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.
@@yellowblanka6058 A friend of mine who enjoys both Starbucks and home-made specialty coffee explained it to me as follows: people don't go to Starbucks to enjoy coffee, people go to Starbucks to enjoy the atmosphere of a coffeeshop while knowing that you will always have a place with a functioning Wi-Fi, decent bathrooms, and reliable service with loyalty programs. From students who periodically have group study sessions, to a WFH worker who is tired of their home office and works at a coffeeshop once or twice a week. As far as Starbucks locations are concerned, one of their biggest advantages (in Korea anyway) is that their bathrooms are always clean, which is an incredible achievement since coffeeshops historically always had disgusting bathrooms (with Caffeine being a diuretic and all). Starbucks feels clean, serious, and with pretty decent drinks as long as you're getting a dessert drink (which is what most people get when they stay in) and not a Latte or an Americano (which is what most people get when they get coffee to-go).
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!
I think Target has made some bad choices over the past few years. I would be surprised to see them survive much longer. I know many who refuse to shop there. That may be the root of the reason for not hiring a separate team for drive ups.
@@MrTwonetwone Don't tell them to get over it. There is nothing wrong with treating employees well. While I don't believe in Unions (in most cases they dont' even benefit the workers). I do believe in Employee rights/regulations and I think there is a benefit to everyone when employees are treated better (attitudes roll downhill, if management is ONLY concerned with profits (including cutting quality of product to make more money and they mistreat workers, it is not a good long term business strategy). Many McDonald's franchises and other companies behave this way and it shows in their poor quality of products/service (compared to Chick-fil-A
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 ...
Hunh? Which fast food chain isn't cleanm serveing tasty food fast, with its staff totally grinning at you? None. That's the baseline quality of all American food chains.
make sure you guys read ingredients before consuming things, america thrives in making us sick.. that simple chicken sandwich has over 50 ingredients in it, that blew my mind & i havent eaten it since
I have to admit, I felt a strange satisfaction seeing Starbucks close on Canal Street in New Orleans. For those who aren’t familiar, Canal is a major hub for businesses here-and seeing a local coffee shop take its place felt like a small victory for the soul of the city. It’s refreshing to see local businesses reclaiming their space in a world dominated by chains!
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 visited Bed, Bath and Beyond at both their new locations at College and Yonge in Toronto, the below-ground trial and the huge above-ground when the flashy new building opened, when they were new. They looked totally clueless: utterly routine product that you could buy anywhere -- half a dozen large trusted companies within a ten minute walk -- at simply inane sky-high prices. I was the only person in the place both times. not even any visible staff, and I saw exactly nothing I was tempted to buy. I bought new pillows and pillow-cases recently, at their competitor in the building next door. Sears has not been a department store for a generation: I don't know when the switch happened, but they saw the writing on the wall and converted themselves into a landlord for individual businesses which disguised themselves as Sears departments. I.e., where Sears once sold pillows, now there would be an eager small investor running her, often a young lady, own pillow stand. That looks like a good idea to me, and it may have been. One problem is, they were constrained to working in their own old, usually multi-storey, building, while an investor who thought, say, pillows were a good venture had the choice of going anywhere. I dunno.
Seriously guys? The writing is on the wall... Amazon. Walmart, same day delivery, refund before return, everything on earth available at a click, remote work/high gas prices that translates right along with the dying off retail big box world in general. Even the now revamped target that almost collapsed, and at one point could have bought amazon, is doing great. I could do a novel on all this but the data is out there.
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!!
"All breathing, existing, living, sentient creatures should not be slain, nor treated with violence, nor abused, nor tormented, nor driven away." - Mahavira, Jaina Sutra: Acharanga and Kalpa Sutra
@@Bobin10101 Killing animals, destroying life just for food, while science is absolutely in a position to provide you with vegetarian food, with all the necessary ingredients for our health, for your mind, is simply stupid -Osho
I’m a former employee, it’s the training. You have to act that way or you don’t work there since the customer service by employees is part of their brand.
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
"All breathing, existing, living, sentient creatures should not be slain, nor treated with violence, nor abused, nor tormented, nor driven away." - Mahavira, Jaina Sutra: Acharanga and Kalpa Sutra
Yeah this is true because I freaking hate trying to go out Monday Tuesday or even Wednesday and not eating at my fav local food joints because they're closed. It's VERY easy to see whom is closed on Monday nearby and just trying to open the kitchen only maybe only the owner can do this tryout and see how it goes. Maybe just carryout and delivery without having to turn on all the a/c the plasma tvs and cleaning afterwards. You know just a test and if anything just have a few sittings outside to see how many people would eat outside vs asking for takeout. Oh and mind you I usually eat outdoors already in those food trucks even in the carribean island weather in summer so. Maybe look at the businesses nearby, hand out your exclusive Monday to Wednesday menu, have a points program to those who come by these days and such. I mean, in your case opening Mondays is great! I mean it for those guys who don't but they open thus-Sunday making even harder to compete with all the fast food chains nearby pricing and on top of it with other food trucks n such.
"All breathing, existing, living, sentient creatures should not be slain, nor treated with violence, nor abused, nor tormented, nor driven away." - Mahavira, Jaina Sutra: Acharanga and Kalpa Sutra
So funny about the customer connection with workers. My local Starbucks worker noticed when my brakes finally got fixed! It tickled me the entire day that she notice. definitely made me smile!
Amazing content! I have been following your videos for some time now. I've been working on scaling my business for two years and have seen some great progress. Currently, I'm facing some challenges and wondering if there are any short-term opportunities I can explore to help me scale further.
