Dallas, Texas 10/16/2013 (Financialstrend) – Staples, Inc. (NASDAQ:SPLS) is one of U.S. top retailers both in terms of traditional stores and the fast expanding online retail fronts. It has been tracked by S&P 500 index and has garnered a market cap of $9.8 billion. Over the past 12 months, it has managed to ring in sales of close to $24 billion. Long time watchers of the company had started to speculate that Staples had to recalibrate its approach in order to effectively retain its market share. These analyst sentiments were borne out of the fact that Staples had been steadily losing market share on both the traditional retail and online fronts to its competition like Office mart and Amazon.
In a move seen as a conscious attempt to win back market share, the second largest online retailer in U.S started of a “head on” pricing war with Amazon. This renewed push by SPLS is being launched to coincide with the expected pick up in retail sales during the ensuing holiday and festive season.
In a banner announcement on October 13, Staples launched its biggest promotional offer for this holiday season. In its attempt to win back customers from other retailers like Amazon, it has launched what has been branded as “Staples Price Match Guarantee.” This offer is commencing on November 3 and will run right through the holiday season. Staple’s is guarantying its customer’s lowest price on every transaction they make in the offer period. This offer covers both its online and traditional retail stores. It has also gone on record to state that its prices will either match or beat the pricing offered by Amazon on its e portal.
Commenting on the new price based promotional offer, Staples Senior VP for online marketing and store sales, Alison Corcoran has been quoted as saying “Whether shopping in-store or online, Staples customers will be able to shop confidently, during the holiday season and beyond, knowing that we are providing them with all the right products and must-have gifts at the lowest prices.”