Trader Joe’s readies new Florida store

Trader Joe’s plans to open its newest Florida location on Thursday in Lakewood Ranch, a master planned community about 10 miles northeast of Sarasota.

The store is scheduled to open at 8 a.m. at 8111 Cooper Creek Blvd. in The Shoppes at University Town Center development.

The 12,000-square-foot store will employ 40 people and will ­feature interior artwork that celebrates nearby parks, schools, wildlife and local activities, according to local reports.

Lakewood Ranch is made up of more than two dozen villages with a variety of amenities, including golf courses, 55-plus housing, walking trails and more. Eight of the community’s neighborhood plazas are anchored by Publix Super Markets, according to its website.

It will be the first Trader Joe’s location in Manatee County. The grocer operates a store in Sarasota, as well as in more than 20 other Florida cities.

Trader Joe’s is also expected to open a new store in Forest Hills, New York, before the end of the year, according to its website.

Trader Joe’s, with its differentiated assortment of private-label products, “has emerged as one of the breakthrough stories in retail in 2023,” according to a report last month by foot traffic data firm Placer.ai.

The Monrovia, California-based retailer, which has more than 500 locations, averages up to three times as many visits per square foot compared to conventional grocers, the report found, even though a typical Trader Joe’s, at about 15,000 square feet, is about a quarter the size of a traditional supermarket.

While visit frequency has fallen this year for most grocers, it remains strong at Trader Joe’s. Near-constant product innovation keeps shoppers of all income levels coming back, the report found.

“Thus far, we’ve seen visit frequency start to inflect in 2023, suggesting that Trader Joe’s customers are becoming more loyal,” Placer.ai said. “This should serve the chain well as it continues to expand into new markets.”