As the year winds down, we wanted to share some insights from the folks here at Inktavo on what we’ve seen trending in the industry and what to keep in mind for 2024. In short, there’s never been a better time and simultaneously a more challenging time to run a print shop.
There are way more tools than there used to be to run your business better, but it’s also a crowded marketplace, so there’s more urgency to ensure you stand out from your competitors.
Click here to download a copy of 2024 Inkspiration: Your Complete Guide to Shop Growth and Success. We share seven big findings from last year and tools to help you head into next year strong.
Here are some thoughts from our team:
Bruce Ackerman, General Manager at Printavo
What a year! 2023 is coming to a close, with optimism being top of mind.
If you ask around, it’s been a mixed bag of decline, flat, and increased revenue this year. There are still 9.5 million job listings in the US, and with interest rates remaining higher for longer, our industry has been forced to get smarter.
As shops push through the economic bullwhip effects of the pandemic, optimism is the overall sentiment. Fortunately for the decoration industry, we’re made up of makers. We push through the daily ups and downs to provide for our customers, team, and families. And we’ll push through uncertainty again into 2024.
We recently wrapped up Print Hustlers Conf (hats off to the Made Lab team for putting on a fantastic conference!), and owners are more aggressively looking to optimize. Optimize their business, their mindset, their profits, and their team.
Everyone’s curious about integrating systems, AI, virtual assistants, analytics, and management tips. I’ve never seen this much interest in wanting to level up.
It’s due to social media moving information faster and our industry being open to sharing best practices. The latter especially makes me proud to be a part of this community.
JP Hunt, Head of Partnerships at Inktavo
Branded merchandise professionals are rapidly evolving into comprehensive single-source providers for their customers. This transformation involves a deliberate and gradual expansion of their product offerings, covering a wide range to meet diverse customer needs, including promotional products and signage. This strategic shift enables businesses to capitalize on their sales opportunities fully, and customers benefit from a curated approach to all their branded merchandise needs through a single provider.
Traditionally, businesses would invest in new equipment and train their staff for production. However, there is a noticeable shift towards a preference for wholesale trade-only contract decorators as strategic partners.
This approach allows for experimentation with minimal risk. Moreover, it eliminates the need for additional capital investment and overhead, making it a more cost-effective and flexible option for businesses.
Want to know more about our 2023 findings? Download your copy of 2024 Inkspiration: Your Complete Guide to Shop Growth and Success here!
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