The model stock plan

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Monograph

Identifikator:: 1820833348

URN:: urn:nbn:de:zbw-retromon-210730

Document type:: Monograph

Author:: Filene, Edward A. http://d-nb.info/gnd/123562244

Title:: The model stock plan

Place of publication:: New York

Publisher:: McGraw-Hill Book Company

Year of publication:: 1930

Scope:: xiv, 253 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Basement stores for thrifty customers

Collection:: Economics Books

BASEMENT STORES FOR THRIFTY CUSTOMERS 8g In every basement store which I have had a chance to study, it has been without exception true that those organized under scientific planning—which forced the men in charge to use facts instead of opinion in their merchandising—made great successes, selling more and more goods. Basement stores are not intended, of course, primarily for competition with the main store. But when properly organ- ized with their own corps of buyers, they do compete to a greater degree than is often intended or understood by the owners themselves. If such competition is studied and the value of it is realized, then it can be turned into an asset very valuable for the long-pull total net profits of the store. Each part will stimulate the other, and in competition the two parts will do more quickly and definitely and profitably what the outside competitor forces us to do eventually for our store. Time is one of the basic elements of profit in merchandising.} As an illustration of the effect of internal competition, I might quote from the experience of the Filene store in Boston. In its fiscal year 1919 to 1920 the bargain basement men’s clothing department did a business of about a quarter of a million dollars. During that year a building two doors away came into the store’s ownership before it could be utilized for the purpose for which it had been acquired. So it was used temporarily as a bargain annex run on the base- ment plan, with a men’s clothing department. Within a short time the men’s clothing department in the basement more than doubled its sales volume and did a business of over a half-million dollars for the year, while the similar department in the annex (handling the same general type of merchandise) also did a business of a half-million dollars. Advertising a basement store must be along lines somewhat different from advertising the three full lines of a Model Stock. Since the basement is concerned primarily with values and prices, and to a far less extent with complete stocks, the emphasis in the advertising will, of course, be 1 The advantages of internal competition are explained in detail in Chap. XI, p. 161.

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