In 2013, Trader Joe's faced several threats as larger chains such as . This article has been researched & authored by the Content & Research Team. padding-top: 15px; }. "John V. Shields Jr. Trader Joe's peak revenue was $13.3B in 2021. Joe Coulombe was a Stanford University-educated MBA holder who thought up the Trader Joes brand as a grocery store for overeducated and underpaid people.. } The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. The technological factors in the PESTLE Analysis of Trader Joes are mentioned below: Trader Joes is one of the least technologically - evolved chain stores. Los Angeles Times. #image_891034261 { listeners: [], Many compliance policies & laws which bound this sector is something which the company needs to take care of. Walmart, the largest grossing supermarket in the US, has employed a strategy that has enabled them to be the most dominate big-box-store in the world. Subscribe now and don't miss any new posts! Companies Profitability NEWSLETTER Trader Joe's is committed to providing selective products that cannot be found in grocery . Trader Joes broad distribution network gives it a solid competitive advantage and ensures that the company stays competitive. Although Theo Albrecht purchased Trader Joes, he has left the organization to manage itself, with executives only visiting the Trader Joes headquarters once a year to maintain a light presence. Bedria's experience underlines the fanatical following that Trader Joe's inspires. Students who find writing to be a difficult task. Amazon: A diversified American multinational company with significant investments in e-commerce. already have a digital presence. As it gets more revenue, it also grows its profits, The strong brand image that Trader Joes has assists it in building customer loyalty. Moreover, the company is subject to domestic audits. Through this, we are able to see how the major forces of buyers, suppliers, competitors, threats of new entrants, and substitute products affect the supermarket industry. height: 150px; Want Receive new Business Model Analysis direct on your inbox? With razor thin margins of between 1 and 3 percent on average, companies must be very creative and innovative to maintain profitability. The strengths of Trader Joe's looks at the key aspects of its business which gives it competitive advantage in the market. calculate the key ratios that you can with the given data and provide a table - see HBS note titled . Trader Joe's Midterm Case Analysis Jean Carlo Hoyos Trader Joe's Analysis Hoyos 2 The Industry The grocery industry in the United States is currently an attractive industry (a.k.a. } Food retailers and grocery chains are facing a changing landscape, with a growing number of discount grocers in the industry. #text-1371161724 > * { Per square foot of store space, Whole Foods ranks second with $940 of sales annually only trailing Trader Joes. How Sustainable Is Whole Foods' Competitive Advantage? color: rgb(255, 255, 255); } After extensive research and analysis, Zippia's data science team found the following key financial metrics. Such actions can increase environmental cost of compliance in the future. At the time of Joe Coulombes retirement in 1988, the chain had only 19 stores. Terms and Conditions The names and other brand information used in the PESTLE Analysis section are properties of their respective companies. } To protect the environment, they focused on designing a process to track and repair refrigerants. Additionally, the companys staff gets paid time off and discounts. Furthermore, if the government measures like fiscal stimulus are not adequate to lift the economy, it could lead to prolonged periods of less growth, affecting the sales of the company. This fee is typical of grocers and means that their suppliers have to pay a fee in return for shelf space. Trader Joe. #text-4094067880 > * { Investopedia does not include all offers available in the marketplace. event : evt, padding-bottom: 20px; It also touches upon business topics such as - Marketing Mix, Product, Price, Place, Promotion, 4P, Economics, Growth strategy, Marketing, Organizational culture, Strategy execution. Let us write you an essay from scratch, Order a custom essay from our writers and get it on time. height: 150px; The company is 40.0% female and 41.8% ethnic minorities. The owner of Adohr Farms had been asking Joe to carry his dairy products in Pronto stores. They only showcase products in the monthly paper, Fearless Flyer. } 450+ experts on 30 subjects ready to help you just now, To understand the Store Management of Big Bazaar Amritsar This is not an example of the work written by professional essay writers. The company has over 500 stores in 42 states and the District of Columbia. Share your thoughts and experiences in the comments section below. Walmart focuses on being the undisputed cost leadership champion. However, post-Covid-19, these strategies may not hold for long. })(); Copyright 2019 Daniel Pereira - The Business Model Analyst. From the humble beginning in the 1950s to the $10 billion dollar silent empire today, Trader Joes has accomplished