![]() He also invented the price tag: "A devout Christian, he believed that if everyone was equal before God, then everyone should be equal before price." Before Wanamaker's, every purchase was open to a haggle. A renowned innovator of the highest integrity, Wanamaker was the first retailer to offer money-back guarantees. The Pennsylvania Quakers" "honest price" was institutionalized in 1874 by John Wanamaker, when he opened his eponymous department store in Philadelphia. The Quakers, who found it immoral for different customers to pay different prices (now known as price discrimination) were an exception. Many price tags also bear the name of the store.īefore the late 19th century, in most cases, retail goods did not have a fixed price, and each customer would be expected to haggle with the store clerk. For example, the 1936 Robinson–Patman Act outlaws this practice in the United States. organizations that might be expected to buy in bulk or have better creditworthiness). quantity discounts are allowed) or different types of customers (e.g. Some jurisdictions also outlaw price discrimination except for different quantities (e.g. In some cases, unit price is also required. Some jurisdictions require items (possibly exceptions for bulk good and produce) to be individually marked with the price, or have shelf tags or barcode scanners available so customers can determine prices without consulting store staff. It may be a sticker or attached by twist tie or other means. ![]() Typical price tag with security cuts, for 99¢ + tax An orange price tag rollĪ price tag is a label declaring the price of an item for sale. JSTOR ( February 2021) ( Learn how and when to remove this template message).Unsourced material may be challenged and removed. Please help improve this article by adding citations to reliable sources. This article needs additional citations for verification.
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