete for shelf space.

[9:59] – We learn how we can apply Trader Joe's methods to our own businesses and brands.

Links and Resources

Choice Hacking - Website

Published on 4 years, 5 months ago

Podcast Episode Details