LONDON--(BUSINESS WIRE)--Technavio analysts forecast the stationery and cards market in North America to grow at a CAGR of close to 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the stationery and cards market in North America for 2016-2020. For the calculation of the market size, the report considers revenue generated from the commercial sales of cards, e-cards, office stationery, and supply products from retail stores as well as directly from vendors.
Technavio education analysts highlight the following four factors that are contributing to the growth of the stationery and cards market in North America:
- Personalized stationery
- Expansion of SOHO
- Entrepreneurship promotion and opportunities
- Increase in use of paper-based products
Personalized stationery
Advances in printing technologies, developments in software, and an increase in the demand from consumers are providing new opportunities for personalization of products, boosting value for consumers. Manufacturers have improvised on the traditional stationery items, in terms of design, to meet the consumers' desire for stylish alternatives.
“Personalization is being incorporated into stationery products by integrating elements of the user's choice; various templates are used to provide the required unique finish and render product customized. It encourages people to connect on a more personal note and is intended to keep alive the tradition of basic communication. For instance, addition of photos on stationery and cards is a popular form of personalization. Such concepts should accelerate the demand for stationery and cards,” says Jhansi Mary, a lead analyst at Technavio for school and college essentials research.
Expansion of SOHO
Small or medium-sized enterprises (SMEs) form a major part of the global business environment and are well positioned to witness growth in the near future. This growth is expected to come from emerging economies as they receive increasing government support. SOHO (single office/home office) forms a part of the SME segment. The concept of a home office is rapidly gaining popularity. Advances in IT and infrastructure, coupled with new channels of communication, have led to the setting up and running of new businesses from a home setting through the Internet, e-mail, and VoIP. This has given rise to a whole new end-user segment for vendors to target.
Entrepreneurship promotion and opportunities
In 2016, the World Bank ranked the US 49 out of 189 countries on the ease of starting a business. Canada was ranked third. This highlights the prevailing conducive atmosphere for startups and entrepreneurs in the region. The same was confirmed by the Global Entrepreneurship Index released by the Global Entrepreneurship Development Institute (GEDI) in 2016. The US and Canada exhibited the availability of financial support for new businesses by way of venture capital. Hence, the entrepreneurs find the region favorable for establishing new businesses. Entrepreneurs are playing a crucial role in boosting the economic growth of any region.
In 2014, Spark established a consortium with various organizations such as Global Entrepreneurship Network. The Spark initiative receives significant support from the US government because it conducts and launches numerous entrepreneurial programs in collaboration with other nations, promoting global entrepreneurship.
Increase in use of paper-based products
The paper-based products are still dominantly used by various organizations and educational institutions. The market has been seeing an increased demand for paper-based products from offices in the US over the years. For instance, the invitation cards sent by companies to their clients, during any occasion, are now presented in a customized manner by the vendors. Other stationery for wall and desk, such as diaries and calendars, are used consistently across organizations and institutes. Leather diaries, multi-functional paper, and inkjet paper with improved paper quality are attracting the attention of customers.
“Although the market for paper-based products faces erosion by the electronic methods of communication, some essential products, such as folders and files, will generate continuous demand for paper-based products. In addition, the increase in imports of paper-based products from Asian and the EU countries suggests that there is a significant demand for such products in the country. This should drive the market during the forecast period,” says Jhansi.
Browse Related Reports:
- Global Stationery and Cards Market 2016-2020
- Education Technology Market in North America 2015-2019
- Global Writing and Marking Instruments Market 2015-2019
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