T. Eaton Co.

2252 Words10 Pages
T. Eaton Co. Limited, or more commonly known as Eaton’s, was founded in Toronto in 1869, by Timothy Eaton . It was one of the most successful department store retailers in Canada during the late 1800s to mid 1900s. Timothy Eaton’s success can be attributed to his strategy of appealing to the upper working class with disposable income and lower middle class as this reached a larger consumer base. Moreover, his introduction of the mail-order catalogue, his determination and detailed attention to the company’s accounting and finances, the increased urbanization and living standards, along with many more factors, led to Eaton’s success. Despite Eaton’s downfall in the 1970s, and finally bankruptcy in 1999 , it is undeniable that Eaton made some innovative changes to the retail landscape that differentiated itself, and are still present to this day. Firstly, all goods were sold at fixed cash prices, such that there would be no bartering, or price negotiations; so goods could not be purchased on credit. The introduction of the money-back guarantee was effective in gaining the loyalty of its customers: “Goods Satisfactory or Money Refunded” . Timothy Eaton a very proactive individual and the purpose of his retail department store was generally to cater to the upper middle class and lower middle class during the very early 1900s. This is in contrast to what their competitors were doing, Simpson’s and Morgan’s, as they focused on the more affluent and very well off. His rationale
Open Document