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Pioneer of Price - Driven Retail
 @eginnings

— When he was 16 he attended commercial college

for a brief period before offering his services first to
the station master·s small store.Then he worked at
Dan McNeil·s general store

— Dan McNeil recommended him to William More.

He started working at Augsbury & Moore.

— He opened his own five-cent store in Utica, New

York.

—In his second store in Lancaster, Pennsylvania

in1879 he expanded the concept to include
merchandise priced at ten cents.
 @REAKTHROUGH

— The most important factor in ensuring

the success of the chain was increasing the
variety of goods offered, Woolworth in
1886 moved to @rooklyn, New York, to be
near wholesale Suppliers. He also
undertook the purchasing for the entire
chain.

— A major breakthrough came when he

decided to stock candy and was able to
bypass wholesalers and deal directly with
manufacturers.
 ACHIEVEMENTS

— The company had 631 outlets doing a business of

$60,558,000 annually by 1912. In that year Woolworth
merged with five of his leading competitors, forming
a corporation capitalized at $65 million. The next
year, at a cost of $13.5 million, he built the
Woolworth @uilding in downtown New York, the
tallest skyscraper in the world, measuring 792 feet, or
241.4 meters at the time.
 ACHIEVEMENTS

—@y the1919, his company included over 1,000

stores. Woolworth had revolutionized the retail
business with his emphasis on discount prices and
high volume of sales.

— Frank Winfield Woolworth (1852-1919), American

merchant, was a pioneer in retailing methods. He
established the great chain of "five-and-ten-cent"
stores which bear his name.
 HIS SECRET

— He believed in proper delegation.

—He believed that a man must select able lieu ants

and/or associates and give them power and
responsibility.
THANK YOU