Sol Price

[Kraven]

Interesting article on Sol Price. He founded Price Club, the precursor to today's big warehouse stores like Costco and Sam's Club. He merged Price Club into Costco in the early 90's.

 

http://news.investors.com/123013-684527-sol-price-pioneered-big-box-retailing.htm?ven=yahoocp,yahoo&src=aurlled&p=4

 

I remember when Price Club had only been around a few years. It was such a revolutionary concept. I remember at the time people used to always say things like who would want to buy an industrial size jar of spaghetti sauce or 3 tubes of toothpaste at one time. Pretty soon everyone wanted to. My dad used to go all the time. He was a big Tab drinker and cases of Tab would be stacked in the garage. At the time Price Club was the only place one could buy that kind of stuff.

 

 

[Phaceliacapital]

You were a kid when Price Club was founded, how old are you? (just kidding)

 

Nice article, some interesting tidbits:

 

 

• "Fortunately, most of us had backgrounds that were alien to retailing," Price recalled. "We didn't know what wouldn't work or what we couldn't do."
  
• The concept of Intelligent Loss of Sales
  

 

Did you ever read the book "Sol Price: Retail Revolutionary and Social Innovator," ?

[Kraven]

You were a kid when Price Club was founded, how old are you? (just kidding)

 

Nice article, some interesting tidbits:

 

 

• "Fortunately, most of us had backgrounds that were alien to retailing," Price recalled. "We didn't know what wouldn't work or what we couldn't do."
  
• The concept of Intelligent Loss of Sales
  

 

Did you ever read the book "Sol Price: Retail Revolutionary and Social Innovator," ?

 

I haven't read the book, but it seems interesting.  Price was a true innovator.

[bookie71]

My wife's engagement ring and wedding band came from the Fedmart in Oklahoma City in 1960.  She picked it out and still wears it.