Mark Broad, Consultant for MPS and Print at Hexa Finance—a firm focused on providing tailored finance solutions—shares his insights on the print industry, drawing from his 25 years of experience in the sector.
Having spent 25 years in the print industry, I’ve seen its evolution and resilience first-hand. For at least the last 15 years, two persistent myths have lingered: ‘Isn’t print dead?’ and ‘Aren’t we all moving towards paperless offices?’ I can’t even count how many times I’ve heard those questions.
The reality, however, is more complex.
The COVID-19 pandemic caused monumental disruption across all industries, and print was no exception. With most people working remotely, demand for print dropped significantly—there simply wasn’t as much need to press the ‘green print button.’ Even as offices began to reopen post-COVID, dealers reported that print volumes—the lifeblood of their businesses—had declined.
Immediately after the pandemic, I spoke with many dealers who all faced a similar challenge: service revenue had dropped to about 40% of pre-pandemic levels. Recently, though, there’s been a shift; dealers are now seeing revenues bounce back to around 80% of what they were before COVID. This recovery is encouraging, but it still leaves a 20% gap the industry needs to address.
So, how is the industry adapting?
Manufacturers have realised they can’t just stick to what used to work. The pandemic was a wake-up call, showing that the print industry needed to think bigger and adapt to the changing needs of today’s workplaces. To stay relevant, many manufacturers are expanding into new areas. Audio-visual and video conferencing equipment, for instance, has become essential as hybrid work takes hold and remote meetings are now part of everyday life. Visitor management systems are another example—businesses with high foot traffic don’t want sign-in sheets anymore. They’re moving to touchscreen sign-ins and facial recognition, which allow people to check in quickly and securely, without the hassle of pens and paper.
It’s not just about adding new products to the catalogue, either. Manufacturers are shifting towards solutions that bring hardware and software together, offering complete packages that meet the needs of modern workplaces. Instead of a one-off printer sale, they’re focusing on creating all-in-one setups tailored to specific business needs. It’s clear that they’re thinking creatively, aiming not just to survive but to thrive in a rapidly changing landscape.
At Hexa Finance, our deep market insight and unmatched ability to connect resellers with precisely the right funders put us in a strong position to support these industry shifts. We excel at finding funders who understand the unique needs of an evolving market, providing the financial flexibility required for our clients to succeed as demand changes.
We stay ahead of the curve by recognising the diversification within the dealer network and by connecting them with funders who appreciate these changing market dynamics.
Despite the persistent rumours that print is dead or that we’re rapidly moving to paperless environments, the market remains remarkably resilient. The industry has shown incredible adaptability post-COVID, proving that print is far from obsolete. With the right strategies in place, print is not just surviving; it’s evolving, with a strong future ahead.