Almost seven in ten printers either matched or increased growth over the past year despite a continued overall decline in the Australian printing industry, according to a new survey.
The Printing Industry Report 2015 by Sohraen Consulting found that 67% of those surveyed either matched or increased revenue growth over the last financial year and over 15% of businesses grew by more than 20%.
“This is a significant result,” said a lead researcher. “And if there is one thing to take away, it is that many, many printing businesses are growing; some of them by significant amounts.“
However, the growth potential of the printing industry remained generally weak and was expected to continue its decline, according to the report.
Profitability throughout the industry will be squeezed by declining buyer demand and industry overcapacity. Globally, the shift to more electronic media and communication is reducing the consumption of printed collateral. The impact of this has been significant on many areas of print industry. These changes have resulted in some businesses closing their doors while others have diversified and adapted.
Nevertheless, while industry uncertainty is increasing, it can be stabilised by strong customer relationships and securing long term, repeat business. While the industry is declining and competition is growing weaker, industry players have an opportunity to position themselves as a strong performer and capitalise on the vulnerabilities of competitors.
The growth enjoyed by the successful print businesses was attributed to two main factors:
Firstly, they diversified. Some moved away from just ink on paper and offered services such as design, web-design, warehousing and merchandise. They also broadened their production capabilities particularly around digital printing and large format.
Secondly, they focussed increasing sales. It’s easy to tell your sales team to sell more, but that probably won’t deliver robust results. Strong sales results come from implementing strategies that support your sales team. It is about getting all parts of your business working congruently toward your objectives. Growing sales is everyone’s responsibility: not just the sales team.
To purchase a full copy of the report, compiled by researchers and business analysts, go to www.sohraen.com.au