The Year That Changed Retailing Forever

Attention, discount shoppers! It's time for a celebration. This spring, Americans mark half a century of discount retailing -- or would mark it, if they weren't so busy shopping.

Discounting doesn't really have a birth date; the idea that a store can move more goods by knocking down the price is as old as retailing itself. But this spring marks the 50th anniversary of a discounting revolution that helped shape modern retailing.