When it comes to retail - there are only two companies that people talk about today: 1. WalMart and 2. Amazon; but you will be surprised to know that the company that ruled the retailing world between 1900 and 1990 is today struggling to be in business. Nothing lasts forever.
The Company I am talking about - Sears
Sears was indisuptable market leader till 1990
The best part: If you look at the history, it's amazing that Sears did almost the same thing back in 1900s what Amazon is trying to do today. It created a new business model by killing negotiated selling at local level. Sears started as mail ordering business - it published a catalog (500 pages), listed items with fixed prices and its catalog reached remotest parts of America. Sears in this way was able to sell its merchandise to even the most remote parts of America. It became a big cultural thing to place orders from home on mail. The catalog was free and people used to value it. You see History rhymes - now people look up on Amazon 🙂
Sears did a successful IPO - probably the first retail IPO in 1906. Sears kept on innovating and created a consumer revolution by ideas like Sears Wish Book around Christmas time
All Good things come to an end one day. Then Sam Walton started WalMart and he changed the face of retailing. Now Jeff Bezos is the leader. But always remember - If one thing we can learn from History: Nothing Lasts forever. Things keep changing but it's fascinating how similar the story sounds
I hope you found the story interesting.