NYSL Promotions Identifies Innovators That Truly Changed Retail As We Know It
When you think about innovation, your mind probably jumps to the high-technology industry. However, there are innovators in every area of business. Recently at NYSL Promotions, we have taken an interest in the people and organizations that made the retail industry what it is today.
For example, Wanamaker’s Department Store was one of the earliest department stores. Although not the first, it definitely influenced these stores to become how we experience them today. Their focus on modern price tags, a casual shopping experience, and reducing reliance on salespeople truly changed the face of the industry.
Today, most people know Sears as a home goods department store. However, it began as a retail catalog. Again, it wasn’t the first, but it truly cultivated the medium. Consumers trusted the quality of goods they ordered through the Sears catalog, allowing it to quickly expand to a wide scale.
More recently, Wal-Mart began a new trend in retail. Not only is it innovative because of its emphasis on low prices and a customer-driven environment, but it also changed the nature of retail business relationships. Wal-Mart famously uses its size in order to get the best prices possible from its vendors.
Many businesses changed the face of brick-and-mortar retail. In the late ‘90s, Amazon.com and EBay brought the industry online. Between all of these innovators, we have a retail experience that is vastly different than it was in the past. It is truly incredible how creators and entrepreneurs can change the face of an industry.