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Yong Troy (33)
Lecture 6

Week 6 - the rise of the canadian consumer and canadian retail [p2]

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Department
Administrative Studies
Course
ADMS 1010
Professor
Yong Troy
Semester
Fall

Description
Week 6The Rise of the Canadian Consumer and Canadian RetailADMS 1010TroyPart IIHistory of Canadian RetailHudsons Bay Companyo Formed by Royal Charter in May 1670 granting the lands of the Hudson Bay watershed to the companyo Was once the largest landowner in the world owning 15 of the North American continent o Forts were built throughout the area Natives would bring furs to the forts in exchange for goods produced in England knives kettles blanketso Eventually expanded along rivers deeper into the West with outposts eventually growing into cities Winnipeg Calgary and Edmonton o Merged with the North West Company in 1821 and had spread to the Pacific Northwest and the Norththo As the fur trade waned in the 19 century started turning more and more to retail operationso HBC sold much of its land holdings over to the new country being formed and found new clients with the rise of the Gold Rush o In 1912 opened its first department stores in Victoria Vancouver Edmonton Calgary Saskatoon and Winnipego Became a truly Canadian company in 1970o Diversified its product offering and purchased many different competitors Zellers Simpsons KMartEatonso Founded in Toronto in 1869 by Timothy Eaton o The original store was a dry goods and haberdashery at 178 Yonge Street and had a staff of 4 Moved to 190 Yonge Street in 1883o Continued to grow by 1911 Eatons employed over 17500 people and by 1919 covered over 60 acres of space between Yonge and Bay north of Queen Street coincidently the current location of the Eaton Centre o Expanded into the west with its catalogue businesso They opened a store in Winnipeg to handle the western businesso This department store was considered the most profitable in the world with locals spending 50 of their retail dollars in this storeo By the 1930s Eatons controlled over 60 of all department store sales o Eatons started its catalogue business in 1884
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