5 Emerging Trends That Are Affecting the Printing Industry
The retail industry has seen major shifts in recent years, with many of them related to printing. Staying abreast of emerging trends is necessary to help satisfy customer needs, and in many cases, can also help decrease operational costs.
The following trends will drive the future of the printing industry.
1. The Rise of Digital Printing
The digital printing market is expected to be valued at $28.85 billion by 2023. Suffice to say that failure to adapt to this rising market could have a drastic impact on a business’ bottom line. Today’s digital printing technologies have greatly improved, offering fast, top quality designs at reasonable costs. As a result, an increasing number of printing companies are making the switch. Digital printing also allows for on-demand printing, which gives customers added flexibility when ordering materials such as packaging. As the need for customization grows, offset printing will become less valuable, so it is imperative for businesses to jump on the digital bandwagon.
2. Demand for Customization
When the customization trend originally hit the scene, many people assumed it wouldn’t last. But the numbers speak for themselves. Each year, more and more customers are seeking to design their own packaging, prompting printing companies to develop technologies that can meet this demand. As new advances in digital printing come to light, faster and higher-quality prints will be the norm, allowing customers to achieve premium customization.
3. Printing Inside the Box
Printing inside boxes is likely to emerge as one of the hottest trends in 2019. Many companies have already started offering this feature because it reinforces branding and enhances the unboxing experience. In addition to achieving a more professional and personalized look, this printing strategy can even help reduce the incidences of theft because people are less likely to steal a package that doesn’t reveal its contents or the sender’s name.
4. The Importance of Sustainability
Sustainability has become a big deal. Modern 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. Printing companies are also pushing for sustainability, taking advantage of inside-the-box printing to remove the need for packing receipts, thus showing their customers they are environmentally conscious and willing to help make a difference.
5. Pay-as-You-Go Print Model
Traditionally, consumers receive a monthly invoice after sending in their print jobs. The invoice lists each job’s description, cost, and includes payment terms that require consumers to pay within a few weeks. Due to market demand, this payment model is being replaced by the pay-as-you-go model, which offers customers a lot more flexibility. Instead of waiting for a monthly invoice, customers can now pay immediately, regardless of the job’s size. This payment model will be a big plus for printing companies because it will help clients manage their costs, thus reducing cash flow issues.
This is an exciting time for the printing industry. These trends are giving it a much-needed facelift, opening the door to progressive technologies and creative methods that will meet customer demands and cut costs, helping businesses achieve their goals and thrive in today’s economy.