The survey showed that 70.2 per cent of respondents had used new products or processes in their operations to help them through the economic downturn, with 61.5 per cent adding products to their portfolio, and 60.6 per cent entering new markets.
The survey was conducted by Fespa in the fourth quarter of 2009, in partnership with global researcher InfoTrends, and shows that the community’s outlook entering 2010 is broadly optimistic, according to Fespa.
Marcus Timson, sales and marketing director at Fespa says, “These latest findings stress the need for printers to offer services that stand apart from commoditised print offerings. In tough economic times innovation can be a key competitive advantage and survival skill.”
He continues, “Cutting prices to match the shop across town is not the answer. Printers will thrive when they offer services and solutions that help customers execute their marketing and retail campaigns more effectively.”
More than a fifth of the 217 respondents questioned at the end of 2009 thought the wide format market was already recovering, and more than half expect recovery to previous levels by the end of 2010.
The mean level of business decline reported is 15 per cent; however, the community is polarised, with 21.1 per cent experiencing no loss in business activity and another 20.7 per cent showing a decline of 25 per cent or more. Manufacturers and resellers report the same average decline as print service providers (PSPs), underscoring the industry’s tightly connected supply chain.
Also commenting, Tim Greene, director, wide format and jetting technologies at InfoTrends says, “The economic downturn has accelerated demand for higher service levels, so it’s important for PSPs to be flexible in responding to profitable opportunities.”
Greene adds, “While the requirement for faster and more capable equipment has become a given in the wide format market, the research tells us that new markets and new application areas are what most respondents are looking for during this economic downturn.”
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