Please ensure Javascript is enabled for purposes of website accessibility

Staples Has a New Plan to Take On Amazon

By Daniel B. Kline - Feb 11, 2020 at 12:18PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Can the struggling retailer reinvent itself?

Amazon (AMZN 0.25%) made it so small business owners no longer have to go to an office supply chain like Staples to buy, well, office supplies. It has been easier to order from Amazon than go to a physical store for a long time so Staples needs to give its former customers a reason to come in.

The struggling chain is trying to do that with a model store it's trying in six locations near its Massachusetts headquarters. The concept, Staples Connect, is "built around the ever-evolving needs of the retail customer with a focus on community, hands-on learning and solutions," according to a press release.

A Staples Connect co-working space.

Staples Connect stores will have co-working spaces. Image source: Staples.

What is Staples Connect?

The six pilot stores offer co-working space (which requires a membership), a podcast studio with available help for customers who need it, meeting/event space, and SolutionShop, a store-within-a-store that offers everything from marketing help to printing services, and TSA pre-check enrollment.

"We recognize that the way people shop is changing, and with the launch of Staples Connect we are adapting to fit the needs of our customers," said Staples U.S. Retail CEO Mike Motz in the press release.

Will this work?

Staples needs to give consumers a reason to visit its stores. It also needs to find better ways to monetize its considerable retail footprint. Staples Connect could do that.

People may visit a podcast studio to record. They may join a co-working space if it's priced right and well-located. This might be too little too late for the chain, but it's a smart attempt at resetting its business.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Amazon.com, Inc. Stock Quote
Amazon.com, Inc.
AMZN
$2,151.82 (0.25%) $5.44

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
330%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/21/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.