Building on this post, I like the point made at the end of the episode.
The experiences are different because Sam’s Club zagged to Costco’s zig.
It makes sense to not replicate what your chief competitor is doing but offer something different and distinct because you’ll appeal to a different segment of consumers.
Find value for your consumers that’s not just being the cheapest product available, because you’re never going to win that race
Give consumers are compelling reason to shop at your store and trust your brand
Sam’s Club has overtaken cult favorite Costco. At least when it comes to happy customers.
It’s done this by focusing on the customer experience.
Technology + convenience + value
Through the tech they’ve created a retail media network that blends seamlessly with the in-store experience.
we didn’t ban noisy aircraft we banned supersonic aircraft
Incentives matter and words matter.
Here, poor word choice disincentivized an entire industry.
Clarity of messaging helps align incentives.
via Alex Tabarrok