Sears Essay

3637 Words 15 Pages
Industry Analysis

John Wanamaker created the first department store in 1876. This was a new idea of combining many specialty stores into one large store. Wanamaker also pioneered the use of price tags, money-back guarantees, newspaper ads, and white sales. His first store was a men's' and boys' clothing store in partnership with his brother-in-law Nathan Brown. Business grew during the Civil War, and by 1872, was the largest clothing retailer in the nation. A much larger store was created in 1876 which sold men's and women's clothing as well as dry goods, housed in a former railroad depot. In 1877, he added several other "departments" under the same roof. Wanamaker opened a second store in New York City in 1896, and continued
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<ul>

<li> There will always be a demand for goods carried in department stores.
<li> A variety of niches available for retailers to fill.
<li> Department stores carry a wide variety of products and services.
<li> Department stores tend to be cheaper than specialty stores.
<li> Store loyalty is prevalent in the retail industry.

</ul>
History/Background

Sears, Roebuck & Co. first started in 1886 when Richard Sears started selling watches to supplement his income. In 1887, Sears settles in to the company's first location in Chicago and hires a watchmaker Alvah C. Roebuck. In 1883 the corporate name became Sears, Roebuck & Co. and in 1925 Sears opened its first retail store on Chicago's' west side. Sears is a multi-line retailer that offers an array of merchandise and related services in the United States. The Company is organized into four principal business segments: retail and related services, credit and financial products, corporate and other and Sears Canada. The retail and related services segment consists of full-line stores, specialty stores, direct-to-customer and product repair services. The Company has 872 full-line stores which are located primarily in shopping malls across the United States.

The stores offer hard lines, which include a full assortment of appliances, electronics and home

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