Word: waldbaum
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Dates: during 1965-1965
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...since. They proved to be remarkable promotions for the grocers who offered them first; they more than made up in increased business for the 2% of gross sales that they cost. As more stores stocked stamps, however, the competitive advantage vanished-while the fixed cost of stamps remained. Says Waldbaum's Supermarkets President Ira Waldbaum, whose 62 New York stores, along with the 100-store Daitch-Shopwell Supermarkets, dropped stamps last month: "We found that the cost of stamps was becoming an excessive burden and they were not as competitive as a few years ago." New York...
Before it canceled, Waldbaum's carefully surveyed customer preference; it says that only 4% definitely wanted stamps. Grocers in general have discovered that shoppers are more sophisticated and more mobile than they were a generation ago; housewives now scout all food prices, use their cars and convenient parking facilities to move from store to store for selected items. Many housewives who formerly shopped only at one supermarket now divide their weekly grocery budgets among several. Like the earlier competitive advantages of newer stores, broader product variety or better parking, trading stamps have ceased to be a decisive lure. This...
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