Barry Ritholtz, Columnist

One Dollar Is the Best Price Point Ever

A niche turned out to be pretty big.

June 12, 2018 at 5:02 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

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Cal Turner Jr., retired chief executive officer of Dollar General Corp. and this week's guest on Masters in Business, likes to explain how his father came up with the concept of dollar pricing. Department stores in Louisville, Kentucky, and Nashville, Tennessee, would run monthly advertisements for "dollar days,” one day each month when merchandise cost a dollar. Cal Sr. figured the retailers had to be making money on the discount days because they were clearly spending a lot on advertising and they kept on doing it.