A no-frills or no frills service or product is one for which the non-essential features have been removed to keep the price low. The term "frills" refers to a style of fabric decoration. Something offered to customers for no additional charge may be designated as a "frill" - for example, free drinks on airline journeys, or a radio installed in a rental car. No-frills businesses operate on the principle that by removing luxurious additions, customers may be offered lower prices. Common products and services for which no-frills brands exist include budget airlines, supermarkets and pre-owned vehicles. No-frills supermarkets are recognisable by their store business model, they do not decorate aisles and sometimes do not fill shelves. In this case, pallets of the products on offer are parked alongside the aisles, customers picking up products will empty them; when all items on a pallet have been sold, they are replaced. Prices are given on plain labels. Queueing at the checkout is common, as staffing levels reflect average demand rather than peak demand.
At actual peak times, customers have to wait. Shopping bags are charged for, thus many shoppers bring reusable shopping bags, buy shopping bags at a low fee, put their shopping in the cardboard boxes that the products came in, or put it directly in their shopping cart. They somewhat employ the Pareto principle when choosing which goods to offer, meaning that in most supermarkets, 20% of products on sale account for 80% of what customers buy. Therefore, they only stock the most sold products, they only take debit cards. They only open at peak times, e.g. 9 a.m. to 6 p.m. Monday to Saturday, although some stores are open 24 hours, they do not sell branded items, except in the case of special purchases, which are always at a discounted price. Instead, they sell private label products. Products are sold in one size, the best selling size of that product, rather than multiple different sizes of the product; the shopping carts have a coin-operated slot. They lack a butcher shop, bakery or deli counters, thus meat, cold meats are sold precut in chilled vacuum packs.
Unlike regular supermarkets which have separate teams of staff for the shop floor, the back warehouse, doing the cleaning and dealing with the clerical work. No frills supermarkets instead have a single multi-tasking team of workers dealing with all aspects of supermarket work. No in-store background music, although some use satellite radio. Examples of no-frills supermarket chains include: *Dia, Minipreço and Ed are all part of the Dia Group, in turn part of the Carrefour Group. In the United States, a no-frills automobile model has a minimum of convenience equipment, a less powerful engine and spartan trim; these models represent the lowest-priced version of a larger selection of more lavishly equipped and trimmed models of that same car. The less-expensive models are sold with a manual transmission and have a shorter options list. Early 1950s American examples include the Chevrolet 150 and Kaiser-Frazer Henry J; these were larger cars than those produced in the US in the 1940s gasoline rationing period by Crosley, who shut down in 1952.
One of the more famous no-frills cars was the Studebaker Scotsman, on sale from 1957 to 1958. These cars came with a low-grade cloth-trimmed front seat and contained only a driver's side sunvisor, minimal soundproofing, no door armrests and painted trim. Buyers were allowed to buy only a low-cost heater and a few other trim and convenience items from a short options list. During the 1960s and early 1970s, American automakers offered several trim levels of full-sized models, with a price-leading no-frills versions. Examples included the Chevrolet Biscayne, Ford Custom 500, Plymouth Fury I. While ostensibly targeted toward fleet buyers and business customers where luxury is not a concern, these cars were available to private customers. While many of these cars were sold with the standard six-cylinder or basic V-8 engine with the standard three-speed manual transmission, many of these price-leading models were available with the full range of engines and transmissions, including those that were performance-oriented, unlike the no-frills models that had restricted performance options.
