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There are plenty of reasons Trader Joe’s has managed to amass a dedicated following among its legion of loyal customers. That includes the relatively modest prices it offers on most of its products, but one of its most iconic deals is no more thanks to the bananas that have fallen victim to inflation.
I think most experienced Trader Joe’s shoppers would agree the primary appeal of the popular chain is the prepackaged foods and frozen items that comprise the bulk of its inventory. The store does offer plenty of more traditional grocery staples, but its produce has a reputation for leaving a bit to be desired—with the notable exception of one of its signature offers.
You won’t find many grocery stores that don’t sell bananas by the bunch, but Trader Joe’s is a very notable exception to that rule.
In 2018, former CEO Dan Bane detailed the interaction that led to that decision, which transpired when he took a trip to an outpost in Sun City, Arizona and observed an elderly woman taking a lengthy look at prepackaged bananas before ultimately declining to put on in her cart.
When he asked her why she hadn’t pulled the trigger, she told him, ” ‘Sonny, I may not live to that fourth banana,” which led to Bane deciding to sell individual bananas for 19 cents a pop—a price that’s remained unchanged since 2001.
Unfortunately, the good times have officially come to an end, as CNBC reports Trader Joe’s bananas will now set you back a comparatively whopping 23 cents apiece (an approximately 20% price hike), with a representative telling the outlet “We only change our prices when our costs change, and…we’ve now reached a point where this change is necessary.”
I’d like to tell you that you can take solace in knowing Costco is still selling its hot dog and a soda combo for $1.50, although its recently departed CFO hinted there’s a chance that could end up changing in the future—a development that I will personally view as a “canary in the coalmine” moment for humanity as we know it.