How Business Changed Over Time
A lot has changed since Hoy’s 5&10 first opened its doors in 1936. From how money is processed and products are priced to the employee dress code and featured merchandise, Hoy’s has changed with the times. But one thing has remained the same. Hoy’s 5&10 has been the fun place to shop for over 75 years.
Owner David Hoy and longtime employees reminisced over the company’s history, comparing ‘then’ with ‘now.’
The Shopping ‘Climate’
Then: Hoy’s 5&10 opened during the Great Depression. People did not have a lot of money. But they still needed supplies. At the time, there were no chain stores, large shopping centers or malls. The whole idea behind the 5&10 was to be able to buy something for less. Hoy’s had buying power and so could offer lower prices. That brought in customers.
Now: Today, there are shopping malls, deep discount chain stores, dollar stores and online retailers. Hoy’s has established its own niche. It has become the ‘mom and pop’ store in the beach communities that it serves. Each store is customized to its clientele, which means Hoy’s offers Stone Harbor souvenirs in Stone Harbor and Ocean City souvenirs in Ocean City. The store also offers everything you need to stock up on when you’re in town visiting from everything for the beach, to kitchen supplies, thread for mending and holiday themed decorations. The store is also a draw for kids and teens, with toys, jewelry and clothes with them in mind—at Hoy’s signature low prices.
Price Tags
Then: Prices were handwritten on tags and placed on each item.
Now: For the last four years, Hoy’s has bar coded its inventory. But for the convenience of customers, store employees still hand stamp prices on each item.
At the Cash Register
Then: There were no such things as debit or credit cards, at first. Everything was a cash sale. The cash register also was not electric. Neither was the adding machine. You pushed in the number and pulled the lever. You counted the change into a customer’s hand. By the 1980’s, credit cards were more prevalent. Hoy’s used to receive thick books in the mail that listed bad credit cards. Employees would have to check the card number against the numbers in the book to make sure the card was good.
Now: Cash registers are not only electronic, they are computerized. The register automatically tells you the change to give. While cash sales still predominate, plenty of customers also rely on debit and credit cards. Countertop devices allow employees to instantly draw payment from a card.
Has Anything Stayed the Same?
The family owning Hoy’s 5&10 has remained the same over several generations now. Bernard Joseph Hoy founded the store, and managed the chain until the mid-1960’s. The business was then passed to his son, William R. Hoy, and his nephew, Bernard Joseph Hoy, Jr.
Today, the third generation is at the helm: David Hoy, co-owner with siblings Susan Hoy, Elizabeth Furcolo and Georgene Luttmann. (David is the only sibling currently active in the daily operations of the business.)
Hoy’s 5&10 is located at 34th Street and West Avenue in Ocean City, at 732 Asbury Avenue in Ocean City, at 219 96th Street in Stone Harbor and at 2800 Dune Drive in Avalon, N.J. All stores are open daily and you can visit Hoy’s online at www.hoys510.com or on Facebook and Instagram. Hoy’s is the fun place to shop!
