Word: discounts
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Dates: during 1950-1959
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...corporation and the Dealer Council, to hear any dealer whose contract has been cancelled by a G.M. division. The company is also revising its standards for dealer sales performance, will give more weight to special problems in each dealer's territory. Beyond that, G.M. will increase the price discount given dealers on leftover stocks of cars after the annual model changeover, pay more for local dealer advertising, and boost from 30 to 90 days the time limit on returning unwanted new parts to the factory...
...DISCOUNT HOUSES, now grossing some $7 billion annually, are taking on the trappings as well as the sales of big business. To raise cash for more expansion, New York's fast-growing E. J. Korvette Inc. (eight stores in the metropolitan area, two others abuilding or planned) floated its first public stock issue with 220,000 shares (par value, $1; asking price, $10) of common stock, sold it out to eager investors as soon as the news hit Wall Street...
...leaders of the new mass selling system were the discount houses. They spread across the U.S., hawking everything from canoes to canape trays at 20% to 30% under list price. Their sales soared so high that, while profit margins were small, overall profits were...
...line retailers had scoffed at the discount houses, but 1955 proved that they are here to stay. The big, old stores had to give up old-fashioned ideas of high markups and open up outlying warehouses where customers could pick up goods at cut-rate prices. Even such diehard Fair Traders as W. A. Schaeffer Pen Co. and McGraw Electric's Toastmaster division either abandoned their Fair Trade principles or started backing down. And last week General Electric chopped appliance prices as much as 30% right down the line...
Sheaffer Pen Co. gave up its long fight for price fixing, announced that it would sell to certain "large-volume retail outlets," i.e., discount houses. To police its prices, Sheaffer spent $2 million over the past two years and lopped off some 700 dealers...