He sold groceries for cash and passed the savings from not offering credit to customers in the form of lower prices.
On August 15, 1915, Skaggs bought the store from his father for $1,088 (equivalent to $32,800 in 2023), and he continued the cash-and-carry business strategy helping him amass wealth and prominence in the grocery retailing industry.
[1][2] Skaggs' aversion to credit sales is exemplified by an admonition about "the growing evil of installment purchasing".
[2] Customers picked up baskets as they entered the store, selected what they wanted from the shelves, and paid for their purchases at a checkout counter.
[2] Before the second store could open, however, the United States was in World War I, and his brother enlisted in the military.
[2] In 1931, Skaggs sold controlling interest to Wall Street's Charles E. Merrill, became chief executive of the company, and retired from the Board of Directors in 1941.