Staples - Statistics & Facts
Staples, inc. is an office supply retailer based in the United States. The company opened its first store in Boston in 1985 and has since expanded throughout North America and overseas. The retailer provides office and school supplies, office furnishings, electronics, software, snack and beauty products, as well as offering printing and technological services. Apart from over 2,000 Staples retail stores operating worldwide, the company also has a strong online presence.
In 2017, Staples was acquired by Sycamore Partners a private equity firm based in New York. Staple's has been struggling to revive it's falling sales as individual and business customers increasingly turn to online shops, such as Amazon, that can afford to offer deep discounts.
Financial struggles
Staples is known for bringing technology and people together in innovative ways to consistently deliver products, services and expertise that elevate and delight customers. Staples is in business with businesses and is passionate about helping businesses work better. However, in recent years, their total sales revenue has declined sharply. In 2020, Staples had sales of approximately 8.67 billion U.S. dollars, a sharp decline from 2011, when they had sales of 24.7 billion U.S. dollars.Branding woes
The company's advertising expenditure has also dropped showing a noticeable shift in marketing tactics from the retailer known for their memorable “That was easy” sales campaign. The 2005 ad campaign featured disgruntled office employees presented with a large, red push-button marked “Easy”. Upon pushing, the button chimed “that was easy!” while magically renovating their office space with the most up-to-date equipment and furniture, all available at Staples.In 2017, Staples was acquired by Sycamore Partners a private equity firm based in New York. Staple's has been struggling to revive it's falling sales as individual and business customers increasingly turn to online shops, such as Amazon, that can afford to offer deep discounts.
