History of Retail Industry
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
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
References: Retail. (2010). Retrieved from http://www.ceres.org/roadmap-assessment/sector-analyses/retail Wal-Mart. (2012, December 9). History timeline. Retrieved from http://corporate.walmart.com/our-story/heritage/history-timeline https://corporate.target.com/about/history/Target-through-the-years (2012, March). In Starbucks Ethical Coffee Sourcing and Farmer Report. Retrieved November 8, 2012, from http://assets.starbucks.com/assets/6e52b26a7602471dbff32c9e66e685e3.pdf Clean by design. (n.d.). Retrieved from http://www.nrdc.org/international/cleanbydesign The evolution of retailing. (2009, 12). Retrieved from http://www.kpmg.com/CN/en/IssuesAndInsights/ArticlesPublications/Documents/Evolution-retailing-o-200912.pdf Ken, A. (2012, March 31). Wal-mart company. Retrieved from http://public-company.ezinemark.com/wal-mart-company-7d35346820c5.html