Report: Office Supply Chains Still Struggling with Recovery
While other retail sectors, such as grocery and home improvement, have used the pandemic to grow their businesses, office supply stores like Staples and Office Depot are still struggling, Placer.ai says in a new report.
“The rise of Amazon and other eCommerce competitors, and a struggle to clearly differentiate against retail giants like Walmart and Target, limited the success of players like Office Depot and Staples,” the report says.
A traditional source of late-summer revenue for the office supply sector, back-to-school season, is drying up, says Placer.ai, based on the firm’s analysis of foot traffic to these channels. “Visits the weeks beginning August 2 and 9 were down an average of 23.4% for Office Depot and 19.9% for Staples compared to the equivalent weeks in 2019,” the report reads.
Both Staples and Office Depot may be seeing shoppers gobbled up by competitors like Target and Walmart (which are both seeing increases in foot traffic), Placer.ai’s analysis says.
That being said, the report says that visitor numbers should increase again over August and into September, as students head back to school, and some offices reopen. Plus, both Office Depot and Staples may find ways to capitalize on increasing demand from fresh employees working from home — which Placer.ai sees as something to keep an eye on.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).