I believe the safest approach is to diversify your investments. By spreading your funds across different asset classes like bonds, real estate, and international stocks than putting all your in one. If your financial understanding is lacking, see a financial consultant.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 750K net from all of my holdings.
This is definitely worth considering! Do you have any recommendations for professionals or advisors I could speak with? I really need help with proper portfolio allocation.
The advisor am currently working with is Judith Lynn Staufer. I came across her in a Bloomberg interview for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.
I found her profile online and reviewed her credentials. She has a lot of relevant experience. Thanks for sharing her information! I've already sent her an email to get in touch.
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 😂
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.
Exactly, Dollar General has deals with many brands to make special sizes just for them which look similar in size to the same brands sold in grocery stores, but are in fact smaller/lighter. They are correctly labeled with their actual weight so they're not *LEGALLY* misleading, but they walk right up to the line to confuse consumers. Dollar General also doesn't just open stores in rural areas, they focus on food deserts, so there are plenty of poor urban and suburban areas with several Dollar Generals. Dollar General also just lost a class-action lawsuit over mislabeling prices, where prices at the register were higher than on the shelves, and had been doing so for several years
I have always said that. They get you with the packaging. You have to watch the quantity of that product. It’s a 1.00 true but how much of the item are you getting for that dollar. No often it’s not cheaper. It’s only made to appear that way
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.
I think its great that Chick-fil-A is closed on Sundays... food service is a tough and important job in our society so its great that these employees have at least one weekend day off per week.
It's wsj, not some unqualified guy throwing together a video. Ofc it's going to be pretty refined and thorough. Also, since you're commenting, you have a yt account. One which tailors suggestions based on what you've engaged with in the past. It's hardly a random process. I don't mean to come off as condescending, it's just that certain phenomena aren't nearly as mysterious as some would believe, and looked at in a certain way, are almost entirely probable and predictable. For instance, some would call running into an old friend you haven't seen in yrs 'random'. But, how many people live in your town that you know, and how many strangers do you see on a typical day? You're bound to run into an old friend eventually, it's not weird in the slightest, and could even be calculated statistically. If you picked a name out of a hat and said "I'll see them tmo at 2:18pm at the corner of x and y street", then it happened, now that would be noteworthy. Even that would be nothing more than coincidence (albeit an amazing one) that the odds of could be figured out. But yea, it was a good vid tho 😂 sorry for the rant.
WSJ - I absolutely love this long form, very detailed content from you guys. This is kind of going with the long form format that many TH-camrs do and I am a big fan of it. I read articles as well but this was just a super interesting, detailed look at these business models. Would love to see more content like this from WSJ
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.
Reading the comment above, maybe conditions favored larger corporations in proportion to mom and pops who expanded. I will say big corporations benefited the most. Especially from PPP lol
I used to think chick-fil-a was all hype till I tried it. Their simple chicken sandwich is soooooo delicious! Whatever spices they use, just elevates the sandwich. It’s one of my favorite fast food restaurants.
I would like to see one on Walmart, my impression could be false but it seems like they’re in the decline in that their reputation has become this untidy, grimy, cheap place. From potholes in the parking lot, to shopping carts that pull to the left, to items just left in random places all over the store. I’d use Aldi for reference since they also offer cheap products but they give off the impression of higher quality (in the U.S.) by using warmer lighting, an eco friendly mission, and it really seems they sell to a different crowd of customers as a result. In Germany atleast it seemed like Aldi was more like a cross between a Kroger and a dollar General though it’s not really fair to compare their stores in Germany to those in the U.S. since Aldi South owns the rights to their international stores whereas the stores in places like Berlin (the one I went to) was owned by Aldi North. What is interesting to note is that Aldi carried over the concept of people at checkout being able to sit down which was everywhere in Germany, they also focus on small selection which allows them to offer more products in a smaller store, another thing common in Germany.
I’m curious what city you’re referring to. Here in California we’re getting quality clothing brands and more newer and modern set ups for the stores. Mass surveillance as usual, but the stores are getting more high-tec with better quality and options than target. It’s changed a lot from the beginning…
I hate Wal-Mart! The last time I was in there, a staff member set off an alarm and turned and demanded to see my receipt! I told her no and walked out to never return! They make you use self checkout and then accuse you of theft when you do!
One thing i can speak on by experience as a former costo employee is costco loves and i mean loves favouritism you wouldn't believe how bad it is until you've worked there and experienced it for yourself.
@@chocolateblended I can tell you so much bosses writing you up for the smallest thing like a customer complaint but not they're favourite employees, bosses letting they're favourite employees goof off and talk with they're friends instead of working but if you're not they're favourite and you say a few words you get told off, bosses giving days off to they're favourite employees who are new and aren't even supposed to have those days off yet but workers who worked they're for so many years ask for those days off and don't get them, favourite employees giving attitude to other workers or even the managers and they don't do anything but if it isn't a favourite that gives attitude they'd be fired on the spot, I can go on and on but what's even worse is some of the employees literally got mental abuse from the managers lots of them even went home in tears that's how bad it is and I know for a fact nothing will ever change.
@@chocolateblended You don't know how lucky you are, the only upside to working for costco is the pay is good in terms of no college needed jobs and because it's costco it has lots of food which is convenient but it's not worth the favouritism and I know it's not the only place with severe favouritism it happens in other jobs way more than the media shows. I'm sure chick fil a and starbucks has some favouritism as well, favouritism is what makes working a nightmare.
