Up to the 1990s, raw salmon sushi was not eaten in Japan.
What changed? Norway went on a 10-year marketing campaign to sell Atlantic salmon in the East Asian country. And the plan worked.
Here’s a story 🧵
Traditionally, Japan didn’t eat raw Pacific salmon b/c the fish had parasites.
Meanwhile, in the 1970s, Norway got really good at farming parasite-free Atlantic salmon
However, government subsidies led to over-farming and Norway needed to find a way to get rid of excess salmon.
Japan was a natural market for raw fish but Norway had to overcome a few obstacles:
▫️The stigma of raw salmon
▫️Atlantic salmon has a different color
▫️Atlantic salmon is fattier (which ended up being a good thing)
At the time, the average Japanese person ate 60kg of fish a year (vs. 15kg globally).
Historically, Japan was able to meet its fish demands. But in the 80s, supplies dwindled due to overfishing and Japan was banned from the fishing zones of other countries. It needed imports.
To access the Asian market, the Norwegian government launched a plan called Project Japan in the mid-1980s.
Since advertising Atlantic salmon as “parasite free” wasn’t very inviting, Norway focused its messaging on the country’s “fresh waters”.
Project Japan also included
▫️Serving raw Atlantic salmon at the embassies in Norway
▫️Getting celebrity chefs in Japan to use Atlantic salmon
▫️Partnering with Japanese suppliers
Even with all of Project Japan’s efforts, it took a decade break in.
One deal changed everything.
Norway offered Nichirei — a Japanese frozen food firm — 5000 tons of Atlantic salmon at a big discount.
The deal: Nichirei had to market it as raw sushi (raw commanded premium over fish to be cooked). And that’s when raw salmon sushi became a thing.
Raw salmon consumption first took off in the conveyor belt restaurants. But eventually, salmon sushi went mainstream.
Project Japan costed ~$30m.
The return: Norway went from selling 2 metric tons of salmon to Japan in 1980 to 28,000 metric tons by 1995.
If you enjoyed that, check out my Saturday newsletter on business and tech deep dives. Like salmon, it’s best consumed raw with a dab of wasabi.
To be clear, this thread is about the popularizing of raw Salmon sushi *in Japan*.
While we’re here, shout out to the legend Hidekazu Tojo: he runs a famous Vancouver sushi restaurant of his name and created the California Roll (rice on outside was more appealing for customers).
Tojo also invented the BC roll, Rainbow Roll, Golden roll and Spider Roll.
He’s happy the California Roll became popular but is pretty choked when it’s cheapened with imitation crab instead of real crab.
never forget that episode of “Nathan For You” when he launched a fire detector product and tried to avoid import tariffs by turning it into a music device
One company that has been very good at navigating international food tariffs/regulations is Trader Joe’s. Built its dairy and wine businesses by finding workarounds.
If you are the person that did the un-aligned letters for the previous eBay logo, please contact the research app team. We are huge fans of how un-aligned the “e” is with the “y”.Bearly.AI
This article offers up reasons for popularity of simple font logos (mostly Sans Serif):
— Easier to standardize ads across mediums
— Improves readability (especially on mobile)
— The “brand” matters more than the logo velvetshark.com/why-do-brands-…
Berkshire Hathaway board member Chris Davis once asked Charlie Munger why Costco didn’t drop the membership card.
Let anyone shop and raise prices by 2% (still great value), thus making up for lost membership fees (and more).
Munger said the card is important filter:
▫️“Think about who you’re keeping out [with a membership card]. Think about the cohort that won’t give you their license and their ID and get their picture taken.
Or they aren’t organized enough to do it, or they can’t do the math to realize [the value]…that cohort will have a 100% of your shoplifters and a 100% of your thieves. Now, it’ll also have most of your small tickets.
And that cohort relative to the US population will probably be shrinking as a % of GDP relative to the people that can do the math [on Costco’s value].”▫️
I have a membership but have been guffing on the math for a few years tbh. They keep telling me to upgrade from Gold to Business but I’m too lazy (even if the 2-3% Cash Back on Business pays back after a few trips).
This is a long way of saying Costco’s membership price hike effective today — its first in 7 years — is annoying but when I decide to do the math in a few months, it’ll be worth it.
Anyway, here is something I wrote about Costco’s $9B+ clothing business my affinity for Kirkland-branded socks and Puma gym shirts. readtrung.com/p/costcos-9b-c…
Two notes:
▫️Meant “Executive” (not “Business”) membership
▫️Chris Davis was doing a pure thought experiment. Costco membership obvi high margin (on~$5B a year) and accounts for majority of Costco profits. Retail margin is tiny on ~$230B of annual sales (Costco would need like another $150B+ from letting anyone shop to make up membership profits)