History of Retail Industry

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Module 7 Research Paper

Table of Contents
History of Retail Industry ............................................................................................................3
Corporate Stakeholders ...............................................................................................................5
Role of Retail Industry in its social, economic, and political setting……….............................5
Domestic and International Ethics...............................................................................................6
Ecological and Natural Resources……………………………………………………………..6
Social Issues……………………………………………………………………………………..8
Rating on Retail Industry’s Overall Social Responsiveness ………………………………...9
References……………………………………………………………………………………….10

History of Retail Industry

Retail history goes back all the way into the 1800s. Granted a retail business now compared to back in the 18th century is night and day. Retail in the 18th century was considered a general store only in populations over 5000 and would consist of items that were necessities. Like today, you don’t have multiple retail stores to choose from like Wal-Mart, Target and Kmart. There was one store and that was all shoppers had to buy from. Department stores were gradually introduced which gave customers a chance to choose between brands and products at one location. From JC Penney founded in 1902, to Piggly Wiggly in 1916 who was the first to offer checkout lines and self service. In 1961, Target was founded with Wal-Mart in 1962 and Kohls right behind them in 1963. It wasn’t long and Best Buy, Kmart, TJ Maxx, Costco, and many more retail stores opened their doors to the industry of shopping. It didn’t take long for the retail industry to take off and attract consumers of all kinds with the convenience of shopping and with it came an experience as well. From department stores to grocery stores they transformed their ways of selling to gives customers not only the products they want but the atmosphere that was appealing. With Wal-Mart opening its doors in 1962 it made the 1960s the revolution in the world of retail. Today, retail industry is booming, yes with the recession it hurt some of the smaller businesses but for the most part they have stayed afloat. We did lose some big retail businesses in 2008 such as Linens N Things, Mervyns and Circuit City. Consumers are going to continue to spend regardless of the economic state of our country and especially with the online retailing that was introduced in the 1990s. Buying and spending money has been that

The History of Retail
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1946 Zero foods founded
1951 Caldor stores founded
1961 Target stores founded
1963 Kohls founded
1962 Wal-Mart stores founded as well as Best Buy
1977 TJ Maxx founded
1990 Walmart becomes worlds largest retailer
1995 Amazon.com launched
1974 First use of bar code
1983 Costco Wholesale formed
1999 Kmart celebrates 100th anniversary
2002 Walmart introduces dollar store sections
2008 Linens and THings , Mervyns, Tweeter, and Circuit City files for bankruptcy 2007 CompUSA announces clsoing
2009 Microsoft announces open 1st retail store
1951 Caldor stores founded
1902
JC Penney founded
1915 The Upham's Corner Market Co founded
1916 Piggly Wiggly grocery store chain founded
1934 Service Merchandise founded
1929 Kresge Company founded

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