CUTRATE STORES Meaning and
Definition
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Cutrate stores, also known as discount stores or low-cost stores, refer to retail establishments that offer goods at reduced prices compared to traditional retail stores. These stores specialize in providing products at a lower price point by employing various strategies to minimize costs and maximize value to the consumer.
The main characteristic of cutrate stores is their ability to offer products at significantly lower prices. This is often achieved through sourcing goods directly from manufacturers or wholesalers at discounted rates, allowing them to pass on the savings to customers. Cutrate stores generally focus on offering a wide range of products, including household items, clothing, electronics, and groceries.
To maintain their low prices, cutrate stores typically follow a no-frills approach, meaning they prioritize cost-cutting measures like basic store layouts, limited staffing, and simplified store designs. They may not provide additional services such as extended warranties or high-end customer service, focusing instead on providing competitive prices on everyday items.
Cutrate stores have become popular among budget-conscious consumers, as they offer value and savings to those seeking to stretch their dollars further. They appeal to customers who prioritize affordability and are willing to compromise on other factors like brand recognition or the shopping experience.
In summary, cutrate stores are retail establishments that specialize in offering products at reduced prices compared to traditional retail stores. They achieve this by sourcing goods at discounted rates, maintaining a no-frills approach, and focusing on high-volume sales. These stores cater to cost-conscious consumers seeking value and affordability in their shopping experience.
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Etymology of CUTRATE STORES
The etymology of the term "cut-rate stores" can be traced back to the early 20th century in the United States. It combines two elements: "cut" and "rate".
1. Cut: In this context, "cut" refers to a reduction in price or a discounted offer. The term "cut-price" had been commonly used before the emergence of "cut-rate" to describe a lowered or discounted cost.
2. Rate: The term "rate" refers to the price at which something is sold or the value assigned to goods or services.
Together, "cut-rate stores" denotes establishments that offer products at significantly reduced prices compared to other retailers. This term became popular in the early 20th century as an advertising strategy to attract customers seeking lower prices or bargain deals.
Over time, the term "cut-rate" has become synonymous with inexpensive or budget-friendly stores.
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