“People grew up with the brand and remember buying school supplies at Grand & Toy,” said Chris Henwood, senior director of marketing and product management.“But those stores were an insignificant portion of our total revenue. Business-to-business sales have always been a very substantial part of what we do.”
So the retailer shuttered its stores, moved fully online and focused on meeting the needs of businesses. Indeed, the office supply sector has suffered “consistent revenue declines” since the early 2000s, according to a 2022 report by industry market research firm IBISWorld. “People were working on La-Z-Boys and sofas. Some of our largest customers said, ‘No, we need to help people create spaces in their homes where they can work efficiently through desking, seating, technology, monitors, webcams … so all of that stuff skyrocketed,” he said.
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