Did You Know?
In April 1994 Staples bought seven former Office America stores in Virginia, Arizona, and Kentucky and began to convert them to Staples outlets.
Staples was founded by Leo Kahn and Thomas G. Stemberg, who were former rivals in the New England retail supermarket industry, and Myra Hart. The idea for Staples originated in 1985, while Stemberg was working on a proposal for a different business.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by Staples.
Staples At A Glance – Staples SWOT Analysis
Company: Staples Inc.
Founders: Thomas G. Stemberg | Myra Hart | Leo Kahn
Year of establishment: 1 May 1986, Brighton, Boston, Massachusetts, United States
CEO: J. Alexander Douglas
Headquarters: Framingham, Massachusetts, United States
Employees (Dec 2020): 75,000
Ticker Symbol: SPLS
Annual Revenue (Dec 2020): US$8.6 Billion
Profit net income (Dec 2020): US$331.3 Million
Products & Services: selling office supplies | Business machines | Tech services | Copy and print center for photocopies | Digital printing | Faxing | Custom business cards | Custom rubber stamps | Promotional products | Binding | Lamination | Folding | Cutting | Engraved products.
Company Website: www.staples.com
Top Staples Competitors
Staples SWOT Analysis – SWOT Analysis Of Staples
SWOT Analysis Of Staples analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Staples SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Staples SWOT Analysis. Below Is The Detailed SWOT Analysis Of Staples.
Staples Strengths – Staples SWOT Analysis
1. Sustainable Brand: The Staple brand has a program dubbed “Eco Easy” program which gives its customers with eco-friendly recycling merchandise. It holds a significant part of the market as well as the image of the brand that is associated with Staple is that the products they sell are of premium quality. For many time, Staples has made sustainability an integral aspect of its identity. Staples aims to be a responsible global brand by making sure its products are sustainable and utilizing its position in market position to industry to inform customers on recycling and recycling.
2. Excellent Strategy: Staples has gained expertise the entry into new market and has had success. the expansion of markets has allowed the company to create new revenue streams and diversify economy cycle risks across the various markets it operates. It’s a major player on Omniand channels commerce strategy in order to satisfy customers “get-it-now” demands and also guaranteeing that customers will receive their order on the same day. By the year 2020 Staples is looking to concentrate on expanding the mid-market market of North America, cut back the costs of the company and continue to be successful throughout North America.
3. Omni-channel service: Staples is working to improve its mobile and online capabilities to enable customers to enjoy a distinct multi-channel shopping. The company is seeing great results in areas such as breakroom products, technology items and copy and print. It is aiming to ensure that its customers be able to shop with ease. The customers have an toll-free number that is available to engage in an online chat with the person in charge. This has helped ensure that customers are engaged as the primary goal of their multi-channel shopping. In the case of Staples outlet, customers be able to use both points Of Sale and also online checkout. They will also incorporate marketing strategies across channels that are available.
Staples Weaknesses – Staples SWOT Analysis
1. Strong competition: Staples is in a tough battle with firms such as Walmart, Office Max and Circuit city store, as well as Amazon. Although it is the largest supplier of office equipment, it’s not immune to the rigors of competitors. The competitive benefit that comes with Staple is it’s economics of scale and superior operating capabilities. But, this competitive advantage is fading because of a merging with OfficeMax with Office Depot and also threat by Amazon to its delivery service. The items at Walmart are significantly cheaper than those of Staples but Stales must capitalize the strengths of offering quality products.
2. R&D activities: Although Staples invests above average amounts in Research & Development but it has not been able compete with the other players. When it comes to the pace of innovation, Staples is lagging behind its rivals. Staples hopes to bring its own products built upon the tested features that are currently in the market. The two companies Amazon along with Walmart are building capabilities or purchasing them, and are also creating their own incubators. Walmart offers its own research and development company Walmart Labs, which invests in startups and businesses.
Staples Opportunities – Staples SWOT Analysis
1. New Technology: Staples utilize modern technology to offer distinct price options to customers. The company has been able to maintain loyal customers with their value-driven propositions. The company has a strong focus on the importance of innovation to offer a differentiating product that is available to customers. They also have the ability to record voice via Easy Button recording systems to quickly record items, talk about their demands and track shipment. It is a combination of the management of products with the latest technology.
2. Growth Acceleration: Staple’s expansion plan has allowed it to create new revenue streams, and has led to excellent performance in the newer markets. The company is contemplating to combine its online and retail offerings as well as increase its investment levels, introduce management changes, as well as initiate an multi-cost savings plan and revamp the operations within its internal processes. The strategies all aim at increasing the rate of growth and increasing productivity. When implemented correctly, these strategies can create greater potential for growth and expansion of Staples.
Staples Threats – Staples SWOT Analysis
1. Counterfeit products: Counterfeit is a trillion-dollar problem that poses a major risk to any company. It is among the largest threats on the internet. The amount of counterfeit office products is growing and these products are now available on the world market. Marketing costs also rise when sellers who are not legitimate offer higher prices for cost of advertisements and reduce legitimate SEO starts. It can affect your loyalty, and the value of customers. Staples have come up with counterfeit detector pen that can identify counterfeit office equipment, but the risk from it is still very real.
2. Currency Fluctuations: The company operates in a variety of countries and is prone to fluctuations in the currency. It is required to deal with the uncertain political climate in diverse markets. For a business like Staples it can be difficult to forecast its profits. If the company is predicting to make a certain amount every year, it will be faced with a significant decrease or increase based upon the rate of exchange.
3. No differentiation point: In the 1990s, and the early the 2000s Staples sold office equipment, computer hardware and software . It was regarded as a distinctive brand positioning however, with the help of companies like Office Depot and Office Max have also grown and gained substantial market share. Walmart also began selling similar products, and Amazon began to sell office supplies with better delivery services. Therefore, it is essential for companies to improve its customer experience, and Staples has to find an improved differentiation point. distinction.
Staples SWOT Analysis Overview Template
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