There is no denying that it is a challenging time for the print industry, with higher supply costs and the rise of digital media. That being said, there is no reason why your printing business can’t be a success in 2024 and beyond – you just need to know what issues to look out for.
Read on to discover five challenges facing the printing industry in the year ahead. Plus, top tips on how to overcome them so that your print shop comes out on top in 2024.
1) Environmental impact
One of the most notable challenges facing the printing industry at the moment is its impact on the environment. More specifically, print shops are under a great deal of scrutiny as consumers become increasingly concerned with sustainability and look for more eco-friendly alternatives to print.
One way that you can overcome this issue and ensure you are winning new business rather than losing it is by being vocal about your sustainability efforts as a business. For example, you could promote your recycling programs.
2) Rising supply costs
Rising supply costs are another huge problem for many printing businesses, with the cost of paper, ink, printing equipment, and freight continuing to rise. You may also face issues with distribution and delivery costs.
To keep your supply costs down, don’t be afraid to negotiate with your suppliers, and if they refuse to budge, compare the prices of other suppliers and make the switch.
3) Data security threats
Cybercriminals have never been more sophisticated, with new threats emerging daily. Falling victim to a cyber-crime will not only cost you a lot of money but it can also result in a loss of trust between your brand and its customers.
To keep your data safe, make sure you invest in firewall software, use strong passwords and train your employees to recognise viruses and other types of malware.
4) Lack of automation
Compared to other industries, many businesses within the print sector are not taking advantage of the latest automation tools on offer. This is despite the fact that print shops that have highly automated workflows generate more jobs per day than those that carry out tasks manually.
If you are worried about investing in automation tools, you may want to try a few free trials before you commit to a product or service. You can find automation software to help with many essential business tasks, such as billing, payroll and managing orders.
5) Digitalisation
Last but not least, digitalisation is a huge concern for many printing businesses, with customers turning to digital sources rather than traditional print ones. This can cause a dramatic drop in sales and revenue, causing many print shops to close their doors indefinitely.
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To keep your printing business relevant, it can be a good idea to focus more of your efforts on the print-on-demand side of your business and less on pre-printed products. Also, embrace digital technologies that can improve your business rather than shy away from them.