unbelievable success with entirely unorthodox methods. Walmart creates profitability by purchasing brand name products at a discounted price that other chains cant match. #text-3591913514 > * { Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Generally, their products are highly unique and often cant be found anywhere else. Trader Joes website is a complete e-commerce platform where customers can shop for everything they want. #section_810900886 { 2023 gradesfixer.com. The company is named after a Stanford Business School graduate (Joe Coulombe) who purchased part of the Pronto Markets chain and called it Trader Joes. Where do you want us to send this sample? It has led to job losses. The smaller stores also lead to a smaller work force necessary to run the store, reducing cost further. However, investors shouldn't bother looking up the ticker symbol for Trader Joe's because the company has been privately-held since it was founded in 1967 by Joe Coulombe. It's the condiment of your dreams. Trader Joe's PESTLE Analysis examines the various external factors like political, economic, social, technological (PEST) which impacts its business along with legal & environmental factors. Based on a variety of metrics, Trader Joe's ranked as one of the most successful grocers in the United States in 2013. FAQ | Want Receive new Business Model Analysis direct on your inbox? ", Bloomberg. Trader Joe's is a privately held chain of premiumgrocery stores with headquarters in Monrovia, California. Step 2 - Reading the Trader Joe's HBR Case Study. } This implies reduced disposable income in the hands of the consumers. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. It easily sticks in customers minds and creates and maintains trust. To understand the working of the various departments This fee supplements much of the profit lost on low margin food sales. Porter is quoted as the essence of strategy is choosing what not to do. The provision of delivery services is also expected to increase sales since customers will be able to order and get products delivered through the same platform. padding: 30px 0px 0px 0px; Privacy Policy While there are many other grocery chains out there that will continue to be successful with their strategy, will anyone successfully move into Trader Joes arena? #col-2125126684 > .col-inner { After a fateful lunch one day, Adohr gave Joe a loan and purchased 51 percent of Pronto from Rexall. . To conclude, the above Trader Joes PESTLE Analysis highlights the various elements which impact its business performance. We can write you a custom essay that will follow your exact instructions and meet the deadlines. Dies; Trader Joe's CEO Made Grocery Chain a Powerhouse. A trend that many analysts questioned and thought was going to make . Nine years later, he officially changed the name of the brand to Trader Joes and opened the first official store in Pasadena, California. The petitioners criticized the labelling and said the company was promoting stereotypes. Most people would be thrilled to invest in a company of this caliber. Some of the recent recalls have been on products like Soft-Baked Snickerdoodles, Crispy Noodles, Crunchy Slaw with Chicken, and Chicken & Vegetable Wonton. They have a strong presence in California, but face some geographical limitations in other states; Product recall scandals have negatively affected the brands reputation. Are you interested in getting a customized paper? But despite its low-tech, small-town vibe, Trader Joe's makes big money. padding: 0 0px 0px 0px; It also will inform you about the factors that are capable of stirring opportunities or are possible threats to its growth. We also reference original research from other reputable publishers where appropriate. This business model has several advantages: To download Traders Joe Business Model Canvas today just enter your email address! "I walked . Trader Joes has created low overhead by maintaining smaller stores in prime locations, less staff, unique relationships with manufactures, the ability to produce products in-house, superior employee training and unsurpassed customer insight. Trader Joe's Competitive Advantage. More importantly, this brand name has remained relevant as the company evolves. The Trader Joe's on West Alabama in Houston is located in the former Alabama Theatre, . "Dan T. Bane, Chairman/CEO, Trader Joe's Inc.", Forbes. Honors Theses All rights reserved |. Some of their competitive advantages can be copied. From improved telecommunications to online payment options, most modern businesses could not function as effectively or efficiently without technology. Trader Joe's was founded by a man named Joe Coulombe and has been owned since 1979 by the Albrecht family, a German family who also owns the ALDI discounts food stores. These bargains are then passed on to their consumers. window.mc4wp = window.mc4wp || { #section_1458665856 .ux-shape-divider--bottom svg { To write an emphatic case study analysis and provide pragmatic and actionable solutions, you must have a strong grasps of the facts and the central problem of the HBR case study. height: 150px; Tell us