Several office supply chains, including Office Depot and Staples, have announced that they will be closing some of their locations this spring.
If you need to stock up on office supplies, you might want to hurry up and visit your local store before it’s too late. Several office supply chains, including Staples, have announced that they will be closing some of their locations this spring.
Why are office supply stores closing?
The office supply sector has been struggling for a while due to several factors, such as increased competition from online retailers like Amazon, changing consumer preferences and habits, and the impact of the COVID-19 pandemic on work-from-home trends.
In addition, office supply stores have been facing declining retail sales in general, as inflation has soared and consumers have cut back on discretionary spending. According to the U.S. Department of Commerce, retail sales fell 0.4 percent in February 2023 from the previous month.
To cope with these challenges, some office supply chains have decided to optimize their store footprint and reduce their costs by closing underperforming or redundant locations.
Which office supply stores are closing?
One of the most well-known office supply chains that is planning to shutter some of its stores is Staples. The company will be closing a store in Staten Island, New York, on April 14. The store has posted signs informing customers of its upcoming closure and offering discounts on its remaining inventory.
Another major office supply chain that is undergoing a restructuring plan is Office Depot. The company said it plans to cut about 13,100 jobs and close certain retail stores by the end of 2023. The company expects to save up to $860 million by doing so and focus more on its IT services business units.
So far, Office Depot has confirmed that it will be closing two stores in Florida: one in Jacksonville on February 4 and one in Orlando on March 25. Both stores have also displayed closing signs and offered sales promotions ahead of their final days.
How will this affect customers?
The closure of these office supply stores may inconvenience some customers who rely on them for their work or personal needs. However, these chains have assured that they will continue to serve their customers online or at nearby locations that remain open.
For example, an Office Depot spokeswoman told the Orlando Business Journal that "we will continue to serve local customers at nearby Office Depot stores." Similarly, a Staples spokesperson told SILive.com that "customers can continue shopping with us online at staples.com or at any other nearby Staples location."
What are your thoughts?
Are you sad to see these office supply stores close? Do you still shop at them or do you prefer online alternatives? How do you think this will affect the office supply industry in the long run?
Share your thoughts and experiences in the comments below!