Office stationery and supplies in the US: Key market research findings
- Vendors in the market are focusing on product enhancement
- Paper products account for a majority of the market’s revenue
- Key vendors – Costco, Office Depot, Staples, Target, and Walmart
Technavio’s market research analysts predict the office stationery and supplies market in the US to generate a revenue of almost $88 million by 2020. The increasing popularity of e-commerce, owing to the high internet and smartphone penetration in the region, is the primary driving force behind the growth of this market. An average US internet user spends more than 90 hours online per week, almost five times more than the global average. The ease and time-saving aspects of online shopping and the wide range of products available through this platform have also added to the growth of the market through the online platform. During FY2015, sales through Staples’ North American retail stores and online portals contributed around 45% to the company’s overall revenue. In that contribution, the online sales of office stationery and supplies increased by more than 10% during the same period compared to the previous year.
The new market research report from Technavio presents a breakdown and analysis of the office stationery and supplies segments based on the product.
“Technological innovations in office stationery and supply products has a direct impact on its use. Consumers are now on the lookout for more efficient and novel products that are better suited to their requirements and lifestyles. To fulfill such requirements, vendors are introducing technologically advanced products that are priced slightly higher than the regular ones. In the US office stationery and supplies market, constant radical change is required, be it in terms of processes or products,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the paper products segment will continue its market dominance by accounting for almost 50% of the overall market share. Environmental concerns, specifically those related to deforestation, are one of the key issues faced by vendors operating in the office stationery and supplies market in the US for paper products. These vendors have to follow stringent rules and regulations while manufacturing their products.
The key vendors in the market include Costco, Office Depot, Staples, Target, and Walmart. While the offline channel has been the traditional approach for office stationery and supplies vendors; of late, a relative growth of these vendors through the online platform has been noted. Vendors such as Staples and Office Depot have their online platforms in place to effectively leverage the online channel. In addition, there has been an increased emphasis on utilizing the omnichannel strategy to provide an enhanced shopping experience to consumers.
A more detailed analysis is available in the Technavio report, Office Stationery and Supplies Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
