Print growth predicted by US research
A US research report showed that many American printers saw revenue growth last year and many are optimistic about prospects in 2020.
WhatTheyThink’s annual printing industry outlook report, published this week, contains the results of a survey of printers in the US, conducted late last year.
Some 48 per cent of survey respondents said their revenues had increased by 6 per cent or more compared with 2018. But, 12 per cent said revenues had decreased 6 per cent or more, substantially more than last year, when 4 per cent of respondents saw such revenue decreases.
Also, 20 per cent of survey respondents said revenues for 2019 stayed roughly the same compared to 2018, up from 15 per cent last year.
Looking ahead, industry is optimistic, with 62 per cent of survey respondents expect revenues to increase by 6 per cent or more this year, and only 3 per cent expect a 6 per cent decrease in revenues, and 36 per cent expect revenues to hold steady.
The survey found that the top challenge reported by print businesses last year was “pricing”, with 29 per cent of respondents raking this as the number-one challenge. This was followed by “competition from other print providers” (25 per cent), and “capabilities of sales personnel” (23 per cent).