Joe Coulombe, born in 1930, established Trader Joe's in 1967 after recognizing changing demographics in America and the impending competition from 7-Eleven. Inspired by a growing number of college-educated consumers, he sought to create a retail store that offered unique products to an 'overeducated and underpaid' demographic rather than just the standard groceries offered by convenience stores. His first location opened in Pasadena, California, introducing a niche market concept that emphasized appealing selections over mere convenience.
Coulombe decided to cater to the group - the "overeducated and underpaid," as he described them - by offering something more niche than the basics available.
Coulombe learned in 1965 that more Americans were going to college, which he believed would change shopping habits, leading to the founding of Trader Joe's.
With the specter of 7-Eleven looming, Coulombe had to try something different, leading to the unique concept of Trader Joe's in 1967.
Coulombe's knowledge of shifting demographics due to the GI Bill influenced his strategy to launch a grocery chain that catered to a new class of consumers.
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