The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1924-03-28
the situation becomes wore.
The Credit Assoeia tion.

The Credit Association
Very well then, so much is decided
up. the present is the time to attack.
But how? OF the three abuses. over
tapping stocks. Improbable credit.
and the mail order competition the
second should be the easiest question
for which to find solution. The
key to the situation lies in the orr
ganization of a local credit associa-
tion to which all local retailers and
business men are 70 be members.
There are over fifty business places
besides the pool halls who would pro-
fit by a movement in this direction.
At least thirty out of these fifty
stand In great need of such an organ
ization and would surely become
members say at a flat rate of four
dollars a month"; or so. The amount
gotten from the membership plus
the amount that would be charged by
the association for such special ser
vices as collections would furnish
enough of an income to maintain a
credit man who would manage the
organisation. devote all his time to
it. furnish the members with the de-
sired information concerning the
monthly credit standing of their GUS
I mers and make the necessary col
lections here and in other localities
The manager is to have free access
to the books of the members of the
association.
Once such an organization is begun
it's members will gladly give their
support. Others win join and con-
sequently more money win be taken
in in the way of dues and special
service fees, so that if desired, &C low.
er rate is possible. Such an associa-
| tion would do away with the un-
usually large annual loss from dead
beats and interest on long outstand-
| ing accounts for il the merchant re.
| fuses credit unless the account is
| paid up to date or a substantial pay
ment is made. the customer will have
! to pay up before he can get more
goods, for his credit status is known
| by the other retailers through the
association. Collection expenses will
be reduced to a minimum for the
policy of the association would be to
protect its members. not to. make
4 uiOHcSs AS W ACTUALLY BUZZ
! an association. someone with ability
tact, and influence must get out and
push the idea among the locals ex-
plain it to them and thus break the
/ ground for its organization.
Better Service 20 the Buyer.
Overlapping stocks and the mai
order malady have one. point in com.
mon. That is, they take business
away from the local retailer who
sells this merchandise as his regular
line. The solution to these problems
is the same. namely, better selling
| methods. better buying, and so better
service to the consun er, in addition
to the big factor-efficient sdyertis-
ing. BY better service / mean jus,
what the word service implied. II
you know your merchandise, If you
advise your customer what is good
for his purpose and what is not. ii
you can stand back of your product
with a complete line of it, and ii
You gan get the confidence of your
customers, your question of over
tapping stocks is settled atisfactor-
! lily. But. you must have the right
stock at the right time and mus,
advertise it in order to bring the
get his personal confidence. This IL
I, best done by selling him goods that
| is best suited to his purpose, his eye
! and his !, pocketbook. Get posted OF
!. advanced selling methods For ex.
| ample. learn how to fit shoes. what
I, kind of a shoe to fit that kind Of {
! foo Explain to your customer tina
/ he has contour wing or straight
!, foot, low, medium, or high eleva,
ton, and that the shoe you are fit
! ting him is of this construction, tina
/, this Fit will be most satisfactory II
/ the long run andZ will enable tn,
shoe to. keep it's original shape ant
which connt and gain for you tina
| confidence which is so invaluable
But such confidence can be gained
| only by the retailer who devotes al
his time to his own line for h,
alone can thoroughly study his goods
his customers. needs know what ans
when to buy). and buy right. H,
/ alone can Oxford to carry a complet,
J line and thus better choice. He Il
4 in position to gain his customers
confidence which the man who car
ries it as a side line cannot. AS
said previously, it takes time ant
effort and even a large expenditure
! OF money to gain this confidence
That. is where advertising comes in
Efficient Advertising.
! The reason local people buy SO ex
/ tensfvely outside is not usually be
| cause prices are lower for the sam,
| quality material. Their retailers hav,
not gotten their confidence. This il
due in many eases to the fact tina
these retailers are following a blind
| alley; that is, he is wasting time ant
| energy on a side line, interferint
with somebody else and doing him
\ self more harm than good. This con
fidence is best secured by carrying ;
stock of nationally advertised mer
chandise of the desired quality. I
Is. however, the fact that 1t is ma
tionally advertised that gives the re
taller foundation from which h.
can oppose. overlapping stocks ant
the mali order houses
In the first place, start a mailing
list. This is especially valuable, be
cause your competitor does not know
what is, UP your sleeve and as a rui,
| does not get any benefit from YOU
advertising. This is also applicabl,
against the retailer who is overlap
1 ping. The mailing list approaches
| possibly interested customers and
widens the area from which the. re
taller can draw from for customers
| Send in special offers to those VIII,