“For us, our most important stakeholder is not our stockholders, it is our customers. We’re in business to serve the needs and desires of our core customer base.”–John Mackey
In November, Arthur T. Demoulas went to battle with the Board to ensure that the Associates of this company were looked after and ensured that we were all made whole with our bonuses and our profit sharing. Now, he is doing the same 4 our customers by initiating a program where all will have 4% taken off their final bill at the register.
Let’s think about this 4 a second. Currently, a consumer saves an average of 22% over our competition just by shopping with us, (clicking on the link brings you to Consumer Checkbook, an independent consumer watch group) which means that for 2014 that number will be closer to 30%! The average family of 4 that shops regularly with us will spend, conservatively, around $10,000 yearly…so the average family of 4 will save an additional $400 this year on top of the $1700 they already save by being Market Basket consumers, thats a comes out to a savings of $2,100 for the year just by shopping at Market Basket. This additional 4% is like getting two weeks of grocery shopping 4 free!
The skeptics among us might think that we will simply raise prices to offset things. Totally legit to think this way…but it’s not going to happen. Marching orders have been given to all buyers and all departments to hold prices and that they will be watched very closely to ensure that they comply.
This promotion is a total WIN 4 the stakeholders known as our customers!
This is simply an investment in our business and it’s future. We normally invest in new locations, remodels and major renovations to keep our business moving forward. This is another way of investing in our future and the Market Basket brand, the amount this will cost is roughly the same as it would in a normal year with capital improvements, unfortunately the Board has restricted the growth of our new stores.
So here’s to you loyal customer. This one’s 4 you!