Stephen Dubner

We've updated facts and figures as necessary. I should note that Trader Joe's did not participate in the making of this episode. Their executives don't tend to give interviews. Although we did receive a note from then-CEO Dan Bain after we first published this episode in 2018. He wrote, you pose the question, should America be run by Trader Joe's?

We've updated facts and figures as necessary. I should note that Trader Joe's did not participate in the making of this episode. Their executives don't tend to give interviews. Although we did receive a note from then-CEO Dan Bain after we first published this episode in 2018. He wrote, you pose the question, should America be run by Trader Joe's?

We are pretty sure such work would likely require a coat and tie. We like Hawaiian shirts, so we will pass. Thanks. Let me know what you think of this episode. You can always leave a comment on your podcast app or send us an email to radio at Freakonomics.com. As always, thanks for listening.

We are pretty sure such work would likely require a coat and tie. We like Hawaiian shirts, so we will pass. Thanks. Let me know what you think of this episode. You can always leave a comment on your podcast app or send us an email to radio at Freakonomics.com. As always, thanks for listening.

We are pretty sure such work would likely require a coat and tie. We like Hawaiian shirts, so we will pass. Thanks. Let me know what you think of this episode. You can always leave a comment on your podcast app or send us an email to radio at Freakonomics.com. As always, thanks for listening.

And that is Michael Roberto. He's a business professor at Bryant University, formerly of the Harvard Business School. There's one lecture he likes to start by giving his students this fictional Shark Tank pitch.

And that is Michael Roberto. He's a business professor at Bryant University, formerly of the Harvard Business School. There's one lecture he likes to start by giving his students this fictional Shark Tank pitch.

And that is Michael Roberto. He's a business professor at Bryant University, formerly of the Harvard Business School. There's one lecture he likes to start by giving his students this fictional Shark Tank pitch.

And of course, you're supposed to think, there is no way I'd invest in that company. That sounds like the stupidest company ever. And of course, you get a lot of consternation. That's when Roberto reveals that not only does such a grocery store already exist, but they're crushing the competition.

And of course, you're supposed to think, there is no way I'd invest in that company. That sounds like the stupidest company ever. And of course, you get a lot of consternation. That's when Roberto reveals that not only does such a grocery store already exist, but they're crushing the competition.

And of course, you're supposed to think, there is no way I'd invest in that company. That sounds like the stupidest company ever. And of course, you get a lot of consternation. That's when Roberto reveals that not only does such a grocery store already exist, but they're crushing the competition.

So it sounds like customers love this place, but you might think a store like this would be brutal to work for. And yet, it's ranked among the 100 best American companies to work for. So what's it called? Trader Joe's. Trader Joe's. Trader Joe's.

So it sounds like customers love this place, but you might think a store like this would be brutal to work for. And yet, it's ranked among the 100 best American companies to work for. So what's it called? Trader Joe's. Trader Joe's. Trader Joe's.

So it sounds like customers love this place, but you might think a store like this would be brutal to work for. And yet, it's ranked among the 100 best American companies to work for. So what's it called? Trader Joe's. Trader Joe's. Trader Joe's.

There's a good chance that you have never shopped at a Trader Joe's, maybe never even heard of it. It's got just over 600 stores. The big chains like Kroger and Albertsons have well over 2,000. Walmart sells groceries in more than 4,000 of its stores. And as Michael Roberto told us, Trader Joe's doesn't advertise or do a lot of things the typical grocery store does.

There's a good chance that you have never shopped at a Trader Joe's, maybe never even heard of it. It's got just over 600 stores. The big chains like Kroger and Albertsons have well over 2,000. Walmart sells groceries in more than 4,000 of its stores. And as Michael Roberto told us, Trader Joe's doesn't advertise or do a lot of things the typical grocery store does.

There's a good chance that you have never shopped at a Trader Joe's, maybe never even heard of it. It's got just over 600 stores. The big chains like Kroger and Albertsons have well over 2,000. Walmart sells groceries in more than 4,000 of its stores. And as Michael Roberto told us, Trader Joe's doesn't advertise or do a lot of things the typical grocery store does.

The grocery business is famous for low profit margins, lots of competition, and lately an even bigger problem. American consumers now spend more money in restaurants and bars than in grocery stores. Trader Joe's does seem to be bucking this downward trend. It doesn't just have customers, it has fans.

The grocery business is famous for low profit margins, lots of competition, and lately an even bigger problem. American consumers now spend more money in restaurants and bars than in grocery stores. Trader Joe's does seem to be bucking this downward trend. It doesn't just have customers, it has fans.

The grocery business is famous for low profit margins, lots of competition, and lately an even bigger problem. American consumers now spend more money in restaurants and bars than in grocery stores. Trader Joe's does seem to be bucking this downward trend. It doesn't just have customers, it has fans.