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.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Basement stores for thrifty customers

Collection:: Economics Books

BASEMENT STORES FOR THRIFTY CUSTOMERS 95 men’s suits in 30 minutes; 60,000 pairs of men’s, women’s, and children’s shoes at $1 in about 2 weeks; 21,384 pairs of women’s full-fashioned silk stockings in a day; 5,132 women’s hats in a day; and so on through a long list. The prices had to be extraordinarily low in order to make such records. That is just the point. The plan forces low prices, but they are profitable prices. Goods for the basement are bought almost exclusively from stores going out of business or from manufacturers, jobbers, and importers who are overstocked or have a sur- plus. They need the cash, or have overestimated demand, or in some other way have failed to coordinate their manu- facturing and selling programs. The Filene Automatic Bargain Basement is known to be always ready to buy these surpluses if they are desirable from the customer’s standpoint. The basement also deals in seconds. However, it is a hard and fast rule that no seconds shall be carried unless the imperfections are of such a nature that they do not affect the wearing qualities and the service which the article will give. All seconds must be clearly so marked, or, if that is not feasible, the word “seconds” must be displayed on a sign placed on the counter so conspicuously that every cus- tomer will see it. The basement deals also in discontinued styles, which have a great demand from those people who place a greater value upon serviceability at low cost than upon style. When the plan was first announced in 1909, it was inevita- ble that some people would doubt the announced intention of taking the reductions in exactly the manner described. To overcome this doubt, and to make doubly sure of making the reductions, the store offered a cash prize to anybody who would call attention to an instance in which a reduction had not been marked at the time called for by the schedule. A good many of these prizes have been paid. Still, in every instance the error was traceable to oversight, not to any basic flaw in the plan nor to any intention to violate it. So far as is known, not a day has passed since the opening

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