Have you followed the printer and copier sales marketplace recently? Today, a variety of companies manufacture office printing equipment for enterprises of every size. Recent tumultuous events in the global economy have impacted these firms significantly. Consider just three of the trends that will likely affect this sector during 2020:
One: The Global Coronavirus Pandemic Disrupted Some Manufacturing
The recent global epidemic of COVID-19 generates news headlines around the world. Health authorities suggest the outbreak has not yet peaked in many places. The disease extensively impacted the Peoples Republic of China during January and February.
In some cases, companies in China which produce components for electrical equipment reported low production volumes at that time due to shutdowns. Some parts remain in short supply. The full effects of supply chain disruptions appears unclear.
Two: The North American Economy Witnessed Extensive Disruptions
The pandemic continues to cause enormous suffering across the world. In North America, the outbreak also resulted in the sudden temporary closure of many small businesses. Most educational institutions shuttered their doors during Spring, 2020, too. Many states enforced shutdowns of nonessential activities. Numerous institutions began offering distance classes.
The consequences of these changes have profoundly shaken the economy, at least for the short term. Unemployment claims skyrocketed and Congress passed several hefty stimulus packages. Companies engaged in the manufacture and sale of copiers and printers join a host of other businesses in responding to these impacts.
Three: Short Term Consumer Purchasing Habits Changed
In the wake of the pandemic, some companies began shifting production to produce medical supplies. Business analysts noted startling consumer purchasing changes, too. The sale of many consumer goods (including travel packages and automobiles) plummeted, while sales of other products actually rose.
One positive sign for many firms marketing printers involved a surge in sales of wireless printers and portable computers during March. Both students and employees working remotely often require these items for home offices.
Inspiring Debate
How long will these current trends continue? Many unanswered questions surround the economic consequences of the pandemic. To some extent, COVID-19 has transformed daily life for virtually everyone in North America.
Possibly some schools and businesses will continue utilizing remote services more extensively even after the crisis ends? Will telecommuting continue playing a more significant role in the future? These developments could impact printer and copier lines.
