A leading economy in the World now somewhat overshadowed by China, US suffered a further set back in output due to the disastrous impact of the pandemic. The decline in manufacturing during Covid 19 spread has been brought about by the closure of offices, schools and colleges besides that of the research institutions and universities.
Study at home and work from home have been the rising phenomenon during the pandemic and this has reduced the demand for stationery products chiefly those made using a variety of papers. Online activities are bound to increase post pandemic since a new paradigm is being tested, and it seems to be work.
Most of the major concerns and conglomerates will adopt work from home practice, and segregate work offline and online. This will lead to greater indulgence in electronic communications like email and Skype. Preference for electronic conferences will further reduce the demand for stationery products. But the decline is time bound since after a considerable period the industry will bounce back due to vigorous demand propelled business continuity and by the new enthusiasm whence the pandemic is fully subdued.
Market Size & Prediction
In the year 2021 the growth rate is predicted to be 1.6 percent. The decline of 6.5 % in growth is attributed to the pandemic. The size of office products manufacturing industry in US is expected to be 5 billion USD in the pandemic period. The operators in this segment process a vast variety of paper and paperboards. They manufacture a wide spectrum of stationery products that are used by diverse businesses all over the country.
Marketing of office products are through a well-organized channel of distributors, dealers and retailers. In recent time this marketing chain has been bolstered by online stationery stores and eCommerce portals. The reach of Internet is limitless, and is now powered by electronic payments and a speed delivery mechanism all over the World. These factors are sure to impact the trade favorably negating the impact of paradigm shift in usage augured by the pandemic.
In general, the demand for stationery products is determined by robust business activities and the performance of education sector. Personal communications and use of accessories made of paper are also determinants that act to boost the trade and they are minimal by no means. Thus, in order to determine the market potential all determinants have to be taken into consideration as against the previous practice of assessment based on few dominating aspects.
Understanding Market Dynamics
Reports published annually on various aspects of the industry along with financial counts help in identify emerging trends, new threats and opportunities. This helps in shaping marketing initiatives and planning strategies to avail greater share of the market by stationery product manufacturers. The annual reports also assist in company SWOT analysis to gauge internal strength, discover external factors that influence the business through PEST analysis and make risk assessment in future investment using STEER analysis.
Stationary is a mass noun, and it now includes products related to diverse technologies and not only paper. Therefore, the performance in the post pandemic period would depend upon the demand for inclusive stationery products and not only the ones based on paper. The increase in electronic communication and payment systems will be balanced by rise in demand in other segments that have now become part of the trade.
Stationary now includes modern writing instruments, paper and non-paper accessories of electronic communication and payment systems. The print output depends substantially on paper imagery both in the professional and personal use segments. Besides the traditional use of stationery is well-preserved even despite the fast-changing trends. A holistic picture thus indicates a robust future for office stationery dealers and manufacturers in USA. With the passage of time and complete halt to Covid 19 positivity better times are ahead.