Background Information
With increased customer demand, digital print will see a significant growth rate of 5.7% over the next five years. A recent global industry report (IDC 2022) has predicted that the digital printing market will grow at a rate of 5.7% between now and 2027, taking its estimated value to $189.8 billion by 2027. Closing the gap on traditional offset printing across multiple applications, digital printing offers customers a host of benefits:
- Cost-effective: With the option for short to medium print runs, digital printing is the most flexible and cost-effective printing solution for customers, allowing print-on-demand at the desired quantity.
- Faster turnaround time: With no setup of traditional plates, the printing process for digital printing is minimal, offering quicker response and delivery time.
- Personalization: Using Variable Data Printing (VDP), digital printing offers personalization to help capture the attention of the target audience.
- Wider choice of ink colors and materials enable unlimited creative designs with endless ink color options on a wider range of materials.
Outlook on Top Trends in Digital Print Industry for 2023
- 1. A focus on solution-based selling
The famous saying “sell the sizzle, not the steak” will be a very relevant one in 2023. Experience speaks volumes when it comes to recommending a product to a customer, and being able to talk about applications that are relevant to their industry and business will bring the product to life. Customers will be facing their own set of challenges in 2023 and will want to be guided by suppliers and manufacturers as to which products will meet their needs. Uncovering a customer’s pain points will be key in providing them with a solution that they’re happy with.
- 2. Increased demand for sustainable products
A recent survey from Deloitte revealed that a business’s commitment to climate change and sustainability influences consumers’ trust. Kernow have undertaken several initiatives to support the sustainability strategy of the business, including:
Water-based coatings
Kernow have been at the forefront of coating innovations for decades with regard to environmental issues by switching to aqueous coatings at every opportunity.
Caring for nature
Over the last 11 years, Kernow have funded the planting and lifetime care of more than 13,000 trees.
Clean air
Kernow are continually improving the efficiency of their machines to reduce emissions of greenhouse gases, including CO2.
Recycling
Kernow Coatings were awarded the recycling and recovery obligations fulfilment certificate by Valpak – the leading provider of environmental compliance. Businesses will also need to focus on the value delivered, with sustainability being key in ensuring that customers continue to invest in the necessary capital expenditure to develop new production approaches, even in challenging times.
- 3. More visual print
Creativity will continue to speak volumes throughout 2023, with innovative companies surpassing those with run-of-the-mill products and solutions. Impressive visual print shines through against less rich forms of communication, resulting in a stronger connection with the viewer. It’s also reported that visual print still gives a higher ROI over digital ads.
Products such as floor graphics have grown in popularity since the pandemic, and continue to do so. The increase in demand resulted from the need for social distancing signage but has now evolved into the use of floor graphics for promotional messaging and directional signage. Floor graphics can also introduce an element of fun to a retail or educational environment.
- 4. Diversification and adaptability
A huge factor in businesses surviving and thriving post-pandemic is not only about demonstrating resilience but thinking outside of the box, not just with products and services but with the in-house talent they choose. A motivated, entrepreneurial team will be able to bring new ideas to life through their attitude and approach. Recruiting the right team remains incredibly important. Along with having the right people in place, embracing digital transformation is a must alongside taking a combined approach to both digital and print forms of communication. Uncovering new markets for print will become more challenging, so incorporating a digital portfolio of solutions will be imperative as Kernow see more QR codes along with increased demand and success with variable data printing.
- 5. Personalisation
As more people start to feel email fatigue, there is an opportunity for businesses to focus on targeted and personalised communications to get cut through the noise. Printers who don’t already realise the value of data will soon recognise its potential by providing it as a service to customers who connect with their audience on a personal level. Not only does personalisation result in a high potential ROI, but it can drive repeat engagement and loyalty over time. To summarise, the market and consumers’ needs and wants are changing, and those in the print industry need to adapt and innovate in order to retain the interest of existing customers and attract new business.
As a global leader in optimised high-performance coatings, Kernow have a commitment to leading innovation across the wide range of wide-format and narrow-format specialised print media – synthetics, self-adhesives, floor graphics, colours, and metallics.
