Use refrigerated cases to keep produce fresher longer.
#Piggly wiggly full#
Give shoppers more for their food dollar through high volume/low profit margin retailing.įeature a full line of nationally advertised brands. In fact, many of the conveniences and services that American shoppers now enjoy were introduced first by Piggly Wiggly®. Piggly Wiggly's introduction of self-service grocery shopping truly revolutionized the grocery industry. Someone once asked him why he had chosen such an unusual name for his organization, and Saunders' reply was, "So people will ask that very question." He wanted and found a name that would be talked about and remembered. One story is that he saw from a train window several little pigs struggling to get under a fence, and the rhyming name occurred to him then. Saunders' reason for choosing the intriguing name Piggly Wiggly® remains a mystery he was curiously reluctant to explain its origin. Piggly Wiggly Corporation continued to prosper as franchiser for the hundreds of independently owned grocery stores allowed to operate under the Piggly Wiggly name and during the next several decades, functioned successfully under various owners.
#Piggly wiggly series#
The stock was successfully traded on the New York Stock Exchange for some time, but through a series of stock transactions in the early 1920s, Saunders lost control of Piggly Wiggly and had no further association with the company. The original Piggly Wiggly Corporation became owner of all Piggly Wiggly properties: the name, the patents, etc., and Saunders began issuing stock in the Corporation.
Piggly Wiggly Corporation, established by Saunders when he opened the first store in Memphis, secured the self-service format and issued franchises to hundreds of grocery retailers for the operation of Piggly Wiggly stores. There were shopping baskets, open shelve and no clerks to shop for the customer-all unheard of! Operating under the unusual name Piggly Wiggly, it was unlike any other grocery store of that time. Saunders, a flamboyant and innovative man, noticed that this method resulted in wasted time and expense, so he came up with an unheard of solution that would revolutionize the entire grocery industry: he developed a way for shoppers to serve themselves.ĭespite predictions that this novel idea would fail, Saunders’ first store opened Septemat 79 Jefferson Street in Memphis. Back then shoppers would present their grocery orders to clerks who then gathered the goods from the store shelves. It was unfinished when he died in 1953.Piggly Wiggly®, America’s first true self-service grocery store, was founded in Memphis, Tenn. In his last years Saunders was working on an even more intricate mechanism - the Foodelectric. It was found that the machinery was too complex & expensive to operate. After that he started another grocery chair, called the Kedoozle, an electrically operated store. The depression hit these stores in 1930, & they went bankrupt & he was broke again. Saunders came back, however, In 1928 he started a new grocery chain called the Clarence Saunders, Sole Owner of My Name, Stores, Inc. This resulted in eventual bankruptcy for Saunders & he was finally forced to step out of the Pigp]y Wiggly Company.
At this point the Exchange suspended further trading & postponed the short sellers' delivery deadline. The stock went up wildly, reaching a high of 124. His buying campaign was an attempt at a corner. He supplemented his own funds with a loan of about ten million dollars from a group of bankers. When a group of bears began selling Piggly Wiggly short to force the price of the stock down, Saunders began a buying campaign to support the price of the stock in order to protect his own investment & that of other Piggly Wiggly stockholders. By 1922 the stores had flourished so that its shares were listed on the N.Y. as the last man who engineered a real corner in a nationally traded stock. ANNALS OF FINANCE about Clarence Saunders of Memphis, who in 1919, founded the Piggly Wiggly Stores, a chain of retail self-service markets situated mostly in the South & West, with headquarters in Memphis.
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