The model stock plan

Bibliographic data

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.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Basement stores for thrifty customers

Collection:: Economics Books

04 THE MODEL STOCK PLAN This, strange as it may seem, is a reputation not enjoyed by many stores. The store which has the reputation has more of these extraordinary lots offered it before they are offered to anyone else. Keeping goods in reserve stocks to avoid taking mark- downs is abuse not use of the automatic bargain basement plan. Moreover, holding back goods in reserve stocks does not even temporarily increase profits, for then it is inevitable that an attempt is made to supply the drawing power— which should come from the goods—by bigger advertising of special bargains, which is hurtful. This is always a danger, and it must be guarded against. Experience has shown that the temptation is often too great when an immediate profit is in sight. Successful men all have the natural urge to “improve” plans and processes. This is, of course, good—provided the improvement is based on a thorough study of the plans and processes to be improved and not a concession made at the expense of goodwill, long- time profit, and the ultimate success of the plan for the sake of a much smaller immediate profit. When a merchant establishes an automatic bargain base- ment and is strong enough to carry out the basic principles unflinchingly, he inevitably sells a large volume of goods. Thus he eventually gets his overhead and other expenses very low as compared with his competitors. In consequence, he will finally be able to do business in the basement store at much less than the rate of expense prevailing among his competitors. To give concrete instances of the results that may be attained under the automatic bargain basement plan— and to study its workings in some detail—let us look at some facts from the automatic bargain basement of the Filene store in Boston. In no other place that I know of is a larger volume of business (over $10,000,000) done in the same amount of retail selling area (45,683 square feet). The rate of turnover has been extraordinary. Countless instances are on record: 275 fur coats ($12,500) were sold in about 10 minutes; 470

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