|12-07-2018 12:44 PM CET - Business, Economy, Finances, Banking & Insurance||
Stationery Sales in US to Exceed US$ 2,800 Mn in 2018, Wholesalers to Hold Larger Market Shares
Press release from: Fact.MR
The U.S. stationery industry continues to remain influenced by new emerging ideas, with floral designs dominating the artworks and cascades of watercolor permeating several designs. Stationery sales in the U.S. are expected to exceed US$ 2,800 Mn in 2018. Demand for affordable stationery products produced overseas have ebbed American-produced products’ availability in the marketplace.
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Stationery manufacturers in the U.S. have been competing with others for best prices, embracing a move not only toward manufacturing but also sourcing materials and parts domestically. The Made in America movement along with the handmade design trends have been significantly impact development and sales of stationery products, such as artworks, pens, and books.
Impact of Digitalization and Shifting Consumers Preferences
The upward trend of digitalization along with rise of electronic communication have been draining the demand for traditional stationery products such as pens and colors. Demand for pens in the U.S. is expected to grow at a sluggish CAGR of just above 1% in 2018, with sales estimated at over US$ 750 Mn. According to the U.S. census bureau approximately 80% of Americans own computer or laptop, and over 75% own smartphones.
Although several technologies and devices are available at disposal of consumers, many are preferring products an activities that cleanse them from “digital stare.” Office trends that reflected technology over a decade have witnessed a shift from laptop to folders, notebooks, and file storage, in favor of more calming design.
Another step being taken by the US consumers to reduce their digital usage is traversing back to basics, using pens, markers, and colors for scheduling their daily routines, rather than using smart devices. Sales of colors and markers in the US are expected to collectively surpass US$ 600 Mn in 2018.
Wholesalers to Account for Larger Market Share
With the presence of robust education sector and spurring number of workplaces, demand for wholesales supplies of books, pens, markers, and colors has witnessed a significant rise in the US. Fierce external competition and changing digital landscape have been placing immense pressure on the traditional office supply stores, thereby leading to declining demand for several inherent consumables, and stationery is an imperative asset. Distribution of stationery through wholesalers are expected to bring in revenues over US$ 1,300 in 2018. Stationery exports, on the other hand are expected to exceed revenues worth US$ 750 Mn in 2018.
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Ordering products online and getting them delivered at the doorstep has become the norm in several households in the US. While ecommerce boom underpins this norm, convenience-based buying methods are playing a vital role in the back-to-school shopping of traditional stationery supplies. Office supplies industry is focusing on better understanding, and taking appropriate actions for addressing generational shifts that take place in the modern retail space. With millennial parents becoming next generation of the back-to-school shoppers, future demand for stationery in the US will remain upheld in the near future.
Growing Number of Commercial Establishments
Robust economic vigor and favorable policies have meant that commercial establishments are on a significant rise in the US, and ripple effects of this has been influencing stationery sales since the recent past. There has been a significant rise in office spaces in the nation, which in turn has created a significant demand for office supplies, stationery being an integral asset.
Robust start-up environment in the US has further been leading to construction of technology parks and office spaces. Silicon Valley in the US is a key area characterized by rapid rise of entrepreneurship activities. Such emerging start-up zones are further fuelling expansion of the stationery market in the US.
Aforementioned insights and evaluations on the US stationery market have been extracted from an analytical research study of Fact.MR. The report also offers forecast on the US stationery market for the period 2017-2026.
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