Embracing the Difficulties as Part of Our Growth
During our Annual Meeting last December, we reflected on a successful fiscal year 2023-2024. However, that was a six-month-old story at the time. For those unfamiliar, our fiscal year runs from July 1, 2023, to June 30, 2024. In the dynamic world of business, circumstances can change rapidly due to various factors. One significant challenge we’ve faced in recent months has been a decline in foot traffic, which we are actively working to rebuild. On average, we are down about seven hundred
transactions per week.
On a brighter note, our average transaction value remains robust, indicating that our shoppers are willing to invest in the quality services the co-op has to offer. We are excited to see a growing number of new members, and many joining us from various states, enriching our vibrant community.
The supply chain continues to be a hurdle; delays in receiving items can frustrate customers and potentially impact their loyalty, which in turn affects our overall sales. Yet, amidst these challenges, we are witnessing steady improvements in departments that were previously affected by lower sales.
Our commitment to enhancing the customer experience is a priority to us. We are focusing on refining our customer service, public relations strategies, staff training and development, and fostering stronger interactions among community members, board members, and staff. Additionally, we are exploring the implementation of an online ordering service to boost our sales per labor hour and elevate the member experience.
Union Contract Renegotiation
Last week marked a significant milestone as we successfully renegotiated the Union Contract with UFCW Local 1995. This achievement lays the groundwork for a stronger relationship moving forward. The renewed contract, effective for the next three years, offers improved benefits across the board, including enhanced yearly raises, increased Paid Time Off hours, Paid Sick Days, an additional Paid Holiday, and all the other benefits detailed in our TRM Employee Manual: Wellness Benefit, Birthday Bonus, 20% Staff Discount, Food Loans, Retirement Plan, Alternative Commuting Benefits, Health Insurance, Supplemental Insurance, Employee Assistance Program, and Wage Advances.
Together, we are dedicated to improving our staff’s quality of life and supporting their growth at Three RIvers Market, ensuring their overall well-being.
Grateful for everything,
Fadi Aboush – General Manager
Three Rivers Market