Eric Schiffer the ceo of 99¢ Only stores, never thought that he would become a CEO of this retail industry. He never even plan to work on this business too, since he was actually studied an electrical design engineer. He eventually becomes the CEO of this 99¢ only stores, it’s because of his father in law who was founding this store in 1982. Eric Schiffer was joining the company in 1991 and become the president of this retail in year 2000 until he become the CEO in 2005. Now these 99¢ only stores become a big retail chain in the country that has more than two hundred branches in California, Texas, Arizona and Nevada. It is like other retail shop, what this 99¢ only store sells is also pretty similar with those stores, they are selling a mix of food, beverage and household items. However this store developed very well and they are able to expand the store by opening more branches in other town from time to time until now they have hundreds of them.
What make these store 99¢ only stores become as big as now is because people like to shop there since the price is cheap. They are able to sell a brand product with very big discount. This is what makes the visitor interested to buy. But how could they do this, is because this store is buying a “reject product” from the brand company. Reject product does not mean that they are expired or rotten. It’s just because the company over produced it or it is a new product that does not make a good sale, or an items that has been replaced with new product or perhaps they bought items because the package or the label was changed. This kind of items are a good items but has very low price and this is what they re-sell it to customer for good price too and people like it because they actually are all in good condition.
