2023 Digital Print: First decline in store counts, 2024 prioritizes internal strength

Release Date： 2024-05-25 17:07:29 View Count： 0

In 2023, as the curtains lifted on the first year following three years of pandemic restrictions, offline events fully resumed, with major exhibitions proceeding as scheduled amidst bustling crowds, marking a vibrant start reminiscent of the pre-pandemic era when the quick printing industry consistently thrived. Reflecting on the past year, 2023 indeed proved transformative for the quick printing sector.

After over two decades of expansion, the industry annually witnessed thousands of new stores opening across the nation, culminating in a landscape of over 200,000 graphic and print shops nationwide. Even amidst the height of the pandemic in 2022, we inaugurated four new outlets. However, 2023 brought an alarming shift: closures surpassed openings, marking our first year without any new stores, and instead, we consolidated and divested four, leading to a net reduction in our store count for the first time.

The core business of express printing experienced notable decline, manifesting in:

The transition to electronic bidding, eroding tender document services;

A sluggish real estate sector, slashing blueprint demands;

High-speed inkjet web presses attracting training company materials, publishers' proof copies, and small-batch orders from print shops;

Digital processing centers across regions absorbing substantial laser printing volumes;

The rise of online printing platforms, aggressively competing for and carving out a share of in-store printing services.

In response, we enacted strategies including:

Halting new store openings;

Consolidating and divesting underperforming locations;

Establishing a dedicated advertising company to facilitate stores in capturing ad projects;

Enhancing our digital web press facilities to boost digital printing capabilities;

Implementing meticulous management to reduce costs and enhance efficiency. Through collective efforts, Ocean Graphics achieved modest growth compared to 2022, with noticeable improvements in per capita output and efficiency, alongside a shift where traditional printing decreased while design, advertising, printing, and cultural creative projects increased in prominence.

Anticipating 2024, the outlook for the graphic and quick printing industry suggests:

An economy transitioning into a medium-low growth phase, constraining industry expansion;

Continued erosion of in-store printing by digitization, internet-based solutions, and online printers; like design, advertising, printing, and cultural creative projects becoming dominant offerings in stores;

Wider product ranges and service portfolios, with the "front-shop, back-factory" model gaining prevalence;

Intensified competition, with gradual store consolidations favoring the adaptable.

The coming year necessitates honing our internal competencies. The era of profitability through is fading. We will bolster headquarters support, empower stores, foster teamwork, and pool resources to navigate challenges, further refining management, persistently cutting costs and boosting efficiency, thereby enhancing store competitiveness and service quality.

With hearts full of aspiration and eyes gleaming with hope, let us collectively strive towards a brighter 2024!

Digital Print 2024

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