Word: markup
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Frozen & Hammered. Timex has tapped the mass market for watches in much the same way as paperback publishers have for books. When jewelers spurned it because of its low 50% markup (100% for other watches), U.S. Time Sales Vice President Robert E. Mohr, 42, set up displays in drugstores, department stores and cigar stands, featuring a device that dunked a ticking watch into water and banged it with a hammer. The public really began to take notice when Mohr moved the torture test to television, shaking Timexes in automatic paint mixers, freezing them in blocks of ice, and tying them...
...that can be worn more than one season. "Paris sets the trends, but we execute them," says Schwartz. While most Jonathan Logan clothes have junior-sized prices of $14.98 to $29.98, Schwartz also has lines (Butte Knit, Youth Guild, Junior Accent) that retail, after the stores' usual 60% markup...
...that they would come back to buy at the discount price. More and more department stores began to match the discounters penny for penny on such competitive items as refrigerators, television sets, transistor radios and toys, using them as loss leaders and making up the difference on other high markup items -notably clothing...
...Foot Race. While department stores throughout the land work on an average price markup of 36%, Korvette's prospers at 21%. How does Ferkauf do it? Self-service makes for fewer employees and lower wage costs: each Korvette employee accounts for an average $38,000 in business a year, nearly twice the average for big conventional stores. Employee markdowns are rare, and executive expense accounts (except for Ferkauf's $10,000) are painfully austere. If customers want alterations or home delivery of portable goods, they pay for it. (Credit is free because it more than pays...
...Favor." Though the low-markup, high-volume formula seems simple, it requires an artful balance of costs, prices and presentation. Ferkauf believes that "a store is like a theatrical production. The setting is vital in soft goods. We had to learn the hard way." Presiding over the presentation, and pursuing his goals of neatness and taste in a volume operation, Ferkauf spends most of his working days in an endless trek from one store to another, sparking The Boys to do just a little bit better...