The calamity that currently plagues humanity because of the pandemic created by this terrifying virus has affected the lives of everybody around the world. Although social life is deeply affected, many industries were severely disrupted from their processes and their profitability suffered. Let’s see how it all has affected the print industry.
A Decline in Production and Optimism
Surveys reveal that the activity of print companies has shown a rather sharp decline in their production, which is why they have presented critical red numbers in recent weeks. These companies have reflected a consistent optimism, understanding that this is but a rough patch caused by what is happening worldwide with the pandemic.
They see this moment as the opportunity to reinvent their products and services to be offered to the public.
Working from Home Trend
One of the phenomena that are visible during these hard times is the work-from-home trend, which has been even mandatory in most countries. It imposes the need to restructure the printing processes since seeking out printed projects has become unusual, with the growing tendency towards digital media.
All the issues mentioned above have forced the print industry to implement a series of measures to reduce the difficulties they are is going through. However, this prepares print companies for a further economic and productive boost.
Decreasing Costs – A Solution and an Issue
A sensitive part of the surveyed population states that a considerable decrease in costs should have been implemented. This has resulted in investment cuts that were projected at the start of the financial year.
Unfortunately, it also triggered massive layoffs of employees to be able to bear the unavoidable losses.
Others argue that it is necessary to resort to the awareness of the intervening sectors since the crisis is presented by the industry in general. If no participants contribute, it will be impossible to avoid the crisis. Thus, they have proposed flexibility in payments to suppliers.
Offer Something New
80% of the surveyed feel that the operating models must change, and that new products and services must be incorporated. Here the printing industrials appreciate the silver lining in the crisis, saying that they are forced to innovate their business models and that it is time to take the next step.
Once the new normality is presented, the members of this business niche estimate that in three months it will be possible to return to normal in the industry. If nothing else, we can only wait and see.