14.27 F14 History of Retail Lecture Slides

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14.27 F14 History of Retail Lecture Slides

A Brief History of Retail in the US 1 19th Century • US predominately rural, very sparsely populated compared with Europe • Transportation difficult, dangerous, expensive • Railroads made transportation much easier and cheaper, especially for goods • Innovations in efficient transportation of people lagged (automobiles, paved roads, etc.) 2 Railroads in 19th Century and beyond 3 Automobile routes in 1907 4 • 1872: Aaron Montgomery Ward founded first mail-order house to use catalogs as its primary promotional tool – Located in railroad hub of Chicago • 1875: US Postal Service introduced favorable rate for bulk mailings • 1885: Bulk mailing rate lowered again • 1893: Rival Richard Sears began offering a general merchandise catalog – Operations also in Chicago – Soon as large as 786 pages 5 6 Images are in the public domain. 7 Images are in the public domain. Courtesy of Sears, Roebuck & Co. 8 • 1890’s: USPS began rural free delivery, parcel post system (previously handled by private express companies) – Postmaster general was department store magnate • 1907: United Parcel Service founded, focused on package delivery for stores • Circa 1925: Golden age of mail order – Sears + MW sold over $400 m of goods annually – Sears’ sales alone accounted for over 2% of total farm cash income 9 • 1925: Sears opened first physical store • 1931: Sears store sales eclipse catalog sales • 1933: Sears had 400 stores • 1900-1950: Two changes – Demographic shift towards urban living – Transportation costs for people falling relative to that for goods • 1973: Federal Express began air shipments • 1975: ICC granted UPS authority to ship to every addre3ss in contiguous 48 states 10 • 1993: Sears discontinued publishing big-book catalog • Late 1990’s: Mail-order dominated by specialty retailers, not general merchandisers • 1992: US Supreme Court decision solidifying the right of mail-order businesses to not collects and pay sales tax for out-of-state customers 11 MIT OpenCourseWare http://ocw.mit.edu 14.27 Economics and E-Commerce Fall 2014 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms..

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KT 30-8-2016.Qxp Layout 1
SUBSCRIPTION TUESDAY, AUGUST 30, 2016 THULQADA 28, 1437 AH www.kuwaittimes.net Kuwait, Swiss Brussels crime Rousseff Rangers hang sign MoU on lab attacked urges Senate on to edge development, to ‘destroy to vote Indians, build cooperation3 evidence’7 against 9‘coup’ AL20 West lead Amir meets new heads of Min 28º football, Olympic bodies Max 47º High Tide 09:46 & 23:38 Police seize sports offices IOC, AFC concerned Low Tide • 03:57 & 15:22 40 PAGES NO: 16978 150 FILS KUWAIT: Authorities ordered police to seize the state’s football association and Olympic committee offices. The US alarmed as action on Sunday heightened a standoff that has seen Kuwait suspended by the International Olympic Turkey strikes Committee (IOC) and world football’s governing body FIFA since October. The country did not take part in this Kurdish militia year’s Rio Olympics and will not contest the qualifiers for football’s 2018 World Cup. ISTANBUL: Turkey warned yesterday it would carry As part of his keenness on the issue, HH the Amir yes- out more strikes on a Syrian Kurdish militia if it terday received top officials of the two interim commit- failed to retreat beyond the Euphrates River, as tees tasked with taking care of affairs at the Kuwait Washington condemned their weekend clashes as Olympic Committee (KOC) and the Kuwait Football “unacceptable”. Turkish forces pressed on with a Association (KFA). The Amir encouraged the officials to two-pronged operation inside Syria against Islamic exert utmost efforts to promote the sports and youth State (IS) jihadists and the Syrian Kurdish People’s sector in Kuwait, and to bring those who break the law Protection Units (YPG), shelling over a dozen tar- to justice.
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