Richard Warren Sears started off selling pocket watches - then published a catalog full of hundreds and hundreds of products from shotguns to cocaine wine. Sears & Roebuck offered even Americans living on remote farms the chance to shop like city dwellers. The catalog became an American institution - the Amazon of the 1890s - but as the nation changed, Sears adapted too and built a vast chain of physical stores. 

Sears felt so secure that it built the world's tallest office building to house all its staff - but then came competition from specialist big-box stores and out-of-town megastores. Sears found itself in a death spiral and couldn't pull out.