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Notes from

  • Costco
    • “arrogantly simple” business model - hook shoppers by offering high-quality products at the lowest prices
    • gross margin iss ~12% vs. Walmart’s 24%
    • 129 million members in 2023 → \$4.6 bn, more than half of operating profits
    • 3,800 distinct items vs. 7,000 items at Sam's Club vs. 120,000 at Walmart superstore
    • Kirkland Signature accounts for over a quarter of sales
    • Staff turnover is 8%
    • offers generous medical and retirement benefits to employees
  • Telsey Advisory Group

Notes from

  • Costco
    • intelligent loss of sales
    • To protect low prices, Costco has in place what organizational psychologists call “commitment devices” that deliberately limit what it can do in the future.
    • There is a rule for not marking up any branded item by more than 14% and any Kirkland item by more than 15%.
    • 871 stores
  • Four Seasons Hotels and Resorts
    • doesn’t do loyalty programs.
    • Its way of boosting sales and attracting new customers is to offer consistent service and rely on word of mouth.
    • Isadore Sharp is the founder
    • high-touch-service, medium-size hotels
  • Unit managers — those who run a single factory, store, hospital, call center, or hotel
diary/2024-03/2024-03-15.txt · Last modified: 2024/03/15 14:49 by raju