Article: http://www.cbc.ca/news/business/staples-closes-15-canadian-stores-1.2783780

Staples closed 15 of its 331 stores located in Canada at the end of September this year. Their reasoning behind these decisions was that certain store locations were underperforming and removing them would increase the results of the company. They have recently been in a “in-store sales slump” because the retail market is moving online. In the old days to purchase a good you had to go somewhere and buy it. This has all changed with the growth of modern technology. People now have the option to purchase goods online in the comfort of their own homes.

Online shopping is one of the most prominent innovations in the retail industry ever. It was what some would call a “game changer.” Retail stores are now the second option in most consumers eyes. This means that companies have to make adjustments. If all the business is online, what are companies going to do? They are going to make or improve their online stores. That is exactly what Staples is doing by removing those 15 stores. Since other competitors like Office Depot have closed retail stores and are moving their business online, Staples must do the same. In general to keep up with competitors, companies must keep up with modern ideas and innovations. If they choose not to then they are taking a huge risk that could leave them in a hole too big to dig out of. For example, if Staples did not expand their market online and only had retail stores they would probably go out of business. With just retail stores and no online option the company would have no diversity. The best companies are those who want to do more than just “keep up” with its competitors. They create their own innovations and come up with new ideas that will make consumers choose them. Staples has introduced in-store pickup windows, widened its office supplies product line and improved its copy and printing business. Staples is trying to improve business with these new market ideas and improvements of their products. In order to be successful, companies must be able to give the consumer exactly what they want and more.