Most big shopkeepers admit that a "loss leader" is sometimes good business. Customers attracted to a store by the cut-rate price of one product linger to buy other products on which the store can make a profit. But "loss leaders" become a large hole in the profit bucket when customers throng a store to buy only the "loss leader" and nothing else. Forcefully last week was this axiom brought home to scores of cut-rate storekeepers in Los Angeles, home of some of the fiercest price wars in the U. S.
Under NRA, shopkeepers were...
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