There’s absolutely no doubt in the fact that this pandemic has affected the whole world. Not even a single country is safe and when it comes to the businesses, well, they all have suffered a huge loss except for the mask and sanitizer industry. The decline in the revenue of businesses is quite obvious but the question here lies how will things get back to normal and which business will recover quickly.
Speaking of the pandemic and its effect on business, today we are here to discuss what happened with the printing industry this year and how much loss has it suffered? According to research and surveys, the overall decline in the revenue of the printing industry is 30%, which if you think about it, is a lot.
The Cause Behind The Declined Revenue
The printing business is affected at a different level in different countries. For example, in China, an 80% decline in the revenue was recorded earlier but as things got a little better, businesses started recovering. On the other hand, there’s India where the majority of the printing presses were closed so technically, the printing business there was affected the most.
However, the packaging and label business did quite good during this pandemic due to the increase in the demand of packaged food. In a nutshell, different segments of printing businesses got hit and the recovery time still depends on the flattening of the curve of the coronavirus in each country.
Things were fine by mid March,in fact, according to the reports, more revenue was generated in the printing industry during March,2020 as compared to the previous few months. But then after March, when the condition got worse, it affected the revenue of most businesses.
When Are Things Expected To Go Back To Normal?
This is a question that concerns each one of us. But when we specifically talk about the printing business, well, it depends on the segment. If it’s a packaging or labeling printing business that you are running, you probably already are making a good amount of money but if it’s a printing press that you own, it might take you upto 6 months to get the revenue back that you were generating before.
If you are here today, it’s obvious that you are associated with this industry and if so, we’d recommend you to try toner city if you are looking forward to kickstarting your printing business again. After all, right now the one thing you need is to cut down on all the unnecessary expenses so that things can work smoothly for you. This also means that you’ll have to find means to spend less on printers and printer inks and cartridges etc. The formula here is simple: right now, to get back on track with your businesses, you first need to opt for means to cut down your expenses and look for means to bring in as much revenue as possible.