Office Stationery Manufacturing in the US The Impact of the Pandemic
A leading world economy now somewhat overshadowed by China, the US suffered a further setback in production due to the disastrous impact of the pandemic. The decline in manufacturing during the spread of Covid 19 was due to the closure of offices, schools and colleges, in addition to research institutions and universities.
Studying at home and working from home have been the booming phenomenon during the pandemic and this has reduced the demand for stationery products, mainly those made with a variety of papers. Online activities are sure to increase after the pandemic as a new paradigm is being tested and seems to work.
Most major concerns and conglomerates will embrace work from home and segregate offline and online work. This will lead to more leniency in electronic communications such as email and Skype. The preference for electronic conferences will further reduce the demand for stationery products. But the decline is time-limited, as after a considerable period, the industry will recover due to continued business driven by vigorous demand and new enthusiasm when the pandemic is fully under control.
Market size and prediction
In the year 2021, the growth rate is projected to be 1.6 percent. The 6.5% drop in growth is attributed to the pandemic. The size of the office products manufacturing industry in the US is expected to be $5 billion in the period of the pandemic. Operators in this segment process a wide variety of paper and flip charts. They manufacture a wide range of stationery products that are used by various companies across the country.
Office products are marketed through a well-organized channel of distributors, dealers, and retailers. In recent times, this marketing chain has been reinforced by online stationery stores and e-commerce portals. The reach of the Internet is unlimited and now it works with electronic payments and a fast delivery mechanism all over the world. These factors are sure to have an impact on trade that will favorably offset the impact of the paradigm shift in usage heralded by the pandemic.
In general, the demand for stationery products is determined by the strong business activities and the performance of the education sector. Personal communications and the use of accessories made of paper are also determining factors that act to boost commerce and are not minimal. Therefore, to determine market potential, all determinants must be taken into account as opposed to the previous practice of evaluating based on a few dominant aspects.
Understand market dynamics
Annually published reports on various aspects of the industry along with financial tallies help identify emerging trends, new threats and opportunities. This helps shape marketing initiatives and planning strategies to capture a larger market share from stationery manufacturers. Annual reports also help in SWOT analysis of the company to gauge internal strength, discover external factors influencing the business through PEST analysis, and perform risk assessment on future investments using STEER analysis.
Sector in Expansion
Stationary is a massive noun, and it now includes products related to various technologies and not just paper. Therefore, performance in the post-pandemic period would depend on the demand for inclusive stationery products and not just paper-based ones. The rise of electronic payment and communication systems will be balanced by increased demand in other segments that have now become part of commerce.
Stationery now includes modern writing instruments, paper and non-paper accessories of electronic communication and payment systems. The printing result depends substantially on the images on paper in both the professional and personal use segments. Furthermore, the traditional use of stationery is well preserved even despite rapidly changing trends. Therefore, a holistic picture indicates a strong future for US office supply distributors and manufacturers. With the passage of time and the complete cessation of Covid 19 positivity, better times are ahead.