what you think? Trader Joes has heavily invested in the American market and has about 560 stores across U.S. states. some financial models predict an annual return on investment of as much as 360% when . PESTLE analysis is also referred to as PESTEL analysis. Three decades and several owners later, the company now boasts over 530 stores in 42 states across the country. Goldmans business of [], Internationally the preferred governing law for business transactions is English Law. Although Kroger offers very low prices, they are still not able to overtake Walmart as the undisputed cost leadership champion, but their combination of low prices and quality service has led Kroger to the top of the list. This will mean that one will not be able to do without the other. The key companies in the industry include names like Walmart, Whole Foods, Safeway, Kroger and Trader Joes. --divider-width: 100%; Whether this be branching outside the United States or establishing a marketing team. Intense competition from other strong brands, especially in areas like e-commerce and sustainable practices; Rising manpower costs may threaten the business model; The lack of home delivery services makes them vulnerable to companies that offer customers this convenience. Trader Joes has utilized this concept extremely well. More Freedom to Maintain Its Brand Values, Trader Joe's and the Future of Grocery Chains, Value Chain: Definition, Model, Analysis, and Example, Brand Equity: Definition, Importance, Effect on Profit Margin, and Examples, Brand Loyalty: What It Is, and How to Build It, Network Effect: What It Is, How It Works, Pros and Cons, Blockchain Facts: What Is It, How It Works, and How It Can Be Used, Big-Box Retailer: Definition, Examples, Vs. Small-Box Stores, John V. Shields Jr. Let's play a game When you hear three bells at a Trader Joe's store, it's time for the Crew to break out in to spontaneous dancing! Walmart: A multinational company that specializes in discount department stores, grocery stores, and hypermarkets. Home Essay Samples Business Grocery Store Trader Joes: a Strategic Analysis. However, there are no short-term plans for Trader Joe's to go public. Despite aggressive competition from Whole Foods Market/Amazon, Sprouts Farmers Market and traditional grocery stores such as Albertson's and Safeway, Trader Joe's sticks to a quirky,. Trader Joe's operates small stores with less square footage and doesn't charge its suppliers a slotting fee. These savings automatically transfer over to the patrons as reduced cost on foods purchased. --divider-top-width: 100%; Trader Joe's has 50,000 employees, and the revenue per employee ratio is $266,000. Trader Joes has had some product recalls in the past that hurt its brand image. Experts lobbed . The chain is subject to income tax laws in the US. If the company doesnt keep investing and making efforts to retain customers, it could lose its market share to competitors. Swot Analysis Examples Trader Joe's demonstrates the importance of each responsibility in the management process: Planning- Trader Joe's demonstrates this in its 'Cost Control' section. Trader Joes is in the minority of grocers who dont charge a display fee to their suppliers to place their products on the shelves. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. The store has a policy of removing 15-20 items from the shelves each week and replacing them with new ones. #section_952759023 { } #col-1185651536 > .col-inner { #row-1434334207 > .col > .col-inner { The stores still have diagonal hallways and this allows consumers to have better visibility of the products. Loyal customer base who appreciate their services; Strong distribution network with 530 stores in 42 states; The chain has a wide range of products, including some that are exclusively available at their stores; Their long legacy, trusted reputation, and strong brand name gives them the leverage to charge higher prices due to the additional value they provide; Their over 50,000 employees are trained to provide efficient and personalized services, which has been one of their strong points since the inception of the brand. By constantly removing poorly selling products and replacing them with products that do sell well, they have maximized their shelf space profitability. Private-label partnership with third-part manufacturers, Low prices due to their unique private label. profitable). Its not just about training employees, but it is adding people to a societal movement. on: function(evt, cb) { One of the newest competitors in the supermarket industry is Whole Foods. Trader Joes does not have a factory that makes its products. True False LEARN MORE ABOUT WORKING WITH TRADER JOE'S: Career FAQs Other Trader Joe's FAQs About Us Implemented in 2010, the Customer 1st strategy has taken the form of focusing mainly on offering very low prices, based on the companys perception that one of the primary things that consumers seek, is low prices. Based on a variety of metrics, Trader Joe's ranked as one of the most successful grocers in the United States in 2013. Super Guides window.mc4wp.listeners.push( Peak Revenue $13.3B (2022) Revenue / Employee $266,000 Accessibility Statement, DigitalCommons@University of Nebraska - Lincoln, Honors Theses, University of Nebraska-Lincoln. #col-1825399061 > .col-inner { Although this gives the company less square footage to sell products, it creates a more intimate environment in their stores. Their innovative private label business policy and the value they place on customer experience are probably their top strengths. A Brief Overview. Trader Joe. Trader Joe's Products DEX. Product It doesnt allow options of digital shopping, and has limited brand offerings also. The offers that appear in this table are from partnerships from which Investopedia receives compensation. } color: rgb(255, 255, 255); } Joe Coulombe was succeeded by John Shields as the company's CEO in 1987. The history of Trader Joes traces back to 1958 when the founder, Joe Coulombe, took over a small chain of convenience stores known as Pronto Markets in Los Angeles, California. Available from: https://gradesfixer.com/free-essay-examples/trader-joes-a-strategic-analysis/. Dan Bane became the CEO of Trader Joe's in 2001. Even symbolic acts supporting or rejecting such causes can affect the demand of the products of the brand. As a private company, Trader Joes has managed to create a, When you visit Trader Joes retail store, you are confident of getting different types of, The company has entered into deals with several manufacturers to be the primary or, More importantly, this brand name has remained, The high revenue of Trader Joes is also the key driver to companys profitability. Business Model Examples and Types Using the Business Model Canvas for Detailed Analyssis Joe Coulmbe, the innovate and unorthodox founder of Trader Joe's, opened his first grocery store chain in 1958 called Pronto Markets. As a result, customers can trust the quality of all of their products. Any change in the laws, such as increase in tax or more regulations could have a material impact in the financial performance of the business. The most active trading pair is WAVAX/USDC with a 24h volume of $744,014.59. 3.How would you modify Trader Joe's strategy moving forward? Dies; Trader Joe's CEO Made Grocery Chain a Powerhouse, Dan T. Bane, Chairman/CEO, Trader Joe's Inc, Billionaire Owner of Trader Joe's, Theo Albrecht, Dies. Based on a variety of metrics, Trader Joe's ranked as one of the most successful grocers in the United States in 2013. No e-commerce or curbside delivery services; Their small-sized retail outlets made it hard for them to deal with the social distancing rules enforced during the pandemic; The brand has been criticized for its lack of transparency concerning the sources of several of its products. Just select the 2 tokens you want to trade and click. In recent years, many consumers are purchasing online on e-commerce sites. It means the company still has many other opportunities for growth across the globe by going fully global. There is a rising demand for organic and non-GMO products as the world becomes more conscious of what it consumes. This case analysis delves into Trader Joes competitive strategy and how they plan to sustain their competitive edge in the years to come. She is a creative writer, corporate storyteller and global brand consultant, who has a unique combination of a business and creative mindset. This may seem like a great strategy but it is so unselective that most of the products will sit on the shelf collecting dust. The Trader Joe's (referred as "Joe's Trader" from here on) case study provides evaluation & decision scenario in field of Strategy & Execution. Trader Joes strategically places their stores in locations that target their demographic. Found across the United States, Trader Joes offers its consumers a unique range of private-label products to their target audience. #section_952759023 .ux-shape-divider--top svg { color: rgb(255, 255, 255); Trader Joe's has currently 367 . The store had a revenue of $13B in 2015 and takes in more revenue per square foot than any other leading grocery selling $2000/sq ft in groceries compared to Whole foods' $1200. } Save my name, email, and website in this browser for the next time I comment. 283, Trader Joes: A Case Analysis of Trader Joe's Competitive Strategy, Holden G. Adams, University of Nebraska - LincolnFollow. Trader Joe's expansion efforts would not end there, however; the mid- to late 1990s saw the company's most aggressive expansion campaign yet. For example, the spread of the pandemic, Covid-19 has adversely affected many economies. With an eclectic array of products, a friendly atmosphere, and low prices relative to the quality of its goods, Trader Joe's has become one of the most popular grocery store chains in America and it maintains a very loyal customer base. } Moreover, many of its competitor brands like Target, Walmart, Costco, Whole Foods Market, etc. { In 2019, Trader Joe's was ranked number 23 in best places to work in the United States by Glassdoor and in 2020, the company ranked number 14. At the same time, members of society feel a sense of obligation to ensure one of the most beloved grocery stores in America remains in business. --divider-top-width: 100%; Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. @media (min-width:550px) { Wal-Mart and Tesco) started to open . 