Additionally, marketing brochures extolled the virtues of these economy models, pointing out such features as durable and easy-to-care for upholstery with wide color availability, beauty in styling despite minimal exterior trim adornment, features shared with more luxurious models such as suspension and ride quality and transmission availability, standard safety and convenience features -- all available for budget-conscious buyers. By the late 1960s, a vast majority of all price-leading models were built and sold with V-8 engines and automatic transmission, as consumer needs were changing, were being built and sold with luxury comfort and convenience features once seen only on the higher-priced model lines, including air conditioning and power steering. Only a small handful of base model vehicles were sold with the basic six-cylinder/three-speed manual transmission power team and stripped of all options by this time, by the
Sam's West, Inc. is an American chain of membership-only retail warehouse clubs owned and operated by Walmart Inc. founded in 1983 and named after Walmart founder Sam Walton. As of 2012, Sam's Club chain serves 47 million U. S. members and is the 8th largest U. S. retailer. As of January 31, 2019, Sam's Club ranks second in sales volume among warehouse clubs with $57.839 billion in sales behind rival Costco Wholesale. Sam's Club had sales of $57.157 billion in FY 2014. It reported a 0.3% sales increase in 2014, 4.1% in 2013, 8.4% sales increase in 2012. This is higher growth than Walmart U. S. stores, which have not had higher than 2% growth since 2010. Its major competitors are BJ's Wholesale Club; as of January 31, 2019, Sam's Club operates 599 membership warehouse clubs in 44 U. S. states. Alaska, Oregon, Rhode Island and Washington are the only states where Sam's Club does not operate, as is the case for the District of Columbia. Walmart International operates Sam's Club stores in Mexico and China.
It has 163 locations in Mexico, 23 in China.. Walmart Brazil, de-consolidated from Walmart in August 2018 operates Sam's Clubs in Brazil. Locations range in size from 34,000–168,000 sq ft, with an average club size of 134,000 sq ft. There were Sam's Club locations in Canada, six located in Ontario, in which the last location closed in 2009. On January 11, 2018, Sam’s Club announced the permanent closure of select stores. In a number of cases, employees showed up to work and found the doors locked and a notice saying that the store would be soon liquidated. Walmart told Business Insider that 63 Sam’s Club stores would begin liquidating across the country, including in Arizona, Illinois, New York and Texas. According to Business Insider, the Sam's Club closings and plans to convert some stores into e-commerce fulfillment centers as announced in January 2018 are part of Walmart's growing commitment to online retailing that will allow it to better compete with its rival Amazon; the first Sam's Club opened on April 1983, in Midwest City, Oklahoma in the United States.
In 1987, Sam's Club made its first acquisition by purchasing West Monroe, Louisiana-based SuperSaver Wholesale Warehouse Club. The stores were owned by his son John. In 1989, Sam's Club entered New Jersey with a club in Delran in a former Two Guys/Jefferson Ward store; this was Walmart's first expansion into the Northeast. The first Walmart discount store in New Jersey opened in 1991 in Turnersville; the company entered the Pennsylvania market in 1990. In 1993, Walmart acquired PACE Membership Warehouse from Kmart and converted many PACE locations into Sam's Clubs. Sam's Club entered the Canadian market in Ontario in 2003; the latest flagship club opening as of September 13, 2007, was in Arkansas. The largest Sam's Club is located in Pineville, North Carolina with 185,000 sq ft of retail space, an Incredible Universe. On September 24, 2006, Sam's Club received a new logo; the new logo has an updated serif font and features a green and blue diamond inside the big blue diamond found above the word'Sam's'.
Sam's Club's previous slogan was "We Are In Business For Small Business" until 2006. In December 2007, Sam's Club launched a new slogan, "Enjoy the Possibilities". Since it became an official advertising slogan, mentioned in television and radio advertisements, but it is not mentioned on its website; as of January 2008, the "Enjoy the Possibilities" slogan was no longer in use. Sam's Club launched their latest slogan "Savings Made Simple" in the fourth quarter of 2009. Starting in April 2007, there was speculation of a possible sale or spinoff of Sam's Club from parent company Wal-Mart Stores, Inc. At Walmart's 2007 annual shareholder's meeting in June, management said that Sam's Club is not for sale, although they did not say they are not considering a spinoff. On February 26, 2009, Walmart Canada announced that it would be closing all six of its Canadian Sam's Club locations; this was part of Walmart Canada's decision to shift focus towards supercentres, but some industry observers suggested that the operation was struggling in competition with Costco and the non-membership The Real Canadian Superstore, that had a well-established history in the country.
