Word: grocerymen
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Dates: during 1960-1969
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...1950s. At that point, the nation's burgeoning supermarkets discovered that they had exhausted their fund of novel merchandising methods and had gone about as far in price competition as solvency allowed (most supermarkets operate on a 3½% profit margin). Looking for a new competitive edge, grocerymen found it in trading stamps. "Women feel guilty about spending their husbands' hard-earned dough for 'extras,' " says one stamp-company executive. "But if a woman gets her hair dryer or new chair with stamps, she can convince herself she's a thrifty shopper." The "extras" most...