Discounting... what it is...
how it operates...
does it have a future?
REVOLUTION IN RETAILING
ANOTHER "SHOT HEARD AROUND THE WORLD" WAS FIRED in MaSSa-
- chusetts in April, 1961. The setting this time was Amherst rather
than Concord, and the world affected was the world of retailing. While
it is generally agreed that this revolution in retailing began several
years ago, it was only when over 500 enthusiastic, inquiring discount
house operators stormed into Amherst to attend a discount seminar
sponsored by the University of Massachusetts that the real impact of
this revolution was recognized. Strangely enough, the more optimistic
University of Massachusetts officials estimated attendance for the conference
at only 75. Furthermore, attendees were expected only from
the New England states. Instead, over 500 discounters were on hand
from as far away as Florida, California, and Canada!
As a result of the enthusiasm shown at the University of Massachusetts
conference, a second discounting conference was held in New
York City in August, 1961. Over 1,300 people representing food
chains, drug chains, variety chains, and department stores in addition
to discount houses attended this one. The fact that so many forms of
12 THE QUARTERLY