“The merchant sends the buyer far afield with instructions to invest... in... staples or novelties, as he thinks will interest the home public. He risks his money and a certain amount of prestige upon the judgment of the buyer... Much merchandise begins to depreciate from the day it arrives; practically none increases in value. The buyer then must learn to buy enough and not too much; to buy what will give satisfaction..; to pay not too much for what he buys; to know qualities and values... All this carries with it a certain speculative risk, but so certain does his judgment become, that the house conducted on scientific lines can estimate to a fraction of one per cent.”

The Romance of Commerce (1918), A Representative Business of the Twentieth Century

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Harry Gordon Selfridge23

America born English businessman 1858–1947

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