Helen thought for a moment and said, "Are you referring to the A&P business model?"
A&P started in 1859 with mail-order tea, which can be regarded as one of the earliest forms of retail in the United States. Before then, Sears, Roebuck and Company, which went public with the help of Goldman Sachs, also started with mail-order. A&P formally entered the retail business at the end of the 19th century.
At that time, the price of tea was exceedingly high, so the company used mass purchasing to lower the cost of goods and then promoted the practice of low-profit multiple sales through advertising.
Later, around 1878, the US Congress significantly raised the tariffs on tea and coffee, causing the profits from these two businesses to plummet. As a result, A&P began to venture into the retail industry.