Sam's Club rebranded the two as yet unopened locations as new Walmart Supercentres. In January 2010, it was announced, including four in California. At the same time, Sam's opened six new clubs at various locations in the United States. On January 24, 2010, it was announced that 11,200 Sam's Club employees would be laid off; the layoffs resulted from the decision to outsource product sampling duties to an outside company and to eliminate New Business Membership Representative positions throughout the chain. Most of the laid-off employees were part-time and represented about 10% of the total Sam's Club workforce. Rosalind Brewer was named as the new CEO for Sam's Club, a change that came into effect on February 1, 2012. On January 24, 2014, it was announced that Walmart will cut 2,300 jobs at the underperforming Sam's Club locations. On February 1, 2017, John Furner replaced Brewer as CEO of Sam's Club. On January 11, 2018, Walmart announce
A cooperative is "an autonomous association of persons united voluntarily to meet their common economic and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise". Cooperatives may include: businesses owned and managed by the people who use their services organizations managed by the people who work there multi-stakeholder or hybrid cooperatives that share ownership between different stakeholder groups. For example, care cooperatives where ownership is shared between both care-givers and receivers. Stakeholders might include non-profits or investors. Second- and third-tier cooperatives whose members are other cooperatives platform cooperatives that use a cooperatively owned and governed website, mobile app or a protocol to facilitate the sale of goods and services. Research published by the Worldwatch Institute found that in 2012 one billion people in 96 countries had become members of at least one cooperative; the turnover of the largest three hundred cooperatives in the world reached $2.2 trillion.
Cooperative businesses are more economically resilient than many other forms of enterprise, with twice the number of co-operatives surviving their first five years compared with other business ownership models. Cooperatives have social goals which they aim to accomplish by investing a proportion of trading profits back into their communities; as an example of this, in 2013, retail co-operatives in the UK invested 6.9% of their pre-tax profits in the communities in which they trade as compared with 2.4% for other rival supermarkets. Since 2002 cooperatives and credit unions could be distinguished on the Internet by use of a.coop domain. Since 2014, following International Cooperative Alliance's introduction of the Cooperative Marque, ICA cooperatives and WOCCU credit unions can be identified by a coop ethical consumerism label. Cooperation dates back as far. Tribes were organized as cooperative structures, allocating jobs and resources among each other, only trading with the external communities.
In alpine environments, trade could only be maintained in organized cooperatives to achieve a useful condition of artificial roads such as Viamala in 1472. Pre-industrial Europe is home to the first cooperatives from an industrial context; the roots of the cooperative movement can extend worldwide. In the English-speaking world, post-feudal forms of cooperation between workers and owners that are expressed today as "profit-sharing" and "surplus sharing" arrangements, existed as far back as 1795; the key ideological influence on the Anglosphere branch of the cooperative movement, was a rejection of the charity principles that underpinned welfare reforms when the British government radically revised its Poor Laws in 1834. As both state and church institutions began to distinguish between the'deserving' and'undeserving' poor, a movement of friendly societies grew throughout the British Empire based on the principle of mutuality, committed to self-help in the welfare of working people. In 1761, the Fenwick Weavers' Society was formed in Fenwick, East Ayrshire, Scotland to sell discounted oatmeal to local workers.
Its services expanded to include assistance with savings and loans and education. In 1810, Welsh social reformer Robert Owen, from Newtown in mid-Wales, his partners purchased New Lanark mill from Owen's father-in-law David Dale and proceeded to introduce better labour standards including discounted retail shops where profits were passed on to his employees. Owen left New Lanark to pursue other forms of cooperative organization and develop coop ideas through writing and lecture. Cooperative communities were set up in Glasgow and Hampshire, although unsuccessful. In 1828, William King set up a newspaper, The Cooperator, to promote Owen's thinking, having set up a cooperative store in Brighton; the Rochdale Society of Equitable Pioneers, founded in 1844, is considered the first successful cooperative enterprise, used as a model for modern coops, following the'Rochdale Principles'. A group of 28 weavers and other artisans in Rochdale, England set up the society to open their own store selling food items they could not otherwise afford.
Within ten years there were over a thousand cooperative societies in the United Kingdom. Other events such as the founding of a friendly society by the Tolpuddle Martyrs in 1832 were key occasions in the creation of organized labor and consumer movements. Friendly Societies established forums through which one member, one vote was practiced in organisation decision-making; the principles challenged the idea that a person should be an owner of property before being granted a political voice. Throughout the second half of the nineteenth century there was a surge in the number of cooperative organisations, both in commercial practice and civil society, operating to advance democracy and universal suffrage as a political principle. Friendly Societies and consumer cooperatives became the dominant form of organization amongst working people in Anglosphere industrial societies prior to the rise of trade unions and industrial factories. Weinbren reports that by the end of the 19th century, over 80% of British working age men and 90% of Australian working age men were members of one or more Friendly Society.