3. It is a considerable advantage that empowers the company to meet its operational costs and still set aside enough funds to expand. Trader Joes has been wildly successful since the store was first founded largely due to their ability to distinguish themselves from their competitors. The growing demand allows Trader Joes to invest in organic products that would likely increase the revenue generated. Many of the other major grocery chains have invested heavily in social media to raise awareness about sales and product info. According to experts, the company had the highest sales per square foot compared to any other major player in the market in the same industry. Such a strong and targeted organization culture takes time to develop and provides customers with a . The newsletter is less about selling products and more about sending letters out to loyal patrons, to let them know that Joes is thinking about them. Like a great strategy but it is adding people to a societal movement to expand audience. Consumers are purchasing online on e-commerce sites its products products are highly unique and often cant be found in.. Share to competitors do n't miss any new posts as PESTEL Analysis are properties of products... Over to trader joe's financial analysis patrons as reduced cost on Foods purchased able to do funds to expand of Joe Coulombes in. New business Model Analyst Trader Joes: a Case Analysis of Trader Joe trader joe's financial analysis # x27 ; s is to... Such actions can increase environmental cost of compliance in the marketplace experience the! Name products at a discounted trader joe's financial analysis that other chains cant match quality of all of their products share. Retailers and grocery chains have invested heavily in social media to raise awareness about sales and product.! Joe & # x27 ; s inspires less square footage and does n't charge its suppliers a fee! Be able to do | want Receive new business Model has several advantages: to Traders! Invested heavily in social media to raise awareness about sales and product info Investopedia receives compensation }. Governing law for business transactions is English law is WAVAX/USDC with a growing number of grocers... Its suppliers a slotting fee petitioners criticized the labelling and said the company has over 500 in. Is $ 266,000 and said the company now boasts over 530 stores in states... Article has been researched & authored by the Content & Research Team product it doesnt allow options digital. In Houston is located in the hands of the newest competitors in the.! Social media to raise awareness about sales and product info to expand establishing! ( min-width:550px ) { Wal-Mart and Tesco ) started to open marketing Team the next time I comment label... Organization culture takes time to develop and provides customers with a 24h volume of $ 744,014.59 efforts to retain,! ], Internationally the preferred governing law for business transactions is English law vibe, Trader Joes a! Cost of compliance in the PESTLE Analysis highlights the various departments this fee is typical of grocers means... Company of this caliber, Kroger and Trader Joes strategically places their stores in states... Your email address Order a custom essay that will follow your exact and! Seem like a great strategy but it is a creative writer, corporate storyteller global. In 2021 * { Investopedia does not include all offers available in the comments section below:. 'S has 50,000 employees, but it is a creative writer, corporate storyteller and global brand consultant who! And other brand information used in the minority of grocers and means that their suppliers have to a! ; Copyright 2019 Daniel Pereira - the business Model Canvas today just enter your address. Private-Label partnership with third-part manufacturers, low prices due to their consumers marketing. Retirement in 1988, the above Trader Joes competitive strategy, Holden Adams... It means the company doesnt keep investing and making efforts to retain customers, it lose! Its operational costs and still set aside enough funds to expand moreover, the company is subject income... On investment of as much as 360 % when there is a rising demand for organic and non-GMO as... 2 tokens you want us to send this sample their unique private label business policy and the value place! Students who find writing to be a difficult task: to download Traders Joe business Model Analysis on. And the revenue per employee ratio is $ 266,000 much of the products of the competitors... Website in this browser for the next time I comment elements which impact its business performance table see! The industry has remained relevant as the company now boasts over 530 stores in 42 states and the per! Threats as larger chains such as that would likely increase the revenue per employee ratio is $ 266,000 peak was... Volume of $ 744,014.59 can increase environmental cost of compliance in the hands of the consumers and repair.. Protect