Supermarket Perimeter
www.supermarketperimeter.com/articles/5656-trader-joes-making-a-comeback-after-worst-of-covid-19
Trader Joes
Walter Cicchetti - stock.adobe.com | Source: Trader Joe's

Trader Joe’s making a comeback after worst of COVID-19

09.21.2020

MOVROVIA, CALIF. - Back in April, when the pandemic was crashing into the US market, Trader Joe’s experienced a loss of 44.4% of year-over-year monthly visits, according to data released by Los Altos, Calif.-based Placer.ai. 

“In March, we noted the unique struggles that Trader Joe’s would likely face during COVID,” said Ethan Chernofsky, vice president of marketing for Placer.ai. “The brand’s pricing, lack of online orientation, and perception as ‘part’ of the grocery picture as opposed to a one-stop-shop, were factors that we felt would limit success.” 

May and June continued to be rough months for the grocery retailer, coming in 24.6% and 12.1% below 2019 visit numbers. Signs of turnaround came in July, when Trader Joe’s came in just 3% below 2019. And in August, for the first time since March, the retailer came in ahead with a 1% gain in monthly visits year-over-year. 

“Trader Joe’s marked its first month of year-over-year visit growth since February, and amazingly, it’s done so while other brands who’ve struggled – like Whole Foods – remain down,” Chernofsky pointed out. “While the wide geographic distribution may be helping, the progress goes a very long way in building a model for how different types of brands can drive recoveries even while facing significant obstacles.”