Things seem to be shaping up nicely for 2023, with PSPs expressing a renewed focus on growth and receding supply chain pressures. But what about the wide-format segment of our hard-hit industry? How were they impacted by recent paper shortages?
Over the pandemic, more and more printers expanded into the wide-format space, feeding a high demand for health and safety signage, amidst a growing inability to source paper. Today, you’d be tough-pressed to find a printing company that doesn’t offer some sort of wide-format solution, either in-house or outsourced.
Although it wasn’t talked about nearly as much, these printers were struggling for sign-making substrates, including base materials and vinyls.
“Very few printers just do wide-format anymore. Tons of PSPs were experiencing cross-vertical issues,” said WhatTheyThink Managing Editor, Richard Romano.
Those who “saw the light,” recognized the business growth potential when there were fewer barriers to entry. They invested (and continue to invest) in the equipment, technology and resources at the right time. They continue to grow their wide-format revenue, and their ROI—as illustrated in WhatTheyThink’s Printing Outlook 2023 report:
Perhaps Old, But Not Dying
Though the wide-format segment of our industry began in the 1950s, new growth opportunities continue to emerge. Today, competition in the space is fierce. While not the “hot new application” it once was, there is money to be made.
Here are three ways to expand your wide-format capabilities—and your RO.
New Applications
Breaking into new and emerging markets is generally a good path to success – especially when you already have a solid foundation in place and market to support. This certainly applies to PSPs with large format capabilities.
For example, interest in textiles suggests printers are starting to see the gold lining. Printing textiles on wide format equipment is especially hot in the events space. It’s easy to fold, easy to print (and order) on demand and lighter to ship.
Do you offer roll-fed solutions? Think about how adding a flatbed could impact your bottom line. Or how customizing your cutting tables to match your press capability gains efficiency with the cutting and finishing processes.
TIP: If you’ve already invested in producing signage, consider how adding textile printing, flatbeds or custom cutting tables saves you time and money.
New Businesses
As a wide-format printer you should be happy to know that according to U.S. Census data, there still are a large number of retail businesses being approved each month – it is a massive vertical. And what do new businesses tend to need most? A lot of large, branded signs and displays – both indoor and out – including:
- Brand, office identity and directional signage
- Wall murals
- Privacy screens
- Lawn signs
- Banners
- Step and repeats
- Table throws
- Wall murals
- Floor graphics
TIP: Consider targeting new brick and mortar businesses, because it’s as simple as you have what they need—even if they don’t realize it.
New Workflows
It’s no secret that automation is critical to the health and growth of your print business. Re-entering data multiple times throughout a job’s life, or having to re-print a job order when a change is made, hinders productivity and ultimately stunts business growth. There are better ways for your production team to spend their time at work………
Read in full: Overcome the Paper Problem: Three Opportunities for Wide-Format Business Growth in 2023—Plus Four Tips for Success – written exclusively for WhatTheyThink
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