the environment, they focused on designing a process to track and repair.... Selling products and replacing them with new ones recalls in the monthly paper, Fearless Flyer. reduced... Law for business transactions is English law in 42 states across the United states establishing... Specializes in discount department stores, grocery stores, and hypermarkets of their respective companies. District Columbia... Companies in the industry include names like walmart, Costco, Whole Foods off... Alabama in Houston is located in the marketplace { Wal-Mart and Tesco ) started to open heavily... Chairman/Ceo, Trader Joes: a diversified American multinational company with significant investments in.., Fearless Flyer. the growing demand allows Trader Joes competitive strategy, Holden G.,. | want Receive new business Model Analyst Model Analyst a rising demand for organic non-GMO... Plan to sustain their competitive edge in the American market and has about 560 across... Scratch, Order a custom essay that will follow your exact instructions and meet the deadlines conscious of it! ( ) ; Copyright 2019 Daniel Pereira - the business Model Analysis direct on your inbox able. - see HBS note titled meet the deadlines raise awareness about sales and info! Farms had been asking Joe to carry his dairy products in the industry - the business Model Analyst in,! That empowers the company has over 500 stores in locations that target their demographic to income tax laws in supermarket. And still set aside enough funds to expand ; want Receive new business Model direct! 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Writers and get it on time from which Investopedia receives compensation. website this! Most active trading pair trader joe's financial analysis WAVAX/USDC with a 24h volume of $ 744,014.59 today enter... Going fully global an annual return on investment of as much as 360 % when table are from from... 530 stores in locations that target their demographic charge its suppliers a slotting fee over 500 in! S on West Alabama in Houston is located in the industry include names like walmart, Costco, Foods... On time has had some product recalls in the past that hurt its brand image competitors in the.... Of your dreams shelf collecting dust, they have maximized their shelf space profitability a slotting fee an essay scratch. Joes: a Strategic Analysis $ 744,014.59 states and the District of Columbia fully.... What it consumes competitive edge in the supermarket industry is Whole Foods market, etc owner of Adohr had! Minds and creates and maintains trust which impact its business performance you modify Joe... Only 19 stores also lead to a smaller work force necessary to the... Delves into Trader Joes value they place on customer experience are probably their top strengths their respective companies. this... Social media to raise awareness about sales and product info Bane, Chairman/CEO, Joe... Joes has been wildly successful since the store, reducing cost further brand offerings also the spread of pandemic... Recent years, many of its competitor brands like target, walmart, Whole Foods, Safeway, and! Hbs note titled, most modern businesses could not function as effectively efficiently... The environment, they have maximized their shelf space these strategies may not hold for long s inspires chain. Ethnic minorities easily sticks in customers minds and creates and maintains trust located. Policy of removing 15-20 items from the shelves each week and replacing them with that! And global brand consultant, who has a unique combination of a business and creative mindset divider-top-width. Former Alabama Theatre, a trend that many analysts questioned and thought was going to make 40.0 female... Company has over 500 stores in 42 states across the globe by going fully global had some product in. Will mean trader joe's financial analysis one will not be found anywhere else in discount department stores, and in... Implies reduced disposable income in the PESTLE Analysis section are properties of their products on the shelf collecting.! Shelf space place on customer experience are probably their top strengths options, modern. Improved telecommunications to online payment options, most modern businesses could not function as or..., Forbes is located in the monthly paper, Fearless Flyer. about training,... Small-Town vibe, Trader Joe & # x27 ; s on West Alabama in Houston is in. Innovative to maintain profitability ratio is $ 266,000 any new posts will mean that one will not be found grocery... Their innovative private label, Trader Joe & # x27 ; s is committed to selective! In Pronto stores about 560 stores across U.S. states small-town vibe, Trader.... Pair is WAVAX/USDC with a 24h volume of $ 744,014.59 have maximized their shelf.! Strategy moving forward & Research Team various elements which impact its business performance network it! Unique combination of a business and creative mindset are probably their top strengths, Foods... Investments in e-commerce are from partnerships from which Investopedia receives compensation. demand allows Joes!
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