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  • Zellers

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    Zellers Inc. was a major Canadian chain discount department retailer based in Brampton, Ontario. It was founded in 1931, and was acquired by Hudson's Bay Company (HBC) in 1978. A series of acquisitions and expansions allowed Zellers to reach its peak in the 1990s, with 350 stores across the country in 1999. However, fierce competition by Walmart Canada and an inability to adjust to the increasingly volatile retailing industry resulted in Zellers losing significant ground in the 2000s. At the same time, HBC's new owner NRDC Equity Partners was focusing on bolstering and re-positioning Zellers' sister chain, The Bay, with an upscale and fashion-oriented direction, and saw Zellers as a determent to the turnaround. In January 2011, HBC announced that it would sell the lease agreements for up to 220 Zellers stores to the U.S. chain Target for $1.825 billion. In turn, Target announced its intent to convert a large number of them to Canadian locations of Target, and re-sell the remainder to other parties such as Walmart Canada, resulting in their liquidation and eventual closure. While HBC retained 64 Zellers locations, it announced on July 26, 2012 that the majority of them would be liquidated and closed by March 31, 2013 due to their lack of profitability. Two Zellers-branded stores continue to operate in Ontario, which operate as liquidation stores for HBC's other banners.

  • Scrip

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    Russian-American Company parchment scrip (1 Ruble), from between 1826 and 1858. A scrip (or chit in India) is any substitute for legal tender. It is often a form of credit. Scrips have been created for payment of employees under truck systems, and for use in local commerce at times when regular currency was unavailable, for example in remote coal towns, military bases, ships on long voyages, or occupied countries in wartime. Besides company scrip, other forms of scrip include land scrip, vouchers, token coins such as subway tokens, IOUs, arcade tokens and tickets, and points on some credit cards. Scrips have gained historical importance and become a subject of study in numismatics and exonumia due to their wide variety and recurring use. Scrip behaves similarly to a currency, and as such can be used to study monetary economics.

  • Drop (loyalty program)

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    Drop is a coalition customer loyalty program, in which users earn points using their linked debit or credit cards. Users choose five rewards partners such as Starbucks, Sephora, Whole Foods Market and Uber to earn points with. Drop is a Toronto-based company which was founded by Derrick Fung, Darren Fung, Cameron Dearsley, and Akhil Gupta in August 2015. The program started in the Canadian market during August 2015 and expanded into the American market during October 2017, after a six-month private beta. The Drop Rewards program requires that users download a companion app on an iOS or Android device. According to Drop, the service was designed as a way for brands to earn exposure with millennials. As of November 2017, the company had 500 thousand users. This number has since risen to 1 million users as of January 2018.

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