SpendEdge Forecasts a Spend Growth of over USD 30 Billion for the Office Supplies Industry
LONDON--(BUSINESS WIRE)--Nov 21, 2019--
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Office Supplies Industry – Procurement Intelligence Report.
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Global Office Supplies Industry Procurement Intelligence Report. (Graphic: Business Wire)
Employers are observed to deepen their focus on improving well-being/hygiene and health at the workplace. This drive will create a substantial requirement for non-core office and business supplies, such as adjustable desks and air purifiers. This will act as one of the most prominent growth drivers in the office supplies industry. According to the forecasts, North America, Europe, and APAC will dominate the global office supplies industry and together, they are currently accounting for approximately 83% of share in the global spend. However, in the years to come, APAC will outpace the other regions in terms of spend growth owing to the increase in the number of businesses in developing countries such as China, India, Australia, and Japan.
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“ Suppliers are shifting from a brick-and-mortar model to an online system, which requires them to manage a large inventory of office supplies. Forecasts for an increase in the rent of warehouses will contribute to the price of office supplies during the forecast period,” says lead SpendEdge procurement analyst Angad Singh.
Office supplies price trends imply phases of dynamism in the cost structure of suppliers. An increase in the cost of resources and materials that are used to produce products pertaining to this industry will compel the suppliers to readjust their pricing structure. This will have a subsequent impact on the buyer’s procurement spend in the office supplies industry.
Some Insights into the Office Supplies Price Trends
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What are the scopes of optimizing procurement spend in the office supplies industry?
Consolidation of supply base will play a key role for buyers to determine areas where they can optimize their procurement spend in the office supplies industry.
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INDUSTRY KEYWORD: RETAIL OFFICE PRODUCTS
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PUB: 11/21/2019 08:30 AM/DISC: 11/21/2019 08:30 AM