According to the Senior VP and Chief Economist of Idealliance, Andrew Paparozzi, the market for commercial printers looks set to grow in the remaining months of 2017. However, he adds that any business that seek to take up this venture must not only offer the best canvas prints, but also take note of how the market has changed.
Mr. Paparozzi has stated that the market has changed, with the industry no longer being segmented; companies are now differentiating to get an edge on the competition, with commercial printers looking for opportunities for business expansion and chances to cover different areas and offer different services. He adds that this has resulted in a market that is extremely competitive with regards to pricing, leading to declining margins.
According to the Marketing Manager of the American branch of the Sign & Display, Graphic Solutions of HP, a Mr. Tom Wittenberg, wide-format printing offers exactly what businesses need. Data from the industry reports show that whilst there is some variation on the specifics, the wide-format market has indeed shown growth. Other experts say that wide-format is quite profitable, with margins that are atypical for the commercial printing business. They say that adding wide-format to a business’s offers allow partners to leverage their existing customer base for saving and improvements in turnaround.
Michelle Johnson, Mutoh America’s Advertising Manager states that banners and simple signs are great as crutches for getting into wide-format printing, but should not be the end goal of the company, rather that they act as easy to grasp learning curves. Once a business has experience dealing with wide-format projects, experts say that that is the point at which they move into more profitable, but more complex and demanding uses.
Additionally, printing firms also need to provide good finishing for their wide-format prints. The best canvas prints require good cutting and finish solutions, else the business risks spending money for outsourcing this part of the process. Whilst the equipment necessary for this can be costly, Wittenberg states that these are all part of the needs that come as a tradeoff for wide-format printing.
Wittenberg explains, however, that these are not necessities, which are dependent on the market. He states that every business owner should consider doing in-depth research before making any moves.