nickshanagher

A third generation family business, TJ Morris, the company behind Home Bargains is both a success story and an enigma. Well on its way to £1 billion of sales in the UK, it is highly profitable. In 2009 operations director Joe Morris spoke to the FT about its reasons for success: 1. Word of mouth 2. Good products 3. Low prices 4. Honesty 5. Transparency. Its strategy for good products and low prices: 1. Only sell brand names 2. Only sell products it can make a profit on. No loss leaders. 3. Don't confuse shoppers with offers that are here today and gone tomorrow [opposite of Zara!]. 4. Stock changes depending on what can be bought cheaply [manufacturers who overproduce are use TJMorris to get rid of volume.] Run by four brothers. The driver is Tom, who is renowned as a great buyer. "If you buy right you can make money even if the stores are not perfect," says Joe. The shop experience: 1. Is about browsing: let's see what is in there motivation for shopp...