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Staples Stomps OfficeMax, Office Depot

By Katie McCaskey

As the market wobbles Staples (SPLS - Get Report)remains on firm footing, with monthly consumer spending up 13% for the year, according to Geezeo, a personal finance Web site that helps consumers track their spending.

The average customer spent $78.94 in October 2008 up from $69.86 per visit in January 2008, according to data from Geezeo's new Main Street Spending Index (MSSI).

Click here for larger image.
Source: Ofc Stores

By comparison office retail competitors Office Depot (ODP - Get Report) and Office Max (OMX) did not share the stable growth enjoyed at Staples.

Office Depot is the biggest loser, with spending down 15% from an average of $66.76 in January 2008 to $56.83 in October 2008.

OfficeMax is down just over 5% from $51.93 spent per average user in January 2008 to $49.26 in October 2008.

It's also worth noting that the average Staples customer spends 60% more than OfficeMax customers and 40% more per month than Office Depot customers.

Clearly people choose Staples first when purchasing office supplies. Staples could easily retain their lead in an economy where more people are setting up home offices and single-proprietor businesses. Staples is likely to see continued growth in the near future.

Geezeo's Main Street Spending Index tracks more than 4 million consumer transactions from 800 companies doing business in the United States and Canada. Market segments include retail, dining out, entertainment, household and utilities. Data is anonymously collected weekly and based on up-to-date bank information.

To view the full index and see how other stocks are performing, click here: Main Street Spending Index (MSSI).

For more information about Geezeo or to track your own expenses and find ways to save, visit More than half of people using Geezeo's free budget tools are saving an estimated $1,200 annually.

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