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Canadian TireCanadian Tire is a Canadian retail hardware and home goods chain. It has a large selection of hardware, automotive, sports, camping, gardening and electronics products, and through its network of gas bars, is also Canada's largest independent gasoline supplier. The first Canadian Tire store opened on September 15, 1922 in Toronto, Ontario by J.W. Billes and A.J. Billes. This store, at the corner of Yonge and Davenport, remains in the chain today. In 1928, the store issued its first catalogue, becoming one of Canada's most famous mail order businesses. The company grew to over 450 stores today, and has remained in the Billes family -- Martha Billes, the current head of the company, is considered one of Canada's most powerful business women. As well, Canadian Tire owns Mark's Work Wearhouse, a popular Canadian chain of clothing stores. Canadian Tire's business strategy has never successfully translated outside of Canada. In the 1980s and 1990s, the chain tried to expand into the United States, and was met with failure both times. However, it remains one of Canada's most successful retail chains, successfully competing with the rise of big box stores, such as Home Depot, in the 1990s by redesigning and expanding many of its stores. The chain is also well-known for its advertising, with their commercials often being among the most memorable ad spots on Canadian television -- for many years, Canadian Tire's Christmas ads have featured Santa Claus and Ebenezer Scrooge arguing about whether Canadian Tire's great selection or their low prices are the better reason to do your Christmas shopping there. Canadian Tire Money Many Canadian households have a wad of Canadian Tire money stashed somewhere in a drawer. These are coupons issued by Canadian Tire, which resemble real currency (although the coupons are considerably smaller than Bank of Canada notes) and can be used as currency in Canadian Tire stores. In fact, Canadian Tire money has been successfully passed off as Canadian currency to American and Mexican tourists on a few occasions, and some privately-owned businesses accept it as payment as well, since the owners of many such businesses shop there. Canadian Tire money (CTM) is given out for purchases paid for by cash or debit, usually at a rate of 10 cents for every $5.99 spent before taxes. Customers can use Canadian Tire money to buy anything in the store. (Older CTM coupons state that they are redeemable at Canadian Tire stores and gas stations, however CTM coupons produced during at least the last 15 years lack this wording and are therefore redeemable in the stores only.) The "money" can also be used to cover the sales tax on the purchases, since it is accepted as cash after the taxes are calculated. Canadian Tire money was first introduced in 1958, as a response to the promotional giveaways that many gas companies offered at the time. It was only available at Canadian Tire gas bars, but was so successful that in 1961, it was extended to the retail stores as well, and has become the most successful loyalty program in Canadian retail history. An unusual incident occurred in Moncton, New Brunswick in late 2004, when several customers at a Canadian Imperial Bank of Commerce ATM were dispensed a total of 11 bills of Canadian Tire money instead of real bills. They were compensated by the bank. http://nb.cbc.ca/regionalnews/caches/nb-tiremoney-20041201.html Contrary to popular belief, the man on the "money" is not Canada's first Prime Minister Sir John A. Macdonald; it is actually a fictional creation named Sandy McTire. CTM coupons are currently produced in 5-cent, 10-cent, 25-cent, 50-cent, one-dollar, and two-dollar denominations. In addition, Canadian Tire money can now be earned electronically on Canadian Tire credit cards and the Canadian Tire Options MasterCard. The latter card can be used wherever MasterCard is accepted and earns Canadian Tire Money wherever it is used. Many customers find this to be a more convenient means of storing Canadian Tire money. Slogans External link
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