I think they put the kids up front, because their souls have not yet been crushed. They probably make them be fake nice, too. Chickfila is a fake nice company...
Next time I'd like to see WSJ's more balanced investigation into such "successful" business strategies. E.g.: What are the sources of the companies' products (e.g. coffee beans, wood, etc.)? To what extent do they ensure environmental protection and fair trade practices? How do they dispose of unsold product and non-biodegradable waste? What are their policies on unionization? What are their minimum wages? To what extent do they limit work hours to the effect of denying employees the full, boasted benefits?
I'm impressed with your report! I'm particularly curious about the factors that contributed to the failure of businesses like Sears, other department stores, and newer stores like Bed Bath and Beyond. Can you please provide some insights?
Chik Fil A does it right, that's for sure. I have never seen a Chik Fil A without a massive line in the drive-thru. I haven't finished the video yet, so I don't know if they mention it, but franchisees are required to work 30 hours per week on location in their store, so they take pride in their stores.
Any company that encourages employees to purchase shares, and financially is willing to help out (like Costco) is always going to do extremely well as the majority of shares are actually owned by the workers and not by billionaire inbred families.
economy is stagnant around the world production is low and limited stock market and interest is harmful earning without producing is not correct we have a free market economy in Turkey small businesses do not pay taxes therefore prices are cheap in muslim countries people are hardworking honest and sincere we are waiting for you for investment thank you
Chick-fil A sounds like an incredible business model, a real business based on steady growth but with real ethics, not something you could say about any bank or Wall Street listed stock company. In the coming years this is going to play more and more into their favour, it’s a shame I don’t eat processed foods much.
As long as you share their religious values. They don’t cover birth control in their employee health insurance. They do cover Viagra. But sure, real ethics.
@@craigslist6988 you were clearly not paying attention, I don’t eat fast food period… I don’t even eat in 90% of restaurants because I can cook better at home, so it’s hard to impress me and yes that’s my problem I am happy to live with…
The BEST Chic fil-A was the original one that opened in Atlanta at Greenbriar Mall and recently closed. Please take that recipe and apply it to your other stores because they are ALL too salty and that one store was perfect! My 84 year old Dad was so disappointed when it closed in May of 2023.
Such a great doc! You guys should do one for the travel industry! All the airlines (private, Legacy Carriers, LCC, and ULCC), hotels, car rental space, Airbnb, vrbo, etc.
I’m learning from this content from WSJ deliberately elaborated the different types of business models which I’m needing right now as I’m entering into a business venture.
My brother-in-law owns three mcdonalds franchises in our (most populous in the country) city. It's brutal. He went from nyc lawyer to this and I never see him anymore. Brutal job.
Costco reminds me of Aldi and Lidl. Small selection of items, products are stored in cartons on the shelves, they have their own brand name, and an extra miselanious isle with always new deals like a grill or clothing. Although they're smaller, they don't move the items just because they can, no membership and the cashiers are faster.
@@blankblank4949What, they aren't both small stores with a minimal number of employees? hehe. Yeah, like saying a housecat and a hippo are the same thing because both are mammals.
We like the close control the company keeps resulting in high standards and great service to the public. And waaay appreciate the good clean food snd they like and care about their young workers Also you have to respect the company's good life values.🌿
Chick-fil-A food and model as an employer and employee customer service has been the best for decades. I was blessed to drive by Truett Cathy’s home in the 90’s &20’s on my way to work. The work ethic Cathy led by example and has done so much for employees and the community. Like many things since 2020/2021 things have changed. I am no longer eating Chick-Fil-A. Their quality of chicken has changed drastically since 2022, it’s not the same and one questions what’s in the chicken from fried to grilled. DAN CATHY COME OUT OF RETIREMENT AND RESCUE THE WONDERFUL RESTAURANT YOUR FATHER STATRED! STICK TO HIS VALUES😇❤️🙏
I almost agree with the Costci segment. Unfortunately they had a CEO change and they have raised their prices like every other retailer. A 4 pack of butter was $8.99 now it's $14.99. I have seen price increases throughout the store.
Chick-fil-A NEED TO BRING BACK THAT WONDERFUL COLESLAW, which is the BEST ever made in a restaurant. I never liked coleslaw until I tasted their FINELY CHOPPED one. The SECOND best is at LONG JOHN SILVER'S, which is the ONLY reason I go to Long John Silver's drive-thru....just to BUY their COLESLAW to eat with OTHER meals LOL. It's just the best VEGETABLE SIDE DISH to eat with chicken, ESPECIALLY a chicken sandwich, or FRIED meats & ANY Barbecue 😍😁
I know in NC we have voted to ban building Dollar Generals multiple times. They poped up kiterally everywhere a few years ago. Theres probably 4 within 7 mins of my house.
All the reasons listed for Costco success is why I stopped going. I got so tired of trying to find my usual products. I would always have to ask what asle number they moved my stuff to one week from the next. Just wanted to get in and get out but they try to make that as hard a possible. Once Google stopped doing delivery from Costco I cut up my membership.
I wore Crocs when I was a pharmacy tech and they were the most comfortable and made my feet hurt the least. They really do help people who are on their feet all day. So I'm team Crocs!
I already own shares of Tattooed Chefs and Kairos Minerals, and I'll buy some Corsair as well. Sure, I don't mind having these equities sit around for a few years, but I'd also like to appreciate short-term profitable investments that could, say, turn $50K into $200K.
