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Barry Ritholtz

One Dollar Is the Best Price Point Ever

A niche turned out to be pretty big.

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. Cal Turner Jr. on the Promise of Fami...