Crossing Boundaries and Overcoming Barriers
Jun 20, 2018

According to this year's SGIA Industry Benchmarking survey, one of the main obstacles of growth is finding new customers. In an effort to learn more about these challenges, and possible strategies to overcome them, SGIA launched a survey in partnership with NAPCO to gain insight into industry convergence and other developments that could improve business potential. 

SGIA NAPCO Segment Migration StudyData from the research shows that boundaries between the industry segments are beginning to disappear as printers look to expand their offerings. 95% of respondents either recognize or have researched or pursued the expansion of their business in an attempt to capitalize on opportunities that could bring in new customers. 

Additional data indicates that 93% of survey respondents believe printers are expanding into new segments beyond their primary business, and 81% are positive the rate of expansion will increase over the next five years. Further, customer expectations are a growing force behind new industry developments.

Our research suggests that commercial printers, graphics and sign producers and garment decorators have mutual interests in each other's operations, highlighting a channel that can be explored when these companies want to expand their offerings. Merger and/or acquisition activity is yet another way that companies see potential for growth.

While it may seem overwhelming at first, the doors are certainly open for printers to expand their offerings and entice new customers. With the emergence of new technologies, equipment and business operations, and the growing desire from a wide variety of printers to explore more diverse product offerings, the barriers for growth are being lowered and the opportunity to expand is as promising as ever. 

Now you just have to ask yourself: What are you going to do to move your business forward?

For access to the full report, click here: http://bit.ly/2JzUgwr

Learn more at "Charting Industry Convergence: A Panel Discussion" moderated by Nathan Safran, Director of Research, NAPCO Media at the 2018 SGIA Expo.

 

Business Business Employment Management Events
Also Tagged: Imaging / Printing,Imaging / Printing,Markets,Research

Related Content

California Makes Big Changes to Prop 65 Warning Statements

On December 6, 2024, California’s Office of Environmental Health Hazard Assessment (OEHHA) finalized several amendments to Proposition 65 (Prop 65) warning statements. This law, officially known as the Safe Drinking Water and Toxic Enforcement Act of 1986, requires businesses to provide a “clear and reasonable” warning on products that contain chemicals exceeding an established safe harbor level and have been deemed to cause cancer or reproductive toxicity by the state.

Imagine Studio Adds Two Dynamic Talents to Elevate Creative Partnerships and Brand Experiences

MINNEAPOLIS – Imagine Studio, the creative powerhouse within Imagine, a leading provider of visual communications, is thrilled to announce the addition of David Nguyen and Kim Mitchell to its team. This bold move underscores Imagine Studio’s mission to revolutionize how marketers, designers, and brands craft impactful retail environments, innovative displays, and unforgettable in-store experiences through design and production.

2024 In Review: CJK Group’s Landmark Year of Growth, Integration, Redefinition

Brainerd, MN — CJK Group, Inc. has celebrated a year-long journey of growth and realignment with many pivotal events setting the course for a dynamic future in the publishing industry and beyond. February 2024 saw the acquisition of Kodi Collective LLC, a leading portfolio of full spectrum print and creative marketing solutions spanning multiple print facilities and a full-service photography/ videography and creative studio with a network of over 400 validated suppliers.
}