Most newbies either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
@@africanboi4542 I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them? It Intrigues me to keep learning
@@selenajack2036 I've worked with a few different financial advisors, but I ultimately chose ELEANOR ANNETTE ECKHAUS because she seems to be very thorough and knowledgeable about the financial market. I have made more profits with her guidance than I ever did when I invested on my own using TH-cam.
@@africanboi4542 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm always fascinated by the success stories of these companies. Their unique business strategies offer valuable insights for entrepreneurs and business enthusiasts.
Kirkland has been consistently good quality. We switched from BJs to Costco because it is just better. It is pretty noticeable that other people agree because there are more people shopping at Costco than there are at BJs. Alos, Costco's food court is awesome especially in this age of inflation.
0:00 - Chick-fil-A
8:37 - Costco
14:39 - Starbucks
21:52 - IKEA
27:38 - Crocs
33:50 - Dollar General
39:42 - Sephora
45:55 - Target
52:21 - AirBnb
59:35 - Home Depot
Good looks bro
Thank you!
It Is Three Comments.
Thanks!
You do Gods work Sir 🫡
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.
Love seeing that ❤
Shop local ❤😊
Starbucks not good. GLad to hear local business won out.
I still find it hard to believe people pay so much for what is mediocre coffee.
@@yellowblanka6058 A friend of mine who enjoys both Starbucks and home-made specialty coffee explained it to me as follows: people don't go to Starbucks to enjoy coffee, people go to Starbucks to enjoy the atmosphere of a coffeeshop while knowing that you will always have a place with a functioning Wi-Fi, decent bathrooms, and reliable service with loyalty programs. From students who periodically have group study sessions, to a WFH worker who is tired of their home office and works at a coffeeshop once or twice a week.
As far as Starbucks locations are concerned, one of their biggest advantages (in Korea anyway) is that their bathrooms are always clean, which is an incredible achievement since coffeeshops historically always had disgusting bathrooms (with Caffeine being a diuretic and all). Starbucks feels clean, serious, and with pretty decent drinks as long as you're getting a dessert drink (which is what most people get when they stay in) and not a Latte or an Americano (which is what most people get when they get coffee to-go).
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.
in france all businesses are closed on Sundays by law
I can imagine how Chick-fil-a worker vegan feel motivated
Oh, a whole day sir? May I have but one more? Eat my shorts.
Judeo-Christian like homophobia, racism, antisemitism and sexism?!? The management are openly antisemitic and racist!
@@geoms6263NOT!
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!
wall street corp greed
I think Target has made some bad choices over the past few years. I would be surprised to see them survive much longer. I know many who refuse to shop there. That may be the root of the reason for not hiring a separate team for drive ups.
To me... the stores smell of a "plastic / disinfectant" combo.
The American dream.
My cousin worked at Chick-Fil-A while she was in college. She really liked how they treated their employees.
Too bad the owner of Chick-Fil-A is a hateful bigot that refuses to treat LGBTQ+ people with any respect.
Sadly you can't say the samething for all of the companies on this list.
@@MattMatt77get over it
@@MrTwonetwone Don't tell them to get over it. There is nothing wrong with treating employees well. While I don't believe in Unions (in most cases they dont' even benefit the workers). I do believe in Employee rights/regulations and I think there is a benefit to everyone when employees are treated better (attitudes roll downhill, if management is ONLY concerned with profits (including cutting quality of product to make more money and they mistreat workers, it is not a good long term business strategy). Many McDonald's franchises and other companies behave this way and it shows in their poor quality of products/service (compared to Chick-fil-A
@@JohnS-er7jh don’t you dear talk about McDonald’s like that. McDonald’s raised me. I would be nothing without the golden arch 🍟🍔
I can tell these restaurant people why they are so successful….the foor is consistent, good and REAL.
⭐Summary: (1) Keep cost low for customers (2) pay employees well (3) keep things simple
Thanks. KFC decades ago, In-and-Out Burgers.
How about the profit how to maintain all this you have to think about it
Chick-Fil-A is not cheap. It does not keep customer cost low.
Just pay the employees with customer contact well.
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 ...
Hunh?
Which fast food chain isn't cleanm serveing tasty food fast, with its staff totally grinning at you?
None. That's the baseline quality of all American food chains.
@@TheDavidlloydjonesMcDs doesn’t have tasty burgers which are their main thing lol
Maybe where you are ... the majority of mine are dirty, angry, and slow ...@@TheDavidlloydjones
make sure you guys read ingredients before consuming things, america thrives in making us sick.. that simple chicken sandwich has over 50 ingredients in it, that blew my mind & i havent eaten it since
Nah, there's an ideological reason for the success as well.
# · 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%.
Thank you!!
Thank you
I have to admit, I felt a strange satisfaction seeing Starbucks close on Canal Street in New Orleans. For those who aren’t familiar, Canal is a major hub for businesses here-and seeing a local coffee shop take its place felt like a small victory for the soul of the city. It’s refreshing to see local businesses reclaiming their space in a world dominated by chains!
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 would love to see VF Corporation
@@bertrandpiredda8598 good suggestion
WSJ would make no money promoting those companies.
I visited Bed, Bath and Beyond at both their new locations at College and Yonge in Toronto, the below-ground trial and the huge above-ground when the flashy new building opened, when they were new. They looked totally clueless: utterly routine product that you could buy anywhere -- half a dozen large trusted companies within a ten minute walk -- at simply inane sky-high prices.
I was the only person in the place both times. not even any visible staff, and I saw exactly nothing I was tempted to buy. I bought new pillows and pillow-cases recently, at their competitor in the building next door.
