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.

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VI. Basement stores for thrifty customers

Collection:: Economics Books

BASEMENT STORES FOR THRIFTY CUSTOMERS 99 a really good buy, not a single piece should be marked down. A buyer who has made only a fair purchase will have a few pieces to mark down. But if he makes a very doubtful purchase, he will get a 25 per cent mark-down and the chance for profits vanishes or a 5o per cent mark-down, which, of course, means an appreciable loss. Inevitably, such mis- takes are made occasionally. It might be supposed that a great many people would wait for the mark-downs. They do, if the first price is not a bargain price. But if it is a bargain price, there are enough people who do not wait; and they get the bargains. When the automatic bargain basement was opened, the store faced frankly the possibility that it might not make any money for several months. The first few months it lost thousands of dollars; the public did not as yet thoroughly understand the idea, and the buyers were probably not yet sufficiently expert in buying automatic basement bargains. Subsequently, the basement business yielded a satisfactory rate of profit on a volume running into many millions of dollars a year. This was accomplished only because the store gained people’s confidence by doing exactly what was promised. The automatic bargain basement store is to all intents and purposes an almost entirely separate store. To sum up, the striking features of it are these: 1. Prices are reduced automatically and drastically at stated fixed intervals. 2. Buyers are forced to find and sell only real bargains. 3. By eliminating all unnecessary costs of doing business, the savings that accrue from advantageous buying are kept for customers. 4. The store attains a very rapid rate of turnover, with all the benefits which that brings. 5. Goods are carried in all price ranges, provided that at the price offered they are bargains. 6. There is no guarantee that stocks will be full in all sizes and styles; the goods are not on hand at all unless the buyers can obtain them at prices which will make them bar- gains for customers.

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