Commercial Printing Industry Procurement Intelligence Report | Dynamic Consumer Preferences Make It Imperative for Buyers to Partner with Service Providers Exhibiting Strong Focus on Product Innovations | SpendEdge
The growth of the books self-publishing industry is driving the demand for short-run printing which is contributing to the spend momentum in the commercial printing industry.
SpendEdge has been monitoring the global commercial printing industry and the industry is poised to experience spend growth of more than USD 70 billion between 2018-2023. Request Free Sample Pages.
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Digital printing technologies such as VDP are currently facing a large-scale adoption. VDP allows buyers to customize the images, text, and graphics on each printed piece of their content which enables the buyers to cater to the demand for customized marketing messages from their end-consumers. This is acting as the primary spend growth driver in the commercial printing industry. The growth of the books self-publishing industry is driving the demand for short-run printing which is contributing to the spend momentum in the commercial printing industry.
Despite forecasts of a deceleration in the industry spend momentum in the US owing to a major setback in the publishing industry, the exponential demand from the e-commerce industry will continue driving the demand in the commercial printing industry in the US.
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Insights into the industry price trends
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Service providers are tackling a recurring expense on technologies such as digital printing and automation. They are expected to compensate for this recurring expense by increasing their service charge in the commercial printing industry.
- Forecasts of increase in the prices of printing paper, ink, printing machinery, and energy that are required for operating printing machinery will increase service commercial printing service providers’ OPEX.
What are the strategies to adopt to achieve an optimal partnership with service providers in this industry?
Engage with service providers who have a high degree of technology adoption
Changing end-consumer preferences are driving the buyers to reduce the cost of their publications, such as through the adoption of paperback books. There is also an observable change in consumer perception toward advertisements, which is also driving the adoption of techniques such as the utilization of personal marketing material by buyers. These end-consumer preferences are necessitating buyers to seek engagements with service providers who offer printing techniques/technologies such as short-runs, VDP, W2P services, and digital printing. Engagements with service providers offering such technologies enable buyers to improve their cost-saving opportunities. The adoption of demand forecasting, print-on-demand, and the above technologies also enables buyers to have improved control over their printing requirements. This helps buyers reduce wastage and destruction charges that will be incurred in case excess copies of their content are printed.
Engage in long-term contracts
Buyers are advised to engage in long-term contracts with commercial printing service providers to avail value adds and other benefits, which will drastically reduce their total cost of ownership. Engaging with service providers through long-term contracts also helps buyers save on contract preparation/management costs and bidding costs.
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Some of the key topics covered in this report are:
- Commercial printing industry spend segmentation by region
- Total cost of ownership analysis in the commercial printing industry
- Regional spend opportunity for commercial printing service providers
- Commercial printing service providers cost structure
- Commercial printing pricing models analysis
- Commercial printing procurement best practices
- Category management objectives
- Cost saving opportunities in the commercial printing industry
Free sample of reports that you may like:
- Global Digital Print Market - Procurement Intelligence Report
- Global Printing Ink Market - Procurement Intelligence Report
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