Sears has not been a department store for a generation: I don't know when the switch happened, but they saw the writing on the wall and converted themselves into a landlord for individual businesses which disguised themselves as Sears departments. I.e., where Sears once sold pillows, now there would be an eager small investor running her, often a young lady, own pillow stand. That looks like a good idea to me, and it may have been. One problem is, they were constrained to working in their own old, usually multi-storey, building, while an investor who thought, say, pillows were a good venture had the choice of going anywhere. I dunno.
Seriously guys? The writing is on the wall...
Amazon. Walmart, same day delivery, refund before return, everything on earth available at a click, remote work/high gas prices that translates right along with the dying off retail big box world in general. Even the now revamped target that almost collapsed, and at one point could have bought amazon, is doing great. I could do a novel on all this but the data is out there.
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!!
"All breathing, existing, living, sentient creatures should not be slain, nor treated with violence, nor abused, nor tormented, nor driven away."
- Mahavira, Jaina Sutra: Acharanga and Kalpa Sutra
@@DeepValueOptionsnom nom
@@Bobin10101 Killing animals, destroying life just for food, while science is absolutely in a position to provide you with vegetarian food, with all the necessary ingredients for our health, for your mind, is simply stupid
-Osho
Indeed. They do it by being nice (or at least nicer) to their workers.
I’m a former employee, it’s the training. You have to act that way or you don’t work there since the customer service by employees is part of their brand.
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
"All breathing, existing, living, sentient creatures should not be slain, nor treated with violence, nor abused, nor tormented, nor driven away."
- Mahavira, Jaina Sutra: Acharanga and Kalpa Sutra
Yeah this is true because I freaking hate trying to go out Monday Tuesday or even Wednesday and not eating at my fav local food joints because they're closed. It's VERY easy to see whom is closed on Monday nearby and just trying to open the kitchen only maybe only the owner can do this tryout and see how it goes. Maybe just carryout and delivery without having to turn on all the a/c the plasma tvs and cleaning afterwards. You know just a test and if anything just have a few sittings outside to see how many people would eat outside vs asking for takeout. Oh and mind you I usually eat outdoors already in those food trucks even in the carribean island weather in summer so. Maybe look at the businesses nearby, hand out your exclusive Monday to Wednesday menu, have a points program to those who come by these days and such.
I mean, in your case opening Mondays is great! I mean it for those guys who don't but they open thus-Sunday making even harder to compete with all the fast food chains nearby pricing and on top of it with other food trucks n such.
they should show this doc in all high school Economics classes. Very informative. I'll be waiting on more episodes.
Agreed
lol what part of this would be educational for a high schooler
"All breathing, existing, living, sentient creatures should not be slain, nor treated with violence, nor abused, nor tormented, nor driven away."
- Mahavira, Jaina Sutra: Acharanga and Kalpa Sutra
@@jayjyaI’m watching this video for my economics class right now…
@@madisonchristian1798 That doesn't answer the question though.
So funny about the customer connection with workers. My local Starbucks worker noticed when my brakes finally got fixed! It tickled me the entire day that she notice. definitely made me smile!
Lol they'll probably do the same to me
Amazing content! I have been following your videos for some time now. I've been working on scaling my business for two years and have seen some great progress. Currently, I'm facing some challenges and wondering if there are any short-term opportunities I can explore to help me scale further.
I believe the safest approach is to diversify your investments. By spreading your funds across different asset classes like bonds, real estate, and international stocks than putting all your in one. If your financial understanding is lacking, see a financial consultant.
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 750K net from all of my holdings.
This is definitely worth considering! Do you have any recommendations for professionals or advisors I could speak with? I really need help with proper portfolio allocation.
The advisor am currently working with is Judith Lynn Staufer. I came across her in a Bloomberg interview for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look her up.
I found her profile online and reviewed her credentials. She has a lot of relevant experience. Thanks for sharing her information! I've already sent her an email to get in touch.
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 😂
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.
Exactly, Dollar General has deals with many brands to make special sizes just for them which look similar in size to the same brands sold in grocery stores, but are in fact smaller/lighter. They are correctly labeled with their actual weight so they're not *LEGALLY* misleading, but they walk right up to the line to confuse consumers. Dollar General also doesn't just open stores in rural areas, they focus on food deserts, so there are plenty of poor urban and suburban areas with several Dollar Generals. Dollar General also just lost a class-action lawsuit over mislabeling prices, where prices at the register were higher than on the shelves, and had been doing so for several years
I have always said that. They get you with the packaging. You have to watch the quantity of that product. It’s a 1.00 true but how much of the item are you getting for that dollar. No often it’s not cheaper. It’s only made to appear that way
Right??
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.
That's great, but their sandwiches are just way too salty. If they can cut down on the salt, I would be happy to return.
@@charlesgallagher8450you’re definitely the exception
@@charlesgallagher8450you can always get a grilled sandwich or one of the salads. Fried food is always going to be super salty
I think its great that Chick-fil-A is closed on Sundays... food service is a tough and important job in our society so its great that these employees have at least one weekend day off per week.
This channel has become one of my favorite things to listen to while working, thanks to everyone involved!
This random video the algorithim brought me was more entertaining and informative than i expected🤓
It's wsj, not some unqualified guy throwing together a video. Ofc it's going to be pretty refined and thorough. Also, since you're commenting, you have a yt account. One which tailors suggestions based on what you've engaged with in the past. It's hardly a random process.
