Widthwise 2024
Tis is a significant concern because 53% of print service providers in the Widthwise survey supply exhibition/display graphics and 14% identify events as their greatest source of revenue. Te prospects for outdoor advertising,
specifically billboards and posters (in which 68% of respondents are involved) are almost as unclear. Although the advertising spend on this medium is expected to reach £1.4bn this year, digital out of home advertising is expected to account for 47% of that. Te market that looks more secure, bear-
ing in mind that every major political party, during the election campaign, pledged to exponentially increase the supply of new houses is building wraps/hoards (which 24% of respondents already supply). Te demand for window graphics (a source of work for 42% of companies), retail/POS (36%), signage (33%), transport/vehicle wraps (30%), floor graphics (29%) and, to a slightly lesser degree, wallpaper/murals (18%), remains high. Tere also seems to be growing demand for fine art/photogra- phy (more than twice as popular as in 2022) and, aſter many years of hype from
suppliers and conference speakers, various types of textile printing, especially for ban- ners and flags (which 34% of respondents engage in). Although 18% of print service provid-
ers reported a turnover in excess of £1m, the wide-format sector is dominated by smaller companies - and that may, indeed, have proved its saving grace. In a nutshell it means that most of the time there is a gap in the market - and a market in the gap - for individual businesses to expand faster than demand and, for that matter, the British economy. (Just to, quite probably,
Q11. What is top priority for the next 12 months? Grow turnover
Improve margin Enter new markets
Find new customers Reduce costs
Make acquisitions/merger Improve sustainable practices Find a new owner for the business
4%
2% 2%
10% 19% 16% 13%
34%
Q12. Do you plan to make any of these strategic changes within the next two years?
Improve workflow efficiencies Enter new markets
Offer new print applications Make an acquisition
Internally restructure the business/MBO Increase large-format print capacity Offer new non-print services Be bought out
2% 2%
19% 10% 8% 6% 40% 28%
Q13. Over the next two years do you expect the UK’s wide-format print market to…
Grow
Stay the same Shrink
41% 6% 53%
12 | Widthwise 2024 |
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