Why Office Suppliers Are Getting Hit Hardest In Retail Closures

Retail stores took a big hit during 2020. Consumers slowed spending and adjusted to pickup and delivery models. Office suppliers, perhaps, took a large brunt of the blow. How have they adjusted during all these changes? What business strategies worked or didn’t, and how can retailers adjust moving forward.

Marketscale TV Host Hilary Kennedy talked with Jason Stuckey, General Manager of US Operations of Linnworks, and Carlos Castelán, Co-Founder and Managing Director of The Navio Group, about the state of retail.

 

Some of these trends were already in motion when COVID-19 hit, and the pandemic shortened the timeline. In a UBS report, one in 11 stores will close in the next five years, with office suppliers being one of the hardest hit. According to a real estate data firm Green Street Advisors, even after stores have been reopening, customers have been slow to return, with foot traffic down 30 percent at malls.

“Some industries, more than others, have adapted,” Stuckey said. “What’s happening in a lot of industries, particularly office supplies, isn’t a drop in market demand, but a major shift in what products are demanded and how the consumer wants those products to be delivered.”

At his company Linnworks, Stuckey elaborated that in-office cartridges dropped off the map, but in-home cartridges went off the charts. Understanding these changes will help companies be flexible, and that’s why Office Depot and Staples have shifted their strategies.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

2024
Mark Tina Envisions Differences to the Verizon Partner Network in 2024
December 1, 2023

In the dynamic telecommunications landscape, Verizon’s Partner Network continues to evolve, adapting to new trends and opportunities. For another segment featuring Mark Tina, VP of Indirect Channel Distribution and Channel Chief at Verizon Business Group, he explores exactly what types of significant changes and advancements the Verizon Partner Network will see in 2024. In this […]

Read More
verizon business group
Mark Tina Explores the Importance of Partners in Verizon Business Group Success
December 1, 2023

A special episode of The Verizon Partner Network focuses on an examination of an industry marked by fierce competition and rapid innovation. But most importantly, how the role of partnerships in a company’s success is increasingly vital. Mark Tina, the VP of Indirect Channel Distribution and Channel Chief at Verizon, details why partners are essential […]

Read More
aspects
Mark Tina Highlights Three Pillars of Success in Verizon’s Partner Network
December 1, 2023

For a continuation episode of The Verizon Partner Network’s special segment with team leaders, Mark Tina, VP of Indirect Channel Distribution and Channel Chief at Verizon Business Group, joined again to outline the three top aspects that define the Verizon Partner Network and its approach to collaborative success. The video centers on Tina’s explanation of […]

Read More