ADMS 1010 Lecture Notes - Timothy Eaton, Joint Venture, Mail Order
Document Summary
Eaton"s (dominance in the retail industry at first) Found by timothy eaton, selling low- priced wares and attire. 3 policies: cash only, a one- price system that eliminated bargaining, guarantee of goods satisfactory, money refunded. Established deferred payment plan: monthly payments would be made but the item wouldn"t be immediately received. The business expand national, later took over by his son john craig eaton and established mail- order departments. Eaton, opened a store in montreal to compete with existing competitors. The great depression had a negative impact on retailers and manufacturers, as sales dropped and those who wouldn"t compete with the competitors were forced out of business: minister of trade and commerce h. h. Stevens came to challenge the unhealthy business environment. Problem: the mass buying of huge department stores push their power in the destruction of small retailer, manufacturers struggled with the price dictation of mass- buyer, and lower wages were paid to factory workers.