Research firm highlights new areas of opportunity.

 

The rise of digital creators and the do-it-yourself trend is boosting interest in colouring and art supplies, presenting growth opportunities, according  to leading US research firm Circana. 

 

Traditional products for productivity and creation are still recovering from pandemic, but digital creation has  “taken off”, according to the research company.

 

“There has been a 36.4 per cent increase in digital point-and-shoot camera sales year-to-date and social media trends are contributing to emerging pockets for growth. 

 

“For instance, the popularity of #ColorWithMe videos on TikTok correlates with a modest increase in unit sales of paint markers despite overall declines in total writing instruments. While consumer trends around creators are primarily digital, they have the potential to be adapted for traditional offline media and tools.”

 

Overall sales in the US office supplies industry (which excludes janitorial, breakroom and storage) are projected to decrease by 4.9 per cent in 2024, according to Circana.

 

Circana data indicates the average selling price (ASP) for office supplies is expected to decrease by nearly two per cent in 2024, attributed to factors including: marketplace sales and private label brand growth, a continued shift to online retail, and a dynamic promotional environment.