What made maritime fur trading so profitable
1. High demand for fur: During the 18th and 19th centuries, fur was highly sought after in Europe for fashion and as status symbols. This high demand drove up prices and made fur trading very profitable.
2. Limited competition: In the early days of maritime fur trading, European explorers and traders had limited competition from other foreign powers. This allowed them to establish strong relationships with indigenous tribes and monopolize the fur trade in certain regions.
3. Strategic locations: The locations where fur-bearing animals were abundant, such as the Pacific Northwest and Alaska, were often difficult to reach and required specialized knowledge of the terrain and native peoples. European traders who were able to establish trading posts in these regions had a significant advantage over their competitors.
4. Advances in transportation: The development of faster and more seaworthy ships, as well as improvements in navigation techniques, made it easier for European traders to reach remote fur trading posts and transport furs back to Europe more quickly and efficiently.
5. Established trade networks: European traders were able to tap into existing indigenous trade networks and establish mutually beneficial relationships with indigenous tribes. This enabled them to acquire fur in exchange for European goods and technologies, making the fur trade even more profitable.
Overall, the combination of high demand, limited competition, strategic locations, advances in transportation, and established trade networks all contributed to making maritime fur trading a highly profitable venture during this time period.