As we near the end of the first month of 2021, it is clear that this year will be a time of change. While it will be months before we return to what economists would call normal, the vaccine’s availability, more testing, and the increased number of people getting vaccinated give us hope that the pandemic’s end is in sight.
To succeed in this shifting marketplace, label and packaging printers and converters need to identify critical trends and strategically plan how to respond to those opportunities.
To support providers in that process, Memjet teamed up with NAPCO to produce a new research report, “Planning for Profitability in Labels and Packaging 2021” which identifies the TOP TEN TRENDS shaping the label and packaging industry this year – and how providers can best respond.
The Pandemic’s Impact on Labels and Packaging
Unlike other print markets, labels and packaging were better able to weather the economic shutdowns brought on by the pandemic.
As consumers endured months of isolation, demand for products like puzzles and games, alcohol, and subscription boxes for food and pre-made meals increased – along with the need to package and label those products.
In addition, demand for goods through e-commerce sites skyrocketed. Even consumers who never used e-commerce sites are now shopping online for products traditionally purchased in person.
With consumers stuck at home, the arrival of packages became an event. More than ever, labels and packaging worked as a marketing channel, providing brands with a chance – sometimes their only opportunity – to create a special connection with the consumer.
As we make our way through 2021, it is clear that these trends will continue to dominate the label and packaging market.
Digital Printing Is Now A Requirement
Keeping pace with these trends has accelerated the adoption of digital printing solutions for label and package production. More and more, label and package printers and converters report that digital printing is the best way to keep pace with customer demand.
In a NAPCO Research survey sponsored by Memjet, label and package printers reported their top benefits of printing digitally: the ability to accommodate customers’ short-run production needs, faster turnaround, and personalization.
In addition, providers reported that digital package printing was more cost-effective and efficient. Not only was it better at producing prototypes and short-run samples, digital printing also reduced the need for inventory and its associated costs.
These benefits are valuable at any time, but are especially critical in a market impacted by the pandemic.
The Next Normal
It may be some time before the economy is back to normal. But label and package printers and converters can prepare for the “next normal” today.
By understanding their brand owner customers’ demands and making strategic business investments in technology like digital printing, these providers can stay one step ahead of the competition and succeed in a changing market.
For more information on how to succeed in 2021, download the “Planning for Profitability in Labels and Packaging 2021” research report.