Leftovers from the Category Killers BBBT
While prepping for the recently held Business Blog Book Tour VI for Category Killers, I asked Robert Spector (the author) which ‘killer categories’ were ripe to become the next category killers. Besides mentioning Metal Supermarket and Lightbulbs Unlimited, Spector mentioned the Container Store, a Dallas-based privately held company specializing in boxes, bins, and everything in-between to help consumers organize all their stuff.
Recently, The Dallas Morning News ran a profile (reg. req’d) on The Container Store and how they are experiencing tremendous sales success with their 14-month old Manhattan location.
According to the article, this Container Store, located in the Chelsea neighborhood, is generating 2½ times the sales of its next highest grossing location. And if that doesn’t impress you, then maybe the fact the store is producing $1,100 in sales per square foot will. It’s no wonder the Container Store will be opening up a second Manhattan location in March 2006.
The Container Store is a prototypical JumboShrimp company because they have gotten bigger by being smaller. As with all JumboShrimp companies, The Container Store isn’t trying to become the biggest storage/organization retailer … they are trying to become the best.
In its quest to become the best, The Container Store relentlessly cultivates a company culture where employees are inspired to go above and beyond in delivering great customer service. Nearly every product sold at The Container Store can be found at other category killers like Bed, Bath & Beyond, Linen & Things, and Storables. These companies can replicate the products The Container Store sells, but they can’t replicate the people that sell the products to customers.
JumboShrimp companies, like the Container Store, recognize competitors can replicate products, but they can’t replicate people.
For the last six years, The Container Store has been named by FORTUNE magazine as being one of the “100 Best Companies to Work For” ranking in the top five in five of the last six years. That's remarkable. In a press release, The Container Store’s CEO/President, Kip Tindell, summed up their employee-first focus by saying,
"We know that our unbelievably great people are the reason behind The Container Store's success over the past 27 years and the FORTUNE honor is just one indicator that they feel trust and pride in the company – something that I'm very proud of. Each day, we're committed to making The Container Store an even better place to work – more training, benefits, communication, empowerment, FUN – it's a never-ending journey."
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