Word: retailing
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Dates: during 1960-1969
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Underlying the industry's optimism are such changes in the U.S. economy as automation, high labor costs and increased leisure time. All have spurred an increase in money-in-the-slot automatic retail selling. Machines now dispense 15% of the nation's cigarettes. Last year vending machines sold 2 billion cups of coffee, 20% of the nation's candy bars and soft drinks. More than 4,000,000 robot vendors offer everything from onion soup and insurance to a spray of French perfume or a 30-second sniff of oxygen to ease hangovers. And if the coffee...
Universal expects its growth to continue, thanks to a paper-money-changing machine which it will be ready to field test in July. The machine, which will open new retail sales outlets for vending, changes bills up to $5, will be improved to change $10 and $20 bills by year's end. Universal is currently installing a machine for Manhattan's Macy's that will sell undershirts and shorts, change up to $9.90 in coins and bills...
FEDERAL FAIR-TRADE BILL, which would allow manufacturers to set minimum retail prices for their products anywhere in U.S., was tabled by the House Rules Committee, thus killing it for this session...
Buoyed up by the approach of Easter and an easing of the nation's worst weather in years, retail sales are riding high across the U.S. Department store sales for the last week reported were 22% above the corresponding week a year ago. Adjusted to fit the pre-Easter sales pattern (Easter this year is three weeks later than last), the figure is still 8% above the comparable 1959 week...
Some other witnesses violently opposed any policing of installment practices. Maintaining that "our credit system is too vital for the Government to tamper with," A. Leonidas Trotta, credit research director of the National Retail Merchants Association, argued that people expect to pay more when they receive the benefits of installment buying. Said he: "To give them too much information about financing costs would only befuddle them...