The Whimsy, The To-Do-List and The TPS Report
I did a swing by the three overlapping but differentiated ways to make the mundane fun.
THE WHIMSY
The Paper Source (PAPER) is a wonderful place to wander, shop and get inspired. The colorful little letter-writing, notecard and gift store targets suburban women and was acquired by Barnes & Noble (B&N) in 2021 (which explains the addition of books & digital platform improvement). On the flip side, B&N has introduced more general merchandise (influenced by either PAPER or the GenZ learnings from campus operations). The real source of value for PAPER lies in leveraging their full custom printing capability (which rivals Minted, MOO , Vista). It’s the store operator’s sticky differentiator and could be a significant asset within the B&N portfolio (support young writers perhaps?)
THE TO-DO-LIST
The Container Store (TCS), loved by organization enthusiasts has been a calming and inspiring space promising magazine-worthy closets and pantries for over four decades. The CEO from Sephora (3 years in) has refocused on customized, big-ticket organization as the growth path, putting itself in direct competition to The Home Depot and IKEA (Elfa, TCS’s closet system, was down 13% in Q1). While it makes some sense for gaining more wallet share from loyalists, the shift has come at the expense of store experience (general merch was down 22%). TCS needs to act quickly and bring the Pinterest factor to life. Compare gift wrapping at PAPER and TCS—one inspires and the other checks off a to-do. Specialty retail can't succeed without elevated storytelling and engagement. TCS has vast reach and digital capabilities, but it needs significant customer centric front of house changes to grow again.
THE TPS REPORT
What Office Depot (OD) lacks in merchandising whimsy, it makes up for in sheer convenience and comprehensive coverage for small business owners, families and teams with their meetings, offsites, and shared spaces. Whether packing, shipping, stocking-up, searching for obscure printer cartridges, or buying 26 colors of Post-its (for merchandiser led strategy sessions), OD excels at essentials in a big box store environment. There is definitely room to work with brands to create more inspirational moments, and they could follow the Home Depot path of in-store workshops (bring experts in for “how to host an offsite", etc., extending local community connect). Ultimately OD stays current with work and education trends through discount programs and give-backs, but there is importance in understanding Gen Z as they lead the next wave of work. Their approach differs from previous generations, so updating the social feed, rethinking the in-store experience, and managing membership from a “hack economy” perspective could lead to vital change.