From the mid-nineteenth century, mutual organisations embraced these ideas in economic enterprises, firstly amongst tradespeople, in cooperative stores, educational institutes, financial institutions and industrial enterprises. The common thread (enacte
Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price and exact nature of a transaction. If the bargaining produces agreement on terms, the transaction takes place. Bargaining is an alternative pricing strategy to fixed prices. Optimally, if it costs the retailer nothing to engage and allow bargaining, s/he can divine the buyer's willingness to spend, it allows for capturing more consumer surplus as it allows price discrimination, a process whereby a seller can charge a higher price to one buyer, more eager. Haggling has disappeared in parts of the world where the cost to haggle exceeds the gain to retailers for most common retail items. However, for expensive goods sold to uninformed buyers such as automobiles, bargaining can remain commonplace. Dickering refers to the same process, albeit with a slight negative connotation. Bargaining is the name chosen for the third stage of the Kübler-Ross model though it has nothing to do with price negotiations.
Not all transactions are open to bargaining. Both religious beliefs and regional custom may determine whether or not the seller is willing to bargain. In North America and Europe bargaining is restricted to expensive or one-of-a-kind items and informal sales settings such as flea markets and garage sales. In other regions of the world, bargaining may be the norm for small commercial transactions. In Indonesia and elsewhere in Asia, locals haggle for goods and services everywhere from street markets to hotels. Children learn to haggle from a young age. Participating in that tradition can make foreigners feel accepted. On the other hand, in Thailand, haggling seems to be softer than the other countries due to Thai culture, in which people tend to be humble and avoiding argument. However, haggling for food items is discouraged in Southeast Asia and is considered an insult, because food is seen as a common necessity, not to be treated as a tradable good. In all large complex business negotiations, a certain amount of bargaining takes place.
One simplified'western' way to decide when it's time to bargain is to break negotiation into two stages: creating value and claiming value. Claiming value is another phrase for bargaining. Many cultures take offence; this offence is as a result of their wanting to first create value for longer before they bargain together. The Chinese culture by contrast places a much higher value on taking time to build a business relationship before starting to create value or bargain. Not understanding when to start bargaining has ruined many an otherwise positive business negotiation. In areas where bargaining at the retail level is common, the option to bargain depends on the presence of the store's owner. A chain store managed by clerks is more to use fixed pricing than an independent store managed by an owner or one of owner's trusted employees; the store's ambiance may be used to signal whether or not bargaining is appropriate. For instance, a comfortable and air-conditioned store with posted prices does not allow bargaining, but a stall in a bazaar or marketplace may.
Supermarkets and other chain stores never allow bargaining. However, the importance of ambiance may depend on the cultural commitment to bargaining. In Israel, prices on day-to-day items may be negotiable in a Western style store manned by a clerk; the personality theory in bargaining emphasizes that the type of personalities determine the bargaining process and its outcome. A popular behavioral theory deals with a distinction between soft-liners. Various research papers refer to hard-liners as warriors, it varies from region to region. Bargaining may take place more in semi-urban areas than in a metro city. Bargaining games refer to situations where two or more players must reach agreement regarding how to distribute an object or monetary amount; each player prefers to reach an agreement in these games, rather than abstain from doing so. However, each prefers. Examples of such situations include the bargaining involved in a labour union and the directors of a company negotiating wage increases, the dispute between two communities about the distribution of a common territory, or the conditions under which two countries agree on nuclear disarmament.
