Business Concept That Changed History

A business concept that has changed history

Over the last 40 yrs there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the last forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. Department stores were identified by the products they sold. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items.

Local specialty stores were replaced by the supermarket. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores as owners were unable to compete with the bigger chains that offered consumers a wide variety of products.

Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for consumers to shop. For example, stores such as Wal-Mart and Target have expanded their product line and introduced grocery sales, in addition to the products they sold. Wal-Mart introduced this new concept in their Hyper-Mart stores, while Target opened their new Super Target stores. Consumers were able to go to one store and purchase anything from a toothbrush to fresh meat products. At some Hyper-Mart stores, consumers