Staples Swot Analysis – Swot Analysis Of Staples: Staples, Inc. is an American multinational office supplies retailer. It has around 1,500 stores in North America and is headquarteredFramingham, Massachusetts it opened its first store in Brighton, Massachusetts. Staples has business relationships with major corporations across Canada as well as the USA.
It sells office equipment as well as office supplies, technology&business services, and printing services through both online and physical stores. It caters to a wide array of businesses from sole proprietors to Fortune 100 Companies. Staples ensures that it stocks all office equipment that a business could require.
Staples fun facts: In April 1994 Staples bought seven former Office America stores in Virginia, Arizona, and Kentucky and began to convert them to Staples outlets.
About Staples – SWOT analysis of Staples
Company: Staples Inc.
CEO: J. Alexander Douglas
Founder: Thomas G. Stemberg | Myra Hart | Leo Kahn
Year founded: 1 May 1986, Brighton, Boston, Massachusetts, United States
Headquarters: Framingham, Massachusetts, United States
Annual Revenue: US$8.6 Billion
Profit | Net income: US$331.3 Million
Number of employees: 75,000
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
SWOT analysis of Staples – Staples SWOT analysis
SWOT Analysis Of Staples is brand-based. SWOT Analysis of Staples evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Staples’s SWOT Analysis. Below is the detailed SWOT Analysis of Staples.
Let’s talk about Staples’s SWOT assessment.
Strengths of Staples – Staples SWOT analysis
1.) Sustainable Brand
The Staple brand offers a program called the “EcoEasy” program that provides its customers with eco-friendly as well as recyclable merchandise. The company has a substantial part of the market as well as the image of the brand that is associated with Staple is that its products are of top quality.
For many several years, Staples has made sustainability an integral part of its identity. Staples aims to be an environmentally responsible company by making sure its products are sustainable and utilizing its position in the market position industry to inform its customers about recycling and recycling.
2) Excellent Strategy
Staples has developed expertise in entry into a new market and achieving success. the expansion of markets has allowed the business to develop new revenue streams and diversify market cycle risks across the various markets that it operates.
It’s a major player in Omnithe channel’s commerce strategy in order to satisfy customers’ “get-it-now” demands and also guarantee that customers get same-day delivery. In 2020, Staples will be focusing on expanding the mid-market market within North America, cutting back the costs of the company, and continuing to be successful throughout North America.
3) Omni-channel service
Staples is working to improve its mobile and online capabilities to enable customers to have unique multi-channel shopping. The company is seeing great results in areas such as breakroom equipment, and technology products such as copy and print. It would like its customers to enjoy a seamless shopping experience.
Customers are given a toll-free number that is that they can call to get a live 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 receive both points Of Sale and also online checkout. They will also combine marketing efforts across channels available.
Weaknesses of Staples – SWOT Analysis Of Staples
1.) Strong competition
Staples is in a tough battle with firms such as Walmart, Office Max, Circuit City stores, as well as Amazon. Despite being the biggest distributor of office equipment, it’s not immune to the rigors of rivalries.
The competitive benefit that comes with Staple is its economics of scale and its excellent operational capabilities. However, its competitive advantage is being diluted due to the combination of OfficeMax with Office Depot and also the threat by Amazon in its delivery business. The items at Walmart are significantly less expensive than those at Staples but Stales must capitalize on the strengths of offering quality products.
2.) R&D activities
Although Staples invests more than average amounts in Research and Development, however, it hasn’t been able to compete with the other players. When it comes to technological innovation, Staples is lagging in comparison to its rivals. Staples hopes to bring out products built on the proven features of the market. The two companies Amazon as well as Walmart are building capabilities or purchasing them. They are also creating their own incubators. Walmart offers its own research company Walmart Labs, which invests in startups and businesses.
Opportunities of Staples – Staples SWOT analysis
1.) New Technology
Staples make use of modern technology to offer distinct price options for customers. This has allowed the company to keep loyal customers by delivering its value-driven offerings. It has emphasized the importance of innovation to provide a distinct 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 and technology.
2.) Growth Acceleration
Staple’s expansion plan has enabled it to develop new revenue streams and has resulted in an outstanding performance in the newer markets. It is currently looking to join its online and retail offerings as well as increase its investment levels, introduce changes in leadership, and also launch the multi-cost savings program and revamp its internally-operating business. The strategies all aim to accelerate growth while also increasing efficiency. If implemented correctly, these strategies will create more chances for expansion for Staples.
Threats of Staples – SWOT analysis of Staples
1) Counterfeit products
Counterfeit is a trillion-dollar issue and poses a serious risk to any brand. 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 market. Marketing costs are also rising when illegal sellers offer higher prices for the cost of advertisements and reduce legitimate SEO starts. This impacts customers’ loyalty as well as the lifetime value of consumers. Staples have created a counterfeit detection pen that can identify counterfeit office supplies, but the risk from this remains a real threat.
2.) Currency Fluctuations
The company operates across multiple countries, which means it is subject to fluctuations in currency. It must contend with the uncertain political climate in different markets.
For a business like Staples, it can be difficult to forecast its profits. If the company is predicted to make a certain amount every year, it could face a substantial reduction or an increase depending on the rate of exchange.
3.) There is no point of distinction
In the 1990s, and early in the decade 2000, Staples sold office supplies, computer hardware, and software. It was regarded as a distinctive brand positioning however, other companies such as 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 products with a better delivery service. Therefore, it is essential for companies to improve their shopping experience for customers and Staples must create an improved place of distinction.
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Overview Template of Staples SWOT analysis
The strategic analysis of Staples Inc., reveals that it has been enjoying a very well is well-established company that is known for providing quality products to its customers. By careful consideration of its external and internal environment and keeping in mind the interests of its stakeholders, it has been able to establish itself as a leader in the office supplies business. Staples is competent in carrying out its business activities. It is recommended that it applies the new corporate strategy highlighted in this report to gain a competitive advantage in the marketplace for a long sustainable period.
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