To get inside the mysterious world of Trader Joe’s, Fortune spent two months speaking with former executives, competitors, industry analysts, and suppliers, most of whom asked not to be named. What emerged is a picture of a business at a crossroads: As the company expands into new markets and adds stores — analysts say the grocer could easily triple its size in the coming years — it must find a way to maintain its small-store vibe with customers. “They see themselves as a national chain of neighborhood specialty grocery stores,” says Mark Mallinger, a Pepperdine University professor who has done research for the company. “It means you want to create an image of mom and pop as you grow.” That’s no easy task. Just ask Starbucks (SBUX, Fortune 500) CEO Howard Schultz, whose expansion has been a huge success but has come at the expense of credibility with some coffee aficionados. The alternative is to remain a small brand with unflagging devotees, like outdoor clothier Patagonia. If it can get the balance right, Trader Joe’s may be one of the few retailers to marry cult appeal with scale. Just don’t expect anyone from the company to talk about it.
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About Me
David Goodman
David has been a member of the Equity Retail Brokers team since 2010. He leases high-quality shopping centers, represents select retail clients and sells vacant bank properties. He is known for his expertise in the grocery industry, and his blog – Running with Equity Retail – is read by industry professionals and shopping center owners. David is a member of Virginia Tech’s Blackwood Program in Real Estate Advisory Board, and an active member of the Retail Brokers Network.
David has a unique and diverse background that has proven to be a great asset to Equity Retail and its clients. Prior to his work in real estate, he was a senior communications and marketing executive in the sports and finance industries. In addition, he served as the chief executive for non-profit, not-for-profit and for-profit organizations. At 29 years old he was named executive director of USTA/Eastern, Inc., which made him the youngest chief executive to ever lead a section of the U.S. Tennis Association. Three years later he co-founded The Tennis Network.
In 2001 David moved to Philadelphia from New York, and after serving as executive director of Arthur Ashe Youth Tennis and Education, he became the Vice President of Communications for Advanta Corp., a publicly traded financial institution in suburban Philadelphia.
David is a professional emcee, an active volunteer for the United States Tennis Association’s Middle States section, and a member of the Lower Salford Township (PA) Planning Commission.
A 1989 graduate of Bryant University in Rhode Island, David is best known for his ability to develop and maintain strong relationships. As a result, he has an excellent network of colleagues and friends in a variety of industries and organizations.
Licensed Real Estate Salesperson: Pennsylvania and New Jersey
Professional Affiliations: ICSC, Retail Brokers Network, Capital Markets Real Estate