Batman & Robin Duo: Walmart & Panda Express
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Like a hero and his sidekick, businesses also travel in packs.I recently went to the Career Fair that is put on twice a year by BYU-Idaho, and had a chance to talk with both local and national businesses that were there. One that I spoke with was Panda Express. For a little bit of context, Panda Express has long been a family routine for me. We take special trips to Idaho Falls just to go to Panda Express. We have always wanted Panda to come to Rexburg. A couple of years ago my dad met one of the executives and talked to him about the possibility of bringing Panda to Rexburg, the answer was ... unlikely. So back to the Career Fair. Seeing Panda, naturally I said, "Sure wish we could get a Panda here." The response from the lady at the table was, "We are actually bringing one here. Once the new Walmart is finished we are going to build right next to it." I was both a little surprised and excited.
Now, the new Walmart is a whole other story in itself, but the point that I have been thinking about and focusing on is the nature of the duo. Businesses that row together grow together. One concept that I have studied is how when businesses cluster together (generally those of similar characteristics, such as a bunch of clothing stores together, a bunch of restaurants together, a bunch of hotels together, etc.) it creates more mindshare for all of the businesses as a whole in consumers minds. When I want to go out to eat, I think first of the main clusters where there are a bunch of restaurants. True, customers then have different options and may not choose yours, but it is a much bigger pie, so overall businesses sales tend to do better. Add a superstar business into the mix (like Walmart) that naturally draws thousands of people anyways, and you have a high functioning pod. As you may have already observed, generally most Panda Express restaurants (at least around this area) are located next to a Walmart Supercenter. Now that Rexburg is getting a Supercenter, we are also getting it's sidekick, Panda Express. Thank you to Walmart for bringing us low prices, and Panda Express. |
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