Analyzing these kinds of problems looks for a solution that specifies which component in dispute corresponds to each party involved. Players in a bargaining problem can bargain for the objective as a whole at a precise moment in time; the problem can be divided so that parts of the whole objective become subject to bargaining during different stages. In a classical bargaining problem the result is an agreement reached between all interested parties, or the status quo of the problem, it is clear that studying how individual parties make their decisions is insufficient for predicting what agreement will be reached. However, classical bargaining theory assumes that each participant in a bargaining process will choose between possible agreements, following the conduct predicted by the rational choice model, it is assumed that each player's preferences regarding the possible agreements can be represented by a von Neumann–Morgenstern utility theorem function. Nash defines a classical bargaining problem as being a set of joint allocations of utility, some of which correspond to what the players would obtain if they reach an agreement, another that represents what
FedMart was a chain of discount department stores started by Sol Price, who founded Price Club. His first location in San Diego, California was in a converted airport hangar, it was a discount department store open to government employees, who paid a membership fee of $2 per family. FedMart's first year was successful. Over the next 20 years Fedmart grew to include 45 stores in a chain that generated more than $300 million in annual sales; the business expanded to several states in the Southwest United States. Many stores were previous White Front or Two Guys locations. Price sold two-thirds of the chain to Hugo Mann, a German retail chain, in 1975 and was forced out of his leadership position the following year. FedMart went out of business in 1982. Sol Price began his career in the mid-1950s. Fedmart began after he inherited a vacant warehouse for which he needed to find a tenant, was asked by a couple of clients to visit Los Angeles to give his opinion on an unusual business; the clients were in the wholesale jewelry business, had been selling watches to a non-profit, member-owned retail operation in Los Angeles called Fedco.
When he visited Fedco, Price noticed that its facility was similar to the warehouse he had inherited. He suggested to his clients, his clients agreed, marking the beginning of FedMart and, along with established Fedco from 1948, the membership club industry. The business began in 1954 with a $50,000 capital investment. Price solicited the help of eight individuals, who each invested $5,000 and convinced his law firm to invest the remaining $10,000, he obtained his inventory beginning with two jewelry wholesalers. Another client, in the furniture business, provided Price with a small selection of furniture. A third client sold liquor, giving Price's FedMart the odd merchandise mix of jewelry and liquor, he opened membership to government employees of all levels—federal and local. Despite the less than comprehensive selection of goods, Price's business thrived, collecting $4.5 million during its first year, four times the total projected by Price and his investors. Success spawned the establishment of other warehouse stores and a more coherent merchandising strategy.
FedMart developed into a chain of stores, Price pioneered several innovations in the retail industry. FedMart became the first retailer to sell gasoline at wholesale prices; the chain was the first to open an in-store pharmacy. FedMart opened in-store optical departments, establishing a format, copied decades later. Aside from developing several industry firsts, Price guided the company into food retailing, a product line that would underpin the chain's development. Price was joined in his business by his son, who served as FedMart's executive vice-president until they sold two-thirds of the chain in 1975 to the German retail company Hugo Mann; the company was 21 years old with sales in excess of $350 million at 40 stores. Price was fired less than a year after the Hugo Mann takeover; the store chain closed within seven years. FedMart began as a membership store by opening in an abandoned warehouse in San Diego, California in 1954. A second store was opened in Phoenix, Arizona, in 1955 followed by a third store in San Antonio, Texas.
A second San Diego-area store was opened in Kearny Mesa in 1958 followed by opening of other stores in San Diego and Southern California. Membership requirements were dropped in the sixties and FedMart become a non-membership discount store. By 1975, FedMart had 44 stores in California, New Mexico, Texas. In 1969, the company became public, its stock traded on the American Stock Exchange. Hugo Mann began purchasing stock in the company in 1975 and obtained a controlling interest in the Spring of that year and increased its holding to 68% that Fall, it was not until 1981 that Hugo Mann was able to obtain the rest of the stock and take the company private. After obtaining a controlling interest in FedMart, Hugo Mann pumped more money into the company to enable rapid expansion. Besides building new stores, FedMart purchased the 22 store West Coast division of Two Guys from Vornado in 1977 and the 10 store Globe Store chain from Walgreens in 1978. FedMart had 70 stores by 1979. By the early 1980s, FedMart began to lose money and started to close stores outside of California.
