Friday, October 18, 2013

1198. Wegman's lessons

Williamsport, Pennsylvannia

I have not known about Wegmans. Wal Mart is global and I know of its existence. Wegmans in Williamsport, Pennsylvannia is a huge market with food 3x much bigger than any in Singapore. Source locally and supports local produces.  3 children take over the business. It is said to be a 3rd largest and expanding to a 2-storey building in New York, according to one employee selling grapes and apples.

Founder at entrance

Retiree works 4 days/week

Two marketing lessons from this successful businesses are:

1. Charge buffet food by the weight rather than by person. Probably makes more money as people eats more. My tour guide narrated that once had to pay much more out of his pocket as he treated the coach driver to a buffet lunch at Wegmans over his budgetted expenses. The American driver ate a lot and incurred a large cost for him as food is payable by weight, not by person.  Increased expenses for a travel agency by the tour guide mean reduced net profits and so the guide had to pay for his mistake, not the company.

2. Thermal paper to print out the receipt instead of an A4 paper. It is much faster, saves money and save more trees from being cut to make paper. An expense item e.g. one bottle of shampoo is printed in an A4 paper is a waste of resources and money when printed in some vet practices.

Seen on the road, a Wegmans' truck  2-in-1 container saves transport cost

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