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(Or should we start calling it Four Buck Chuck?
In recent years, the price has increased to $3.99.)
Cost is what Trader Joes pays to its source.
Price is what Trader Joes charges its customers.
Take the example of olive oil.
This is because olives grow in regions where its a little hotter and theres less rainfall.
When their costs change, Sloan said the prices at Trader Joes change.
Does Trader Joes Lower Its Prices?
The answer is yes, according to Miller and Chris.
We are very, very reluctant to raise our retails.
Thats the decision of last resort, said Chris.
When costs are going down, we dont wait.
We lower the retails the second we find out the cost is going down.
Part of Trader Joes philosophy is that the grocery chain acts as a buying agent for its customers.
We want to get you the best deal.
When prices are lower, people tend to buy more stuff, said Miller.
Whats Dropping in Price at Trader Joes?
Prices either go up or come down.
Right now, theyre going down thanks to the California crop.
According to Cara, the state of California produces 80% of the worlds almonds.
We sell different varieties of nuts in almonds, said Cara.
We sell what we call the raw and we have a half salt and salted.
We also sell slice and sliver and we lowered each of those items by a dollar.
Right now, Cara said the price of roasted and salted almonds at Trader Joes is $5.99.
This is a dollar less than the original price of $6.99.
For baking products with slivered and sliced, theyre at $2.99 originally $3.99 for eight ounces.
The simple reason why is Trader Joes wants to confirm they have compelling prices.
This is an example of why Trader Joes doesnt use a cost-plus pricing model.
Sometimes our prices go up because costs change in the world, said Miller.
That I think really sets us apart from other folks who sell groceries.
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