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 o¢7 rack. An ordinary store demands the correct assortment of sizes and pays the price. The Filene basement takes what sizes there are and gets bargains. It does not have regular stocks; it has bargain merchandise and just whatever it may happen to have. A customer may get an article today and not be able to duplicate it at the price, or at any price, in the basement tomorrow. It is the regular experience to have a whole stock of goods disappear off the selling floor, sold, within a few minutes after they are placed on sale. Customers are always waiting outside each basement door before the store opens to get first choice of some new lot. One morning very recently an executive for his own amusement timed a rush on a good- sized stock of fur coats. Within three: minutes after the doors were opened, the racks were bare. And within five more minutes a group of porters was removing the racks and bringing in “bargain squares,” flat tables, full of an entirely different class of merchandise to make profitable use of the space for the rest of the day. In fact, porters are continuously during store hours expanding one selling area and bringing new goods of a wholly different sort to take the place of some stock that has disappeared as if by magic. When the basement opened, it was planned that it might serve in part as a clearing house for mark-down lots from the upstairs departments. Such lots do come to the basement at intervals, but they form less than 1 per cent of the total merchandise disposed of there. Here is an important point to remember about the auto- matic bargain basement, namely, if the rules are observed, unless the first price made is a real bargain price, the auto- matic reductions come along in 12 days and cause heavy losses. That works in two ways: first, it benefits customers; second, it benefits the store. It insures correct bargain prices, and it guarantees the right kind of buying. If the buyers are not wise enough to get what the people want at the low prices they want to pay in the bargain base- ment, then the goods are quickly and regularly marked down until customers do get them at the prices they want to pay.

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