PRIMIR, the Print Industries Market Information and Research Organization, the research unit of NPES, announced that its new study "Value-Added Printing & Finishing for Improved Profitability" has been published. The research, which addresses high-end color, new finishing products and techniques, special coatings, foiling, laminating, scented inks, raised inks, brand protection and security, metallic inks, metalized substrates, stitching and die-cutting, and more was circulated to all members of PRIMIR.
Conducted by Hal Hinderliter, Hal Hinderliter Consulting Services, the study included a cross-sectional survey of print service providers, print buyers and brand owners, along with industry experts and leading vendors. According to the research results, adding value to print can both improve print service providers' profitability and print product effectiveness for the brand owner. In fact, 93 percent of print and trade service providers reported that sales of value-added enhancements contributed to increased profitability. Moreover, offering some value-added enhancements did not require any additional investment by the printer; these include: scented, fluorescent & iridescent inks, stainless steel stitching, specialty stocks, and engineered papers.
To capitalize on these opportunities, the research revealed that crucial changes in sales strategies are needed. Printers must make their customers aware of new ways of improving print's effectiveness with examples of proven superior ROI provided by value-added print, while at the same time shifting the discussion away from "price per unit."
According to the study, in seeking an effective means to stand out, print buyers and brand owners are asking for value-added enhancements to add 'eye candy' to capture buyers' interest and also improve the quality of the printed product. Notably, buyers and brand managers believe including value-added enhancements to their printed products are cost-effective.
The PRIMIR research additionally identified value-added products and services poised for growth, which include tactile and dimensional finishes, specialty stocks, spectral databases, hi-fi color, foil stamping, special effect coatings and UV-curable gloss, and dull coatings. The research indicates the future of many of these value-added enhancements is bright, providing a buffer for print against potential threats from disruptive technologies. In short, the research clearly found that "print that performs is thriving."
Eligible firms may join PRIMIR to receive the complete study results.