The BEST grocery store brand in the US right now is Market Basket. Here’s their secret.
What is the BEST grocery store brand in the US right now?
That’s an easy one. It’s Market Basket.
It’s easy to see why. Market Basket is how we used to run American businesses.
We used to build trust with customers by providing value without marketing trickery, we avoided debt like the plague (it was only a last resort option, particularly for growth), and we ensured that employees prospered along with the business (see Henry Ford).
This approach has provided Market Basket with throngs of loyal customers, a legion of hard working employees, and decades of profitable business growth.
This used to be the way that businesses were run in the US.
Not so anymore. Most US companies are run as piggy banks for Wall Street shareholders instead of the engines of economic prosperity they once were.
Fortunately, the approach Market Basket used to become so great isn’t that hard to copy.
All it takes is a willingness to seek the win-win-win solution.
You know, the kind of solutions to problems where everyone who helps to generate the success of the business wins?
Market Basket did that with their customers, their shareholders, and their employees.
Everyone won and the business prospered.
Unfortunately, a group of passive Market Basket shareholders didn’t see it that way. Despite seeing their shares in Market Basket’s increase in value by over a billion in the last couple of decades, they wanted more.
The shareholders that seized control of the situation wanted to financialize the company. What does that mean?
- Low wage temps for employees.
- Marketing gimmicks and higher prices for customers.
- Massive debt for fast expansion (which makes possible generous dividends for shareholders).
In short, it’s an “I win and everyone else loses” formula.
The “I win and everyone else loses” formula is a BIG reason why the US economy can’t deliver economic prosperity anymore.
Of course, we don’t have to put up with this crap anymore.
Let’s kick this greedy, quant-driven failure of a business approach to the curb, where it belongs.
Let’s tell US companies that we wan’t win-win-win solutions or they don’t get our business anymore.