A leading economy in the World now slightly 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 occurrence during the pandemic and this has reduced the need for stationery products mostly 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 rule to greater indulgence in electronic communications like email and Skype. Preference for electronic conferences will further reduce the need for stationery products. But the decline is time bound since after a important period the industry will bounce back due to vigorous need 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 expected to be 1.6 percent. The decline of 6.5 % in growth is credited 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 part course of action a great variety of paper and paperboards. They manufacture a wide spectrum of stationery products that are used by different businesses all over the country.
Marketing of office products are by 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 need for stationery products is determined by strong business activities and the performance of education sector. Personal communications and use of accessories made of paper are also determinants that act to raise the trade and they are minimal by no method. consequently, in order to determine the market possible all determinants have to be taken into consideration as against the past practice of assessment based on few dominating aspects.
Understanding Market Dynamics
Reports published yearly on various aspects of the industry along with financial counts help in clarify emerging trends, new threats and opportunities. This helps in shaping marketing initiatives and planning strategies to avail greater proportion of the market by stationery product manufacturers. The annual reports also assist in company SWOT examination to gauge internal strength, discover external factors that influence the business by PEST examination and make risk assessment in future investment using STEER examination.
Stationary is a mass noun, and it now includes products related to different technologies and not only paper. consequently, the performance in the post pandemic period would depend upon the need 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 need 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 significantly on paper imagery both in the specialized and personal use segments. Besides the traditional use of stationery is well-preserved already despite the fast-changing trends. A holistic picture consequently indicates a strong future for office stationery dealers and manufacturers in USA. With the passage of time and complete stop to Covid 19 positivity better times are ahead.