Can you imagine having to haggle over everything you bought in a store?
But as businesses got bigger in the 1870s, shopkeepers needed a way to streamline pricing for both sales clerks and customers alike. Two department stores helped pioneer the price tag: Macy’s in New York and Wanamaker’s in Philadelphia.
They adopted the Quaker’s concept of one price on all items, no questions asked. Price tags thus removed the hassle for both stores and the customers.
The price is right, usually
Dynamic pricing still exists though. Whether it’s an Uber surge or last-minute airline tickets to Tahiti, we churn across the internet looking for the best price.