Inflation is a global concern, with businesses in every industry facing higher input costs for everything from raw ingredients to labor, putting additional pressure on their organization. While consumer spending is high, the level of demand on a constrained supply chain is a major contributor to rising inflation in the print industry.
With inflation at a 40-year high, many print businesses may be struggling with weathering inflation and remaining competitive. Some businesses may be able to pass rising costs on to their customers, but in some highly competitive markets, raising prices could cause a loss in customers.
Print businesses need a partner that can help them build resiliency, embrace new ways of working and deliver success from anywhere. By partnering with DFS, you not only benefit from their resources and experience, but you can offer your customers a wider variety of printed materials and be seen as a solutions provider, all with no upfront costs.
What is inflation?
Inflation is the rate of increase in prices over a given period of time. Often expressed as a percentage, it indicates that the general level of prices for goods and services is rising. This increase in prices is also seen, particularly by consumers, as a decline in purchasing power, as the same unit of currency effectively buys less than it did previously. One factor driving inflation in 2022 is that demand continues to outpace the supply of goods and services.
Offset the Rising Costs of Raw Materials
The success of your print business depends on what goods or services you offer and how those offerings will help customers solve problems or needs they are facing. Increased prices for raw materials, including both ink and paper, as well as supply chain shortages, may adversely affect the variety of products you offer your customers. In addition, supply shortages are restricting the production of some products.
While experts predict that this period of inflation will be temporary and not a long-term problem, it may still pose a significant problem for businesses, particularly small or medium-sized businesses. While the prices of almost every product go up during inflation, your business must continue to price your goods and services fairly.
One way to ensure that your prices remain competitive is to outsource print jobs to a trusted partner such as DFS. Outsourcing allows you to provide more options for your customer, from full-color printing and retail packaging to checks and forms, all with no upfront costs for your business. By adding a wider variety of different types of print jobs to your product line, you will save your customers the time and headaches of searching for a supplier. They may be willing to pay for the convenience or you will make it easy for your customers to purchase all their printing needs.
Another way you can add value to your customers is by bundling different products. If you sell checks and forms you might also offer envelopes, business cards, or promotional items. If there is a product that you don’t currently offer, DFS advisors can provide the knowledge needed to expand into new product lines, without adding any overhead. With a wide breadth of product offerings, DFS can help you weather inflation and continue to grow your business.
Focus on Productivity and Efficiency
Although material and labor costs are rising, continued growth is expected for the print industry, in particular for promotional printed materials in the retail, food, and beverage industries. A key to excelling, and weathering the current period of inflation, is to evaluate your current processes and find opportunities to improve your productivity and efficiency. It is also important for businesses to analyze their labor costs and cost of goods.
One way to ensure that your prices remain competitive is to outsource print jobs to a trusted partner such as DFS. Outsourcing allows you to provide more options for your customer, from full-color printing and retail packaging to checks and forms, all with no upfront costs for your business. By adding a wider variety of different types of print jobs to your product line, you will save your customers the time and headaches of searching for a supplier. Customers may be willing to pay more for the convenience and ease of purchasing all their printing needs from one supplier.
DFS provides print businesses with easy access to trusted printing resources as well as award-winning customer service and support from industry experts. These experts help you expand your print business with jobs atypical to your normal offerings while allowing your employees to use their time wisely, focusing on tasks that drive revenue and grow your business.
Position your print business to remain resilient despite changes in the economy by partnering with DFS. We take the burden out of outsourced printing services, helping you expand your print business with jobs atypical to your normal offerings. Let DFS help you achieve maximum productivity and drive long-term business success. Contact us today to be matched with a DFS expert business advisor.
Key Takeaways
- The combination of demand and a constrained supply chain is causing a surge in inflation.
- Increased prices for raw materials may adversely affect the variety of products you offer your customers.
- Ensure that your prices remain competitive and your business is resilient by outsourcing print jobs to a trusted partner.
- DFS advisors can provide the knowledge needed to expand into new product lines, without adding overhead.
