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The Quakers—including a New York merchant named Rowland H. Macy—had never believed in setting different prices for different people. Wanamaker, a Presbyterian operating in Quaker Philadelphia, opened his Grand Depot under the principle of “One price to all; no favoritism.” Other merchants saw the practical benefits of Macy’s and Wanamaker’s prix fixe policies. As they staffed up their new department stores, it was expensive to train hundreds of clerks in the art of haggling. Fixed prices offered a measure of predictability to bookkeeping, sped up the sales process, and made possible the proliferation of printed retail ads highlighting a given price for a given good.
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Not every place in the world is equally well-suited to mass economic activity. Nature’s bounty is divided unevenly. Variations in wealth and income created by these differences are magnified by governments that suppress entrepreneurship and promote religious intolerance, gender discrimination, or other bigotry. Closed borders compound these injustices, cementing inequality into place and sentencing their victims to a life of penury.
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Amondo Redmond, the director of Gap outlet stores, notes that the Gap brand outlets (which also include Banana Republic) only have clothing made specifically for them. Unlike the major department stores, they’re quite vocal about this distinction: There is no overflow from regular Gap or Banana stores, and Redmond says the company tries to be as straightforward as possible about its merchandise. He believes there needs to be more honesty in the industry when it comes to telling shoppers what it is they are buying.
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I originally discovered this wholesale store because my husband loves to buy household necessities like cleaning supplies, toilet paper, and paper towels here since buying in bulk (usually) saves time and money. But Costco has so much more to offer, once you get past the sheer overwhelming size of the store.
Will call, COBO (in Care Of Box Office), or “at the door” pickup: The patron picks up pre-purchased tickets for an event, such as a play, sporting event, or concert, either just before the event or in advance. With the onset of the Internet and e-commerce sites, which allow customers to buy tickets online, the popularity of this service has increased.
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The off-price arm of the upscale Nordstrom store, Nordstrom Rack offers designer clothing at deep discounts. They have two locations that are convenient for visitors to the city — one in Downtown Brooklyn and the other in Union Square. They have a vast array of merchandise in both stores, including accessories and shoes as well as clothing and handbags. They carry merchandise for both children and adults.
The first was the arrival of data. Thomas Nagle was teaching economics at the University of Chicago in the early 1980s when, he recalls, the university acquired the data from the grocery chain Jewel’s newly installed checkout scanners. “Everyone was thrilled,” says Nagle, now a senior adviser specializing in pricing at Deloitte. “We’d been relying on all these contrived surveys: ‘Given these options at these prices, what would you do?’ But the real world is not a controlled experiment.”
I used to think of Loft as a store where my mom shopped, but now it’s one of my staples. I wear their jeans almost exclusively, and they always have a great, seasonally rotating selection of blouses and tops.

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