Did You Know?

Happy New Year from 8th & Walton. This issue’s Retail Details includes an eclectic mix of facts surrounding retail’s history, as well as its future on omnichannel opportunities. We’ve even snuck in a tidbit about America’s favorite beverage.

 

Did you know that Apple had three founders?

When a young Steve Jobs and Steve Wozniak decided to start their business, they needed someone who actually knew how to do business paperwork. That man was Ron Wayne, a former colleague of Jobs. Wayne was given 10-percent ownership of Apple for his troubles, but sold it for $800 (Yes, you did read that correctly.) after two weeks of co-ownership in the fledgling enterprise.

 

Did you know that the oldest retailer in the United States is Brooks Brothers, which has been in business since 1818?

Back then, it was known as H. and D.H. Brooks and Company. Another fun fact about retail history: Despite its reputation as a trendsetter for the “cool kids,” Abercrombie & Fitch got its start in 1892.

 

Did you know that, despite the proliferation of retail coffee shops, most cups of coffee aren’t enjoyed in these establishments?

According to a 2015 survey by the National Coffee Association, 74 percent of respondents said they drank yesterday’s coffee in their own homes.

 

Did you know that the top shopping apps over the 2015 holiday season were the same in both the United States and the United Kingdom?

According to App Annie, the top three were Amazon, ContextLogic’s “Wish” and Walmart’s Savings Catcher.

 

Did you know there are several thousand stores in the U.S. that specialize in serving the college market?

The National Association of College Stores estimates there are 4,500 to 5,000 stores targeted toward college students, selling school supplies, course materials, logo merchandise and snacks. Another fact: Student spending on course materials has decreased over the years. In the 2007–08 school year, average annual spending was $701. In 2014–15, that amount was down to $563.