Office supplies – Does it ring a bell? The small, little stationery items which you use on an everyday basis, is an industry in itself. Used by businesses of all sizes and across various industry verticals, the office supplies market has come a long way from the traditional writing pad, and folders. Suppliers in the industry are constantly looking for ways in which they can improvise on office supplies items to smoothen the daily business process.
The global landscape of office supplies market
Staples, Office Depot, and 3M are the three top suppliers in the office supplies market. Around three-fourth of the global office supplies market, is held by these three suppliers. Congenial economic policies, growing culture of start-ups, and an increasing number of corporate offices throughout the world, has boosted the demand for office supplies significantly. In fact, for several suppliers improved the economic condition of developing countries is an opportunity to enter these underpenetrated markets.
The shift from the traditional brick-and-mortar setup to online platforms is yet another remarkable change which the office supplies market is undergoing. Online platforms not only help the suppliers to cut down their operational costs but also enables buyers to procure office supplies at a reduced price. Region-wise, in the year 2016 the Americas held the largest share of the global office supplies market. Large contracts signed by several buyers and presence of prominent suppliers in the region is seen as the major reason behind the Americas holding close to 63% of the market share.
With the growth of digital channels, there has been a slowdown in demand for office supplies such as paper, folders, and even printers. Over the next five years, our procurement analysts expect the demand for office supplies to shift from the conventional products like papers and folders to digital devices like tablets.
What are the innovations in the office supplies market?
Like every other industry, the office supplies market also has adopted technology to come up with innovative products which ease the business process. Some of the latest innovations in the industry are:
- Dispensing machines
Dispensing machines reduce the manual effort involved in supplying the office items. The machines are commonly used for supplies such as ink cartridges, pens, pencils, coffee supplies, highlighters, and safety supplies. One major advantage of switching to dispensing machines is that now buyers can easily analyze the usage of different products.
- Indestructible screens and digital projection systems
Buyers are looking for sleek and highly durable office supplies, which gets them better ROI. For instance, in the case of digital projection systems, there is a high demand for wireless projectors which use built-in wireless cards and USB dongles. Suppliers are in fact replacing the wireless projectors with multimedia projectors. Being smaller in size multimedia projectors are easy to carry and use. Similarly, suppliers like Staples, have come up indestructible screens. The screens are made of lightweight plastic, which makes it easier to flex and fold it without any damage. Also, the amount of power consumed by these screens is very less.
- Recycling and green sourcing
With the goal of bringing down the carbon emissions, vendors of office supplies are now resorting to green sourcing and recycling processes. Suppliers like WalMart and Office Depot offer eco-conscious products like FSC-certified paper items, Green Seal-certified cleaners, and ENERGY STAR-certified technology.
Similarly, vendors are helping organizations reduce the carbon footprint by offering buyback for products that can be recycled and reused. For instance, Office Depot offers free recycling programs for inks and toners. Adoption of green packaging is yet another major innovation in the office supplies market. Natural materials like bamboo and mushroom cushions and air carbon bags are some of the commonly used green packaging solutions.
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