Kao Collins Inc., a leading manufacturer and supplier of industrial inkjet inks, has identified and analyzed important trends in high-performing and underperforming segments of the inkjet printing industry during the six months since the coronavirus pandemic began disrupting businesses and the global economy.
Trend 1 - Increasing Demand for Food and Pharma Packaging
The demand for packaging inks has grown dramatically since February of 2020. In the uncertainty, consumers stockpiled many packaged goods. Likewise, health-conscious consumers around the world bought more over-the-counter medicines. Pharmaceutical and medical-supply companies worked at a faster pace to keep hospitals adequately supplied.
Trend 2 - Wide Format Printing Dips, Then Rebounds
“Social distancing” became a buzzword around the world. Essential retail stores needed signage that would remind customers to keep six or more feet of space between each other. To do that, they turned to wide-format printers who could print new floor decals for their stores.
Trend 3 - eCommerce Surges for Homebound Customers
eCommerce has boomed as consumers seek to reduce potential exposure to the highly contagious virus. This significantly increased the demand for inks e-tailers needed for printing on corrugated boxes.
Trend 4 - Direct Mail Takes a Direct Hit
Companies began cutting their marketing spend on direct mail advertising as stores and businesses closed, and consumer spending slowed as unemployment increased but the industry is confident the direct-mail segment will bounce back.
Read the conculding part of this article from WHatTheyThink! here.