5 Major Changes Underway at Trader Joe's
There are a plethora of different grocery chains throughout the United States where consumers can meet their shopping needs, but few have captured the hearts of shoppers quite like Trader Joe's. The California-based retailer, founded in 1967, has developed a cult-like following for its neighborhood market vibe, unique store-brand products, and friendly fleet of Hawaiian shirt-clad employees. Consumers love Trader Joe's so much, in fact, that it ranked among the top 10 best grocery stores in the country in the latest edition of USA Today's annual 10 Best Readers' Choice Awards.
But even though Trader Joe's has evidently carved out a strong hold on the grocery industry, the grocer isn't sitting on its laurels by any means. In fact, it's undergone several major changes this year—many of which will directly impact shoppers. (Think price increases, new store openings, and exciting product launches.)
Read on for five major changes underway at Trader Joe's in 2024!
The first banana price increase in 20 years
One of the biggest pieces of Trader Joe's news to come out this year revolves around a relatively unassuming fruit: the banana. This past spring, the retailer made major waves when it raised the price of its individual bananas from 19 cents to 23 cents. Not only did this represent a roughly 21% price increase, but it was also the first time Trader Joe's single bananas became more expensive in over 20 years.
"We only change our prices when our costs change, and after holding our price for bananas at 19¢ each for more than two decades, we've now reached a point where this change is necessary," a representative told CNBC in a statement on the decision. However, the statement stressed that the higher price "still represents a tremendous everyday value for bananas."
Tons of new product launches
Trader Joe's has released a near-constant stream of exciting new products hitting shelves throughout the course of 2024, ranging from snacks and beverages to frozen meals and desserts. Highlights of this year's new Trader Joe's product launches include Japanese Soufflé Cheesecakes, Pumpkin Spice Mini Sheet Cakes, Steamed Vegetable Soup Dumplings, and Chicken Uncured Bacon Ranch Dip, as well as Spicy Squiggly Noodles, Coffee Panna Cotta, and Bubble Waffles.
However, arguably the most buzz-worthy new Trader Joe's items of all this year have been its Mini Totes. The petite bags first debuted in early 2024 and quickly became a viral sensation among Trader Joe's shoppers, who flocked to stores and quickly bought out the entire supply. Trader Joe's ended up bringing the bags back for a limited time in September in light of that incredible demand. It also debuted an insulated version of the mini bags, which similarly went viral and quickly sold out before returning in October.
Rapid expansion
Trader Joe's is expanding fast, and it could very well be headed toward an area near you. The grocer has opened (or announced plans to open) dozens of new stores across the country since the start of the year.
California, Virginia, New Jersey, Texas, Nevada, Arizona, Maryland, Oregon, Pennsylvania, Utah, Idaho, Florida, North Carolina, South Carolina, and Washington, D.C., are among the markets that have or will receive a brand-new Trader Joe's. (A full list of the new stores with address details is available on the company's website.)
Though Trader Joe's has yet to unveil opening dates for some of these locations, it frequently updates its website with new information on the planned stores. So customers should keep checking back for updates on potential Trader Joe's openings in their corner of the country.
Discontinued favorites return
In addition to debuting scores of exciting new items, Trader Joe's has also brought several beloved products out of retirement. That includes the seasonal Organic Maple Butter, which returned to stores this past fall three years after it was last available.
Similarly, the tangy, smoky Synergistically Seasoned Popcorn—last available in 2022—also returned to stores for a limited time this past spring. Other previously discontinued products including sushi, instant cold brew, and black tea gallons also made their way back to shelves this year.
Fans have been extremely delighted to see their old favorites back from the grave. For example, when the Organic Maple Butter came back earlier this year, customers took to social media to celebrate the news.
"I'm crying tears of joy," one shopper wrote on Reddit.
Even bigger crowds
Trader Joe's certainly wasn't lacking in popularity before 2024. In fact, customers adore the chain so much that they've created a thriving Reddit forum over the years where fans discuss their favorite products and anything else that has to do with TJ's. However, new data indicates that the grocer is only growing more and more popular with consumers in 2024.
In an October report, the foot traffic platform Placer.ai revealed that the specialty retailer had been outperforming the rest of the grocery industry in growing customer traffic all year. In August 2024, for example, TJ's saw an 8.7% uptick in customer visits, compared to 3% for the industry as a whole. The nearly 9% traffic boost in August followed notable increases of 4.6%, 8.9%, and 5.6% in the prior three months.
The Placer.ai report suggested that TJ's rising popularity was due to its expansion efforts and focus on selling good-quality products that won't break the bank.
"By continuing to meet consumer demand for value and quality, and through the ongoing expansion of its fleet, Trader Joe's is likely to sustain foot traffic growth in the near future," it read.
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