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Staples can keep open a location that loses money if they think it is worth it to represent their name in a certain area and keep competitors out.s
This sounds more like an urban legend to me. I'd be curious to read some articles that can confirm it happens. Not sure how having an empty store in a prime location does anything to improve their "brand". To me it just shows how dumb they are.
This sounds more like an urban legend to me. I'd be curious to read some articles that can confirm it happens. Not sure how having an empty store in a prime location does anything to improve their "brand". To me it just shows how dumb they are.
This happens frequently in the fashion business. Many of the designer stores on Madison Ave. pay very high rents and do not turn a profit, but stay there because they want to boost their brand recognition in one of the richest neighborhoods in the world. For sure, some have gone out of business because this strategy hasn't worked for then. But for others, its worth it to be on the Upper East Side's premier shopping street (or Fifth Ave. or in Soho) with a walk-in store -- even if they make most of their money some other way.
This happens frequently in the fashion business. Many of the designer stores on Madison Ave. pay very high rents and do not turn a profit, but stay there because they want to boost their brand recognition in one of the richest neighborhoods in the world. For sure, some have gone out of business because this strategy hasn't worked for then. But for others, its worth it to be on the Upper East Side's premier shopping street (or Fifth Ave. or in Soho) with a walk-in store -- even if they make most of their money some other way.
They have been closing loss-leader flagship stores even before COVID. The prime area was SOHO especially Spring Street where it costs a million bucks a year for a hole in the wall
Staples has their fingers in many pies, not just physical location sales.
They do a pretty decent online business where you can choose either curbside, in store or other delivery methods. Then there are the various services offered such as copying and so forth. Staples also offers bulk office supplies for companies and small businesses.
Keep in mind that area has seen growth in residential which includes home offices, school supplies, etc...
Amazon isn't always the cheapest, and sometimes you need something *now* and can't wait for even next day delivery.
Trust me, if that Bryant Park Staples didn't hit their sales per square foot numbers it would have closed by now.
They actually used to be further north, I believe by 44th and 5th, and moved to that location years ago. They have also consolidated a bit, so they don't have as many locations as before, but yes, I have used that location myself to buy supplies or drop off UPS packages that I need to return. I like to buy my pens in person, and I don't want Made in China either, so I have to check to see if they have more high-end pens that are of quality and last. The Made in France Bic pens are pretty good, or I buy Staedtler products, which are Made in Germany.
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