For many decades, office supplies have often been sold in local bookstores around the country and in other parts of the world.  Today, there are a number of different stores such as Office Depot and Staples that specialize in providing business establishments with various office supplies and equipment.  From paper products to office furniture and fixtures, these office supply shops have become the one-stop shop for many business entrepreneurs regardless of the size of the company.

How it all began

Most of the popular office supply stores had their beginnings during the late 1980s.  Staples and Office Depot were the first to be established in 1986.  Two years after, Office Max opened its first store.  Today, these three office supply retail stores are the top three most popular chains with branches all over the United States and even in other parts of the world.

The primary reason for the establishment of a specialized office supply store came as a result of a need.  The founders of Staples and Office Depot have begun to notice that, although bookstores do provide many of the office supplies that are needed by any business establishment, these are often sold in retail.  As such, many business establishments, especially those who are just beginning to start their own small business or home office to settle with whatever number of supplies that are available.  Another problem that they noticed is that budding business entrepreneurs would need to travel from one store to another in order to acquire everything that they would need for their business.  For instance, if they would need some office furniture and fixture, they would need to go to a furniture store.  For their computer and electronic equipment needs, they would need to head down to an appliance or computer store for this.

The solution

In line with this, the founders of Staples, Home Depot and Office Max came up with a solution.  That is, to provide business entrepreneurs a one-stop shop where everything that they would need for their business would be available.  Apart from providing all the supplies, equipment and furnishings that you may need, these office supply specialty stores sell items both in retail and in bulk.

Evolution of Services

Today, office supply stores now also offer a number of different services that you will need for your business.  For example, apart from providing office supplies, equipment and furnishings, Staples now has a business center in every establishment.  Here, customers can avail of services such as fax transmittals, creation of business materials, binding, laminating and the like.  They also provide a service center for computers, printers and laptops.  Office Depot now also offers ink refilling services to its customers by refilling emptied printer ink cartridges, allowing them to save money.

Reaching out to their customers

Another plus for office supply stores is that they provide great discounts and offers for products like photo paper, printers, ink cartridges, etc. And they do it not just to budding business entrepreneurs.  These offers and discounts are meant to attract teachers, students and any one who needs to avail of any of their products and services.  Such is the case with Office Depot with their STAR Teacher Program. Through this program, a teacher is given huge discounts on selected services and products such as copying services and supplies that he or she would need.

The demand for office spaces across the country was up by 19 per cent in the third quarter (July-Sept, 2009) over the previous one. Bangalore witnessed the highest demand in the third quarter with 2.3 million sq.ft. followed by Mumbai at 1.2 million sq. ft. However, the gap between supply and demand increased to over 130 per cent (from 50 per cent) in the last quarter, increasing the average vacancy across major cities in India to 17 per cent from the previous quarter’s 13-18 per cent, according to the third quarter office Market beat.

Property in Delhi NCR declined over the previous quarter due to subdued interest from the corporate sector in anticipation of further decline in values along with shelving of their expansion plans. Additionally, high availability of ready to move in options has resulted in no pre-commitments for the future supply, impacting the demand for the quarter.

The total fresh supply registered in Q3 2009 was approximately 15.9 million sq.ft. Mumbai, leading the supply scene, saw an infusion of 3.73 million fresh supply followed by Delhi NCR (2.26 million sq.ft.) Kolkata, traditionally a low supply market witnessed infusion of 1.7 million sq. ft. while Ahmedabad witnessed no supply in the quarter.

The office market sector in India is on a gradual improvement curve with demand just about beginning to pick up. However, vacancy levels have not seen much respite since supply also increased significantly and simultaneously in anticipation of this demand. The third quarter saw some surprise with Mumbai witnessing significantly high supply as well as absorption. Pre commitments were recorded at an all time low owing to the increased vacancy levels with the exception of Bangalore and Chennai.

Property in Mumbai

In Mumbai, demand for commercial office space in Q3 2009 improved significantly as compared to previous quarters and was recorded at approximately 1.21 million sq.ft. This steep growth in demand can be attributed to the improving economic environment and growing belief amongst end users that office rental values in Mumbai have largely bottomed out. As a result, many companies, which had earlier withheld their real estate requirements, have now begun to execute their absorption of office space in Q3 2009 was recorded as 2.76 million sq.ft.

Property in Delhi NCR

Demand for office space in Delhi NCR in the third quarter was recorder at 656,300 sq.ft. with no pre-commitments. A 30 per cent drop in demand from the previous quarter absorption was driven by commercial office segments (63 per cent) predominantly in Gurgaon and Delhi and in the IT / ITEs segment including SEZ space. Gurgaon recorded 243,800 sq.ft. Space take-up. Most of the micro markets continued to witness correction though rental values across south micro market and Noida (IT/SEZ) stabilized having achieved sustainable levels with no new supply entering the market.

Property in Pune

The total absorption in Pune was recorded at approximately 930,700 sq. ft. – 29 per cent higher as compared to the second quarter 2009, Majority of the fresh absorption was concentrated in suburban locations such as Magarpatta, Viman Nagar, Yerwada and Kharadi.

Property in Bangalore

Absorption in Bangalore was higher in the third quarter, accruing to a total of 1.56 million sq.ft. in comparison to the second quarter. Peripheral locations of Whitefield and Outer Ring Road accounted for