99 Cents Stores by Janice Cooper
99 Cents Stores - RateIt
99 Cents Store is a retailer based in Commerce. California. The store only sells items that are $0.99 or less. Founded by David Gold in 1982, Gold came up with an idea for liquidating slow selling wines. He decided to create a full store of like bargains. For publicity, he managed to sell televisions for only 99 cents and had his family members call local tv stations to help create the buzz. His ideas soon worked and to this day the 99 cents stores use similar promotions for store openings. One high priced item is usually given away at 99 cents to the first nine customers to enter the store’s doors. Additional smaller prizes are given to the 90 customers that follow. the 99 Cents Store also lightheartedly advertises that it is open nine days a week.
The company also celebrates major holidays with large inventory on seasonal decor and products. It also celebrates the 99th birthday of notable figures. The company holds a special appreciation for individuals who reach the age of 99 and names many of them as honorary spokespersons of the brand. The 99 Cents Store also made headlines when photographer Andreas Gursky created a manipulated photo image piece from a 99 Cents Store photograph. It became the most expensive photo ever sold in February 2007, auctioned for $3.3 million. While historically items have been mostly 99 cents in the store, in 2008 the company raised its highest price to $99.99 cents. This increase was said to help protect the company during a time of rising costs and inflation.