Five Minutes: Five things that are good to know
What we’re hearing:
One of the key takeaways from the report was the rate at which companies plan to increase the introduction of new subproducts and brand line extensions in the coming years. Consumers are demanding more and more customized offerings and among the study’s participating brands, SKU proliferation is expected to increase by 42% over the next two years.What does this mean for our industry? Higher volumes of small run sizes and faster delivery time demands; a trend that will continue to drive digital press installation rates. Think of it this way. If the total label market is a pie and each slice represents different job/run size ranges, the slice that represents our industry’s largest run sizes (we’re looking at you food and beverage) is going to keep getting smaller and smaller.
What we’re researching:
One of our favorite things to track is annual label-volume growth for each of the major end-use verticals. It’s a great metric to gauge where converters are finding the most opportunities and, in turn, which end uses are driving highest rates of label demand. The graph below was featured in the recently published Market Watch (used with permission from our kind friends at TLMI) and offers an interesting perspective on converters’ sales growth into each segment.
Where we’re going:
Oh, and we’re also going swimming. Soon. Because we’re based in Austin. And it’s really hot. This time of year, this is where you can find us over the lunch hour. In the olden days before Austin was overrun with beard-combing, tattooed hipsters (we mean no offense, some of them make periodic appearances at the offices of LPC), the area’s cattle ranchers used to drive their longhorns to the spring to drink its mineral-laden healing waters to soothe what ailed them. And if you ever get to Austin this time of year, make sure you pay the springs a visit. (But don’t tell anyone else about it. Afterwards, come round for tea).
Where we’re writing:
…. our LPC Blog – of course!
We definitely don’t think so. But check out our blog for hands-on tips on how to be successful gaining earned media placements from press releases in the labels and packaging space. With great input from Steve Katz, Label & Narrow Web and James Quirk, Labels & Labeling.
What makes sense to us:
George Mason University
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