There were 46 stores left when Hugo Mann decided to close the chain in 1982 and lease the store locations to other retail firms. 35 of the locations were leased to Target and the rest were leased to Ralphs Grocery Stores. The closing of FedMart allowed Target an entry into the competitive Southern California marketplace. FedMart was one of the first large scale retail stores on the Navajo Indian Reservation, it was located in Arizona. In 1979, the German president of FedMart was outraged upon discovering that FedMart was selling books about Nazi Germany at its stores in the US, he banned the sale of all books on "political issues that are controversial", including books about Jimmy Carter, Richard Nixon, the Democratic Party. Company Information
BJ's Wholesale Club
BJ's Wholesale Club Holdings, Inc. referred as BJ's, is an American membership-only warehouse club chain operating on the East Coast of the United States and the state of Ohio. The company was started by discount department store chain Zayre in 1984, on the Medford/Malden border in Massachusetts; the company's name was derived from the initials of Beverly Jean Weich, the daughter of Mervyn Weich, the president of the new company. Weich announced his resignation as president in June 1987, left on August 1, he was replaced by John Levy. When Zayre Corporation sold the Zayre nameplate to rival discount chain Ames in October 1988, TJX Companies was formed. In 1989, TJX spun off their warehouse division, consisting of BJ's and now-defunct HomeClub, to form Waban, Inc. In August 1997, Waban spun off BJ's to become an independent company, BJ's Wholesale Club, Inc. headquartered in Natick, while Waban renamed itself to HomeBase, Inc. In 2011, BJ's was acquired by two private equity firms, Leonard Green & Partners and CVC Capital Partners.
It returned to being a public company in 2018. As of January 5, 2018, BJ's operates 216 BJ's clubs in 16 states and employed 25,000 team members. Clubs are found in Maine, New Hampshire, Delaware, Rhode Island, New York, New Jersey, Maryland, North Carolina, South Carolina, Georgia and Ohio with the 217th store being built in Chicago, IL, its major competitors are Costco Wholesale and Walmart's version of a warehouse club concept, Sam's Club. BJ's offers a variety of special benefits to its members; these include "member pricing", a variety of name-brand products at discount wholesale prices, acceptance of all valid manufacturers' coupons, acceptance of many forms of payment. Memberships at BJ's are required for these benefits and are available to individual consumers and businesses. BJ's memberships last for twelve months from the date of purchase and must be renewed yearly; as of January 2, 2018, a standard Inner Circle membership at BJ's cost $55 per year. In addition, BJ's has a special "Rewards" membership that may be purchased for an additional $55, allowing 2% of most of a member's purchases to be "rewarded" and redeemed for use towards future BJ's purchases.
Business members may apply to purchase BJ's products for resale, nonprofit organization members may apply for tax-exempt privileges. Members with expired memberships, as well as non-members are allowed to shop, but are assessed a 5-15% surcharge on their total, are not allowed to pay by check. However, if non-members keep their receipts and decide to renew their membership or open a new membership, they will be refunded the surcharge and applied towards the membership fee, within seven days. To aid in convenience, most BJ's memberships can be renewed at the register during checkout. BJ's Wholesale Club has a 100% Satisfaction Guarantee on their memberships. Many of BJ's clubs offer special services to members, such as car rentals, gas stations, home heating oil, an optical department, propane filling, vacation packages; these services vary from location to location. As of 2008, there were 154 clubs with optical departments; as of January 30, 2010 BJ's operated 104 gasoline stations at their clubs.
In February 2007, BJ's closed all pharmacies in its clubs. BJ's Wholesale Club locations stock different varieties of products at different locations. However, all clubs carry the items listed in the coupon book, published on a monthly basis. However, at certain times, it is not uncommon for a certain club not to carry a new item due to its higher demand. In March 2010, BJ's announced they would move their corporate headquarters from Natick to Westborough, Massachusetts in 2011. On January 5, 2011, BJ's announced it would close five underperforming stores in the Southeast, eliminate 100 headquarters jobs by the end of the month, restructure its home office and some field operations, its restructuring moves would result in savings of 78 to 82 cents per share for its fiscal fourth quarter. BJ's Wholesale Club markets numerous products under its own private labels — including products by Richelieu Foods. Berkley-Jensen: BJ's private-label products, including some food and non-food items. Wellsley Farms: BJ's upscale, private-label line of fresh foods, which includes a full selection of dairy products, produce and fresh heat-and-eat meals Additionally, BJ's carries many organic and natural food brands such as Kerrygold, Amy's Kitchen, Newman's Own and American Flatbread.
BJ's utilizes three cross-dock distribution centers along with third-party warehouse space when extra storage is needed