The Business Strategies Behind Chick-fil-A, Costco, Starbucks and More | WSJ The Economics Of
9,117,159
Published 2023-05-20
From Chick-fil-A and Starbucks, to Ikea and Target, WSJ talked to CEOs and business leaders about their unique approach leading these major brands.
0:00 Chick-fil-A
8:36 Costco
14:38 Starbucks
21:52 IKEA
27:38 Crocs
33:50 Dollar General
39:41 Sephora
45:45 Target
52:20 Airbnb
59:35 Home Depot
The Economics Of
How do the world's most successful companies generate revenue? In this explainer series, we'll dive into the surprising stories behind how businesses work--exploring everything from Costco's "treasure-hunt" model to the economics behind Amazon's AWS.
#WSJ #ChickfilA #CostCo
All Comments (21)
-
I honestly loved seeing Starbucks close on Canal Street in New Orleans. For those that don't know, Canal is one of the big streets for businesses in New Orleans, and Starbucks was replaced with a local coffee shop.
-
-
I can imagine how Chick-fil-a workers feel motivated by having not to work on Sundays, such a great policy of the company. And it does not seem they lose customers due to this policy because the restaurants are crowded the rest of the week. Win-win philosophy for both the company and the workforce.
-
I worked at Target last year and can confirm my store didn't have separate teams for drive ups. We had the Service Desk. We had to manage online orders and driveups at the same time. I ended up quitting because it was always busy with no resources provided by corporate for our store to operate properly, I worked at the store that was top 5 for revenue in the U.S. It is insane to me that they couldn't afford to have a separate team!
-
My cousin worked at Chick-Fil-A while she was in college. She really liked how they treated their employees.
-
i work at a chick-fil-a. i absolutely love it there. everyone i work with are so great and theres a big push on teamwork at my location. i 99% have great experiences with guests (there's always some bad ones lol). my location gives back to my community as much as they can. as an incoming college freshman, i especially love they scholarship opportunities they can provide for us, and there's even a college through chick-fil-a.
-
You can’t beat Chick-fil-A with its service…! They have the best employees which is non existent these days. I don’t know how they do it?!! Love them!!
-
It's actually not true that Dollar General is cheaper than other stores. Maybe on a very few select items. But overall, they're actually MORE expensive.
-
Closing on Sunday really does give more business on Monday. My family’s business closes Sunday. So Monday and saturdays are our busiest days. Whereas other restaurants close mondays because it’s a slow day generally
-
Great job on this report. I would love to know why businesses failed, like Sears, other department stores, or newer stores like Bed Bath and Beyond. Thank you
-
I like Chick-Fil-A simply because it is clean, the staff are friendly, and the food is served fast and tasty ... it is pretty shocking to me that their simple common sense idea is so radically different than all the other fast food marketing strategies ...
-
This random video the algorithim brought me was more entertaining and informative than i expected🤓
-
We live near IKEA and we just go there for lunch most of the time. Other days we walk in to get some food items in the supermarket. We rarely ever buy furniture there 😂
-
# · Name · Strategy (Main) 00:00 · Chick-Fil-A · Selection: Minimum Popular. 08:36 · Costco · Customer: Membership. 14:38 · Starbucks · Card. 21:11 · IKEA · Price: Low Unbuilded. 27:37 · Crocs · Selection: 1 Unlimited Custom. 33:49 · Dollar General · Place: Far & Cheap. 39:41 · Sephora · Product: Try. 45:53 · Target · Place: Near & Chick. 52:20 · Airbnb · Service: Industry Shift. 59:34 · Home Depot · Customer: Pro 50%.
-
Finally, some insights into the strategies behind major brands. It's about time CEOs and business leaders shared their approaches.
-
Its in the first chapters of “richest man in babylon” shrink your options to your customers to a couple and sales always go up. Its fundamentals in every sales game, the more options and varieties you mention the longer the customer spends thinking about which option to go with ending in a “ill think about it” and no sale slafter spending much time. Instead bring out 2 or maybe 3 and say choose one, this mentally helps them narrow down their selection time and much easier to then go for the assumption close.
-
⭐Summary: (1) Keep cost low for customers (2) pay employees well (3) keep things simple
-
Costco is similar to IKEA in the way that the more you wander, the more stuff you would end up purchasing.
-
they should show this doc in all high school Economics classes. Very informative. I'll be waiting on more episodes.
-
Investment in stocks is a great way to invest your money. The team is constantly checking the market for changes and make sure that you are always informed about the best time to invest. As a result, I have made more money than ever before, and I don't have to manage my portfolio on my own! Invest in stocks, it's worth it!