I don't mean to come off as condescending, it's just that certain phenomena aren't nearly as mysterious as some would believe, and looked at in a certain way, are almost entirely probable and predictable.
For instance, some would call running into an old friend you haven't seen in yrs 'random'. But, how many people live in your town that you know, and how many strangers do you see on a typical day? You're bound to run into an old friend eventually, it's not weird in the slightest, and could even be calculated statistically. If you picked a name out of a hat and said "I'll see them tmo at 2:18pm at the corner of x and y street", then it happened, now that would be noteworthy. Even that would be nothing more than coincidence (albeit an amazing one) that the odds of could be figured out.
But yea, it was a good vid tho 😂 sorry for the rant.
@@ctdieselnutbro
WSJ - I absolutely love this long form, very detailed content from you guys. This is kind of going with the long form format that many TH-camrs do and I am a big fan of it. I read articles as well but this was just a super interesting, detailed look at these business models. Would love to see more content like this from WSJ
Where u from man?
2 REPLIES
Nobody cares about your bot remark
@@mxm5757 Why is it bot??
pretty sure this is just a compilation lol
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.
Costco is similar to IKEA in the way that the more you wander, the more stuff you would end up purchasing.
So in other words, the pandemic was great for big, corporate businesses; but horrible for the mom and pop shops.
Not necessarily. I worked for a mom n pop restaurant and during the pandemic we were able to open 2 more stores while tripling sales.
Reading the comment above, maybe conditions favored larger corporations in proportion to mom and pops who expanded. I will say big corporations benefited the most. Especially from PPP lol
I used to think chick-fil-a was all hype till I tried it. Their simple chicken sandwich is soooooo delicious! Whatever spices they use, just elevates the sandwich. It’s one of my favorite fast food restaurants.
Finally, some insights into the strategies behind major brands. It's about time CEOs and business leaders shared their approaches.
We need more of these WSJ. NEED MORE ECONOMICS OF PUBLIC COMPANIES!🎉
Wonderful to see a positive, God-centered company thrive!
I would like to see one on Walmart, my impression could be false but it seems like they’re in the decline in that their reputation has become this untidy, grimy, cheap place. From potholes in the parking lot, to shopping carts that pull to the left, to items just left in random places all over the store.
I’d use Aldi for reference since they also offer cheap products but they give off the impression of higher quality (in the U.S.) by using warmer lighting, an eco friendly mission, and it really seems they sell to a different crowd of customers as a result.
In Germany atleast it seemed like Aldi was more like a cross between a Kroger and a dollar General though it’s not really fair to compare their stores in Germany to those in the U.S. since Aldi South owns the rights to their international stores whereas the stores in places like Berlin (the one I went to) was owned by Aldi North. What is interesting to note is that Aldi carried over the concept of people at checkout being able to sit down which was everywhere in Germany, they also focus on small selection which allows them to offer more products in a smaller store, another thing common in Germany.
I’m curious what city you’re referring to. Here in California we’re getting quality clothing brands and more newer and modern set ups for the stores. Mass surveillance as usual, but the stores are getting more high-tec with better quality and options than target. It’s changed a lot from the beginning…
Parking lots have been newer. Then again, they’ve been changing all their Walmarts to “super Walmarts”.
@@christianlopez4016 😂Made in China. Keep on paying more for junk.
I hate Wal-Mart! The last time I was in there, a staff member set off an alarm and turned and demanded to see my receipt! I told her no and walked out to never return! They make you use self checkout and then accuse you of theft when you do!
Walmart was so much better in Brooklyn meanwhile Aldi looked like a food bank, never going in there again
0:46 that’s truly impressive considering they’re closed on Sundays and that’s the day that I always crave Chick-fil-A the most 😅
Couldn’t stop watching this. Well made and so interesting.. Great documentary as usual! Well done WSJ, always enjoying watching you.
Although I don’t eat chicken I have to say Chick-fil-A has the most friendliest and welcoming fast food reps!
One thing i can speak on by experience as a former costo employee is costco loves and i mean loves favouritism you wouldn't believe how bad it is until you've worked there and experienced it for yourself.
Tell me more
@@chocolateblended I can tell you so much bosses writing you up for the smallest thing like a customer complaint but not they're favourite employees, bosses letting they're favourite employees goof off and talk with they're friends instead of working but if you're not they're favourite and you say a few words you get told off, bosses giving days off to they're favourite employees who are new and aren't even supposed to have those days off yet but workers who worked they're for so many years ask for those days off and don't get them, favourite employees giving attitude to other workers or even the managers and they don't do anything but if it isn't a favourite that gives attitude they'd be fired on the spot, I can go on and on but what's even worse is some of the employees literally got mental abuse from the managers lots of them even went home in tears that's how bad it is and I know for a fact nothing will ever change.
@darkcheeto3338 thanks for sharing. I have applied for a job there in the past. Glad I got rejected
@@chocolateblended You don't know how lucky you are, the only upside to working for costco is the pay is good in terms of no college needed jobs and because it's costco it has lots of food which is convenient but it's not worth the favouritism and I know it's not the only place with severe favouritism it happens in other jobs way more than the media shows. I'm sure chick fil a and starbucks has some favouritism as well, favouritism is what makes working a nightmare.
Positively a delight to watch. Enjoyed the narratives of each company and hearing from informed persons on the companies position and business.
I love Chick-fil-A growth business model. The idea of growing fast by any means necessary is how you end up with We-Work.
Finally, something from WSJ worth watching
Personally, I do think Chick•fil•a employees do look happier and more cheerful than workers at other fast food chains.
