(Quoted from Wide Format Impressions. Full article here.)
For this year's 2020 economic outlook, we are turning to the rich wealth of data generated from the SGIA Industry Benchmarking Research in 2019. That research provided members with quarterly reports covering a number of important topics that range from products and markets, to financial performance indicators, to wages and benefits. But what can we learn from looking at the reports as a whole for the entire year? And how does that relate back to the average wide-format printer?
Here are ten of the top takeaways, which can help wide-format shops better plan for how to spend their dollars - and grow their business - in 2020 and beyond.
1. About every second company (41.5%) serves at least one segment in addition to their primary segment. Where do they serve? The coverage varies from commercial printing (30.9%), to functional (18.7%), package printing/converting (11.4%), and apparel decoration (9.8%). That will likely continue well into the new year.
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