Let's be honest — all of us at least once bought things on sale. You went to self-service shops, bought goods with a red price tag. And who came up with such a popular marketing move?
In the 19th century, a farmer from the suburbs of Lancaster named Frank Winfield Woolworth got tired of working all day long in the garden, going to the market, and decided to conquer the big city. Having no education, Frank got a job in a small shop. Shyness prevented the young man communicating with customers and especially offering goods. The owner of the store was extremely dissatisfied with Frank`s work and warned him: "If there is no revenue, look for another job!"
One day Frank came to the store an hour before the opening and attached to all the goods for which it was possible to make a discount, a piece of paper on which the minimum price was written. Having folded all the goods on the table at the window, securing a sign with the inscription: "All five cents", he opened the store and waited for customers. Buyers noticed this offer, went to the store and not haggling took necessary goods. Store revenue for one day was equal to a weekly profit.
Inspired by success, twenty-year-old Frank resigned, borrowed money from his father and opened his store. In one year, a farmer from Pennsylvania earned one million dollars. The difference of the store was the opportunity to buy goods on sale, and also to freely touch the goods, compare them with other, without feeling the pressure of a seller. It was Frank Woolworth who came up with a self-service system that we all like so much.
After a year, there appeared 10 Woolworth`s stores which pecularity was the presence of the stand with goods for the price of 5 cents. In 1886, there was a chain of stores "Five Cent Market", which consisted of 59 stores across America.
Despite the fact that sales initially appeared solely as a marketing tool to attract buyers, today millions of people around the world annually save their money through sales and discounts.