I think they put the kids up front, because their souls have not yet been crushed. They probably make them be fake nice, too. Chickfila is a fake nice company...
all niceness is fake chief. u want them to genuinely enjoy being nice to you as they serve your phat azz chicken for 10.25 an hour 🤣🤣🤣🤡🤡
they're literally told to smile lol
@@CamJames so not because of better salary and benefits?
@@mediterrenean always a plus
I don't if it's just me but i like WSJ's voiceover in their YT videos.
Next time I'd like to see WSJ's more balanced investigation into such "successful" business strategies. E.g.: What are the sources of the companies' products (e.g. coffee beans, wood, etc.)? To what extent do they ensure environmental protection and fair trade practices? How do they dispose of unsold product and non-biodegradable waste? What are their policies on unionization? What are their minimum wages? To what extent do they limit work hours to the effect of denying employees the full, boasted benefits?
I'm impressed with your report! I'm particularly curious about the factors that contributed to the failure of businesses like Sears, other department stores, and newer stores like Bed Bath and Beyond. Can you please provide some insights?
Love this! We can learn so much about business strategies when we look at successful businesses!
Great documentary as usual! Well done WSJ, always enjoying watching you
it is not a documentary. it is an hour long advertisement format.
Chik Fil A does it right, that's for sure. I have never seen a Chik Fil A without a massive line in the drive-thru. I haven't finished the video yet, so I don't know if they mention it, but franchisees are required to work 30 hours per week on location in their store, so they take pride in their stores.
Any company that encourages employees to purchase shares, and financially is willing to help out (like Costco) is always going to do extremely well as the majority of shares are actually owned by the workers and not by billionaire inbred families.
Publix does the same and I agree!
@@allenmobley8444 Publix is not Publicly traded
Idiocracy is true.. we will all go to school at Costco and get married at Costco and live at Costco!
economy is stagnant around the world production is low and limited stock market and interest is harmful earning without producing is not correct we have a free market economy in Turkey small businesses do not pay taxes therefore prices are cheap in muslim countries people are hardworking honest and sincere we are waiting for you for investment thank you
actually there not employees own next to none of the actual voting stock compared to that of private sector billionaires and hedge funds
Chick-fil A sounds like an incredible business model, a real business based on steady growth but with real ethics, not something you could say about any bank or Wall Street listed stock company. In the coming years this is going to play more and more into their favour, it’s a shame I don’t eat processed foods much.
Ethics? What’s ethical about factory farming?
As long as you share their religious values. They don’t cover birth control in their employee health insurance. They do cover Viagra. But sure, real ethics.
propaganda successful 👌
@@craigslist6988 you were clearly not paying attention, I don’t eat fast food period… I don’t even eat in 90% of restaurants because I can cook better at home, so it’s hard to impress me and yes that’s my problem I am happy to live with…
@@Tracertme lol, your reply demonstrates exactly the intelligence I expected after your first comment, amazing
Absolutely fantastic visdeo. Loved this and will be sharing it. The insights are really useful and the long format is powerful. Great stuff.
The BEST Chic fil-A was the original one that opened in Atlanta at Greenbriar Mall and recently closed. Please take that recipe and apply it to your other stores because they are ALL too salty and that one store was perfect! My 84 year old Dad was so disappointed when it closed in May of 2023.
The service doesn’t negate the fact that their food is INCREDIBLY TOXIC.
umm you could also say the way most stuff seen in this video is made in general is toxic!
They should use beef tallow instead of oil, and reduce the other chemicals they may be using.
Such a great doc! You guys should do one for the travel industry! All the airlines (private, Legacy Carriers, LCC, and ULCC), hotels, car rental space, Airbnb, vrbo, etc.
I’m learning from this content from WSJ deliberately elaborated the different types of business models which I’m needing right now as I’m entering into a business venture.
My brother-in-law owns three mcdonalds franchises in our (most populous in the country) city. It's brutal. He went from nyc lawyer to this and I never see him anymore. Brutal job.
Why do people watch other people’s “Costco haul?” “I got bottled water!” Ooooooh!
lol - I was wondering the same thing 😂 💦
Philippines has IKEA's biggest store. It shows blue in your map at 25:43
Costco reminds me of Aldi and Lidl. Small selection of items, products are stored in cartons on the shelves, they have their own brand name, and an extra miselanious isle with always new deals like a grill or clothing. Although they're smaller, they don't move the items just because they can, no membership and the cashiers are faster.
really? i grew up in the US and moved to CZK and I gotta say that I see absolutely zero resemblance between Lidl and Costco
@@blankblank4949What, they aren't both small stores with a minimal number of employees? hehe. Yeah, like saying a housecat and a hippo are the same thing because both are mammals.
Costcos are normally the size of warehouses.
We like the close control the company keeps resulting in high standards and great service to the public. And waaay appreciate the good clean food snd they like and care about their young workers Also you have to respect the company's good life values.🌿
Great video!! Lots of great informative info on all these major companies. Definitely a great watch
Chick-fil-A food and model as an employer and employee customer service has been the best for decades. I was blessed to drive by Truett Cathy’s home in the 90’s &20’s on my way to work. The work ethic Cathy led by example and has done so much for employees and the community. Like many things since 2020/2021 things have changed. I am no longer eating Chick-Fil-A. Their quality of chicken has changed drastically since 2022, it’s not the same and one questions what’s in the chicken from fried to grilled. DAN CATHY COME OUT OF RETIREMENT AND RESCUE THE WONDERFUL RESTAURANT YOUR FATHER STATRED! STICK TO HIS VALUES😇❤️🙏
2020 crushed small businesses while every company named here had massive profit increases
I thought it would be neat to have a small shop, not anymore
The want of consumers never goes away, so where money is short mass production satisfies...
