Word: hotpoint
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Dates: during 1960-1969
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...consumers in the market for "white goods" (refrigerators, washing machines, etc.), the bargains last week were the best in many a moon. Hotpoint was so eager to unload that it had set up carnival-like displays around the nation, was giving away cokes, ice cream and balloons to kids who brought their mothers to the fair (next week, the kids can trade their mothers for space helmets). Whirlpool has cut distributor prices 6% on some refrigerator models. General Electric has stripped trim off other models to sell them as cheaper "economy specials." The industry was hustling as quickly...
Actual industry sales of major appliances are running 4.2% behind those last year, estimates Hotpoint, and that was the second-best year in the industry's history. Main reason for the cutbacks now is excessive dealer inventories. The manufacturers overproduced and the dealers overstocked last fall in anticipation of the steel strike. Now dealers want to reduce their inventories before reordering. Since retail buying is holding up fairly well, most appliance makers expect a pickup in orders the last half of the year as dealer inventories drop...