“Innovative alternatives and more positive outcomes are predicted for those operating in the industry, including the astute reseller”
It may come as a surprise, but the printing market here in the UK is currently worth £10 billion. The industry employs nearly 90,000 people and the printing of books, brochures and leaflets are expected to account for over a third of UK revenue in 2020.
However, this once-thriving market is predicted to have challenges ahead.
The impact of Covid-19
The pandemic is having a significant effect on the printing industry. With the predominantly home-based workforce in place, a further decrease is expected in the need for items that require printing services.
Furthermore, this is an industry that relies on a moderate level of international trade. The global outbreak of the Coronavirus has heavily disrupted worldwide supply chains that will negatively influence the printing industry's trade performances, as statistical data reflects here in an IBIS World1 report dated July 2020.
It is not all doom and gloom. Innovative discoveries and more positive outcomes are predicted for those operating in the industry, including within the reseller market.
The British Printing Industry Federation2 states that historically the industry is strong, performing exponentially in 2018 where the UK saw record exports of printed matter.
In 20173, the UK was the world's fifth largest producer of printed products, with 116,000 employees, 8,400 companies and turnover of £13.8 billion.
Recent times have seen the introduction of voice recognition capabilities within a number of smart printers. Voice control will remain an opportunity, helping improve efficiency.
We’ve all heard of ‘thinking outside the box’, but what about the inside? Printing inside boxes is likely to emerge as a trend. “Many companies have already started offering this feature because it reinforces branding and enhances the unwrapping experience” says Printing Impressions.
“Environmental concerns have changed consumers’ focus, and the printing industry has taken notice. To help combat waste and pollution, manufacturers are now producing equipment that doesn’t contain solvent-based coatings, and also offering new, sustainable board types”.
“3D printing is a great example of a quickly advancing technology,” says Mode. “3D metal printing is positioned to be the next big wave in this industry.”
Although feeling the pinch, the print industry is innovating and reinventing itself. Offering services that are more relevant to the smart workplace, printing and copying look to remain a very exciting and expanding area.
With a wealth of experience, GRENKE are an experienced finance partner those in the printing industry. Offering a partnership with equipment suppliers, so they can lease their equipment to their customers, and bolster sales.
Find out about becoming a GRENKE Reseller, and contact us today.
2&3/British Printing Industry Federation, 04/2019
4/A. Haynes, Mode Print Solutions, 2019
5/P.Bagdasarian, Printing Impressions, 02/2019