Love Chick-fil-A!
And they love you
Love studying the business models of these different businesses.
In N Out has the best business model / customer experience.
I almost agree with the Costci segment. Unfortunately they had a CEO change and they have raised their prices like every other retailer. A 4 pack of butter was $8.99 now it's $14.99. I have seen price increases throughout the store.
Yes and replacing good food brands with the lesser Kirklands brand!!
"I'm not right-wing or left-wing. I'm the whole chicken." Gold.
Right?!!!!❤
Great documentary as usual! Well done WSJ, always enjoying watching you. Great documentary as usual! Well done WSJ, always enjoying watching you.
You are important enough to ask and you are blessed enough to receive back.
the costco here in the Philippines is SNR which is nice for buying in bulk
Chick-fil-A NEED TO BRING BACK THAT WONDERFUL COLESLAW, which is the BEST ever made in a restaurant. I never liked coleslaw until I tasted their FINELY CHOPPED one. The SECOND best is at LONG JOHN SILVER'S, which is the ONLY reason I go to Long John Silver's drive-thru....just to BUY their COLESLAW to eat with OTHER meals LOL. It's just the best VEGETABLE SIDE DISH to eat with chicken, ESPECIALLY a chicken sandwich, or FRIED meats & ANY Barbecue 😍😁
I just started laughing uncontrollably when the segment about IKEA came on. Never been thank goodness!
I love how Chick-fil-A seen the drive thru working for In-N-Out and adopted the same system.
Sahi hai yaar 4RA pe deposit aur withdraw karna dono easy hai, process bhi fast hai 🏦💸
I know in NC we have voted to ban building Dollar Generals multiple times. They poped up kiterally everywhere a few years ago. Theres probably 4 within 7 mins of my house.
I m regreting already spend a lot of money to real bags.. i m crying really. Super fakes r better than the original..o my my my money...... *gtdupe*
Make a great, inexpensive product and pay your employees well.
Thanks O, we really appreciate your ongoing dedication to us !
Summary: (1) Keep cost low for customers (2) pay employees well (3) keep things simple
Everyone is super genuinely nice at chik -fila. Great service overall . Every store follows the same guidelines
their money making strategy is advertising together in wsj in this video that saves their money
All the reasons listed for Costco success is why I stopped going. I got so tired of trying to find my usual products. I would always have to ask what asle number they moved my stuff to one week from the next. Just wanted to get in and get out but they try to make that as hard a possible. Once Google stopped doing delivery from Costco I cut up my membership.
If you have no self-control you will spend a fortune at Costco
Loving these deep dives
I wore Crocs when I was a pharmacy tech and they were the most comfortable and made my feet hurt the least. They really do help people who are on their feet all day. So I'm team Crocs!
I already own shares of Tattooed Chefs and Kairos Minerals, and I'll buy some Corsair as well. Sure, I don't mind having these equities sit around for a few years, but I'd also like to appreciate short-term profitable investments that could, say, turn $50K into $200K.
Most newbies either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
@@africanboi4542 I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them? It Intrigues me to keep learning
@@selenajack2036 I've worked with a few different financial advisors, but I ultimately chose ELEANOR ANNETTE ECKHAUS because she seems to be very thorough and knowledgeable about the financial market. I have made more profits with her guidance than I ever did when I invested on my own using TH-cam.
@@africanboi4542 Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
How can i get her email I am having hard time locating? @@lucianoboccedi
Thank you to the journalists.
I love a "simple" Menu! Chick fil A is quality and service in every step! I respect closed on sundays
I'm always fascinated by the success stories of these companies. Their unique business strategies offer valuable insights for entrepreneurs and business enthusiasts.
The secret recipe of Chick fil A is monosodium glutamate(MSG), I am surprised they didn't mention it!
Which is a natural additive.
Best best documentaries please please do more
I’m not right wing or left wing I’m whole chicken 👏
Do one of these on H-E-B, the Texan grocery store. That would be fascinating.
Chick fil-a just makes great fast food, that’s the money making strategy
And Chik fil a employees are friendly and actually seem happy to be there.
Just saw Finch is now 4ra's face, bro! Feeling more confident betting there now! ✨
Costco is awesome! I wish they opened a store in my country. You know what they save when they stack things up to the ceiling? Stocking costs!
Thank you so much! I always practice the strategies when I watch your videos, I study them, like I’m studying at the University!
Chick Fil A customer service is the best around. All service industry should adopt this method. The kids working at Popeyes are the worse
Kirkland has been consistently good quality. We switched from BJs to Costco because it is just better. It is pretty noticeable that other people agree because there are more people shopping at Costco than there are at BJs. Alos, Costco's food court is awesome especially in this age of inflation.
I always wondered why cake mixes didn’t require only water.
This is well produced. Enough information to give you an idea about the featured companies, but will compel you as well to make a research about them.
0:00 - Chick-fil-A
8:37 - Costco
14:39 - Starbucks
21:52 - IKEA
27:38 - Crocs
33:50 - Dollar General
39:42 - Sephora
45:55 - Target
52:21 - AirBnb
59:35 - Home Depot
2:20 Chick fil- a is always recommended & best
Kudos to WSJ,
extremely well done as usual.
This documentary is of the finest quality !
From: Pittsburgh Pennsylvania