Print IT Reseller asked our view on Print predictions 2024.
Chairman: Mick Bailey replied;
EBM Managed Services: In 2022, in issue 99 of PrintIT Reseller, we responded to a similar question about the outlook for 2023. As we look ahead to 2024, it appears that not much will change. Geopolitical issues continue to cast their shadow, impacting every country and, consequently, affecting businesses in various ways, from the prices of machinery, toner, fuel, and electricity to the overall cost of living. The ongoing cost of living crisis remains a top concern for most people.
In the copier industry, there seems to be an ongoing race to the bottom, with dealers engaged in aggressive pricing competition and offering what appear to be excessively low CPCs.
We anticipate further consolidation in the industry. With smaller companies likely to be acquired, and larger ones potentially being bought out by manufacturers and equity firms.
Additionally, it’s expected that the demand for traditional printing will continue to decline across various business sectors. Even those with extensive experience in the industry, such as myself, the founder of EBM, who has been involved in print for 36 years, can see this decline. The copier business is increasingly embracing a paperless future, and this trend appears to be at its most pronounced.
However, despite the prevailing pessimism, it’s worth noting that
some companies, like ours, have demonstrated resilience to these challenges. We have experienced steady growth over the years, and we plan to continue this trend into 2024. Rather than engaging in the race to the bottom. We focus on offering value through a robust training program and ongoing investments in our staff.
While hybrid working from home was the buzzword for 2022 and 2023. With expectations of a significant shift towards remote working. We have found that many people are returning to the workplace and are still relying on printing, albeit perhaps not at pre- pandemic levels.
Moreover, as customers become increasingly conscious of environmental issues, we’ve observed a rising demand for eco-friendly solutions in office settings. This shift is likely to contribute to increased revenue for our business in 2024.