Staples closes down 15 of its 331 retail stores in Canada. Borders goes bankrupt. Both these companies got let down by the evolution of our modern day society into ecommerce. More and more stores are selling products online, even food is sold online. And hence, this progression is affecting many businesses, as they no longer fulfill the customer needs.
When I hear such news, I realize the importance of customer relationships to a business. A business having good customer relationships not only increases loyalty, but it also gives the business insight into the customer’s wants and needs, and this is critical for the business. It helps them innovate and improve their current or new products in order to keep up with the fast moving industries.
In the case of Staples, some stores of theirs didn’t do too well, especially as the industry became more online based, and Staples not so much. What is interesting to read however is how Staples is now tackling the issue and changing their methods in the tertiary sector, when it comes to actually supplying their product to the customers. They have innovated to have an in store pickup window for online orders etc. and hence analyzing the customers mindset is crucial, as they are the ones buying the products and need to be pleased.
Staples
Works Cited
News, CBC. “Staples closes 15 Canadian stores.” CBCnews. CBC/Radio Canada, 1 Oct. 2014. Web. 5 Oct. 2014. <http://www.cbc.ca/news/business/staples-closes-15-canadian-stores-1.2783780>.
“Staples.” Staples. N.p., n.d. Web. 5 Oct. 2014. <http://www.sunnewsnetwork.ca/archives/sunnews/business/media/2011/06/20110621-130310-g.jpg>.
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