WhatTheyThink? has released their Printing Outlook 2019--The WhatTheyThink Overview of the current state of the printing industry. The report collected data from 2018 to compare to 2019 and what the industry might expect economically and technologically. They also collected the latest in government data on printing industry shipments, establishments, profits and employment as well as general economic signposts. This information might be helpful when planning your year and the strategic actions you might want to put in place.
While the full report costs $349, here is the topline executive summary highlights:
- 42% of respondents to their Winter 2018–2019 survey said that 2018 revenues had increased by six percent or more compared to 2017.
- In terms of revenues, the strongest businesses continue to be either very small or very large shops, with the mid-size shops experiencing little revenue growth, especially when you adjust for inflation.
- “Competition from other print providers” is now reported by print business owners as their number one challenge, with “increasing plant productivity” a close second.
- “Customers outsourcing more work to us” and “helping customers integrate print and non-print” were cited as the top business opportunities for 2019.
- Few print businesses have any substantial planned investments for 2019, but of those who do, binding and finishing equipment top the list.
- One-half of print businesses said they plan to hire staff in 2019.