Changing Customer Preferences

Changing customer needs and preferences for newer models have resulted in shorter product life cycle. In a highly fragmented stationery industry, dominated by the unorganized players customer expectations grow more with each passing day.

Stationery industry synopsis

The Indian stationery industry offers large varieties of never before thought stationery products that help make our school and office life easier. The stationery industry under it's womb comprises products ranging from writing instruments to computer stationery and has a vast blooming future ahead of it. In a highly fragmented stationery market previously from the masses, this industry faced lack of awareness about the variety of products that it offered in the market. The local people use to depend upon their local stationery shopkeepers for their stationery and bought whatever available at the price quoted by the shopkeeper. Because of this tendency of easy acceptance, the cheap Chinese imported goods entrance had over powered the Indian local manufacturers and suppliers of stationery products for which they paid a huge price. The Chinese goods rule the Indian stationery market for a long time.

But these are the mistakes of the past, which are ready to be overcome by the Indian stationery industry today. The Indian stationery industry enjoys approximately more than 800 crore market, with almost 80% market share of unorganized players with only 15-20% of the share remaining for the organized section. But today, as the overall economic environment in India has improved, demand by businesses and increasingly well educated consumers has driven growth in the stationery industry at a rate of approximately 20 % per year.

The Indian customer who buys stationery is now more reformed and knows what is best for him. He no longer survives on their local stationery shops but now believes in exploring every nook and corner to get the best product for his consumption for which he enjoys a variety of stationery marts and malls coming up on his way giving him utmost choice. Today he understands the importance of quality and is not ready to settle for the cheap imitations even if given at lower prices. But India has huge population and poverty still is a dilemma, so to completely eradicate the intake of cheap imported stationery goods from the Indian market will take few more years. Though the process has begun that will proceed slowly and gradually towards progress. Many professionals of the stationery industry today are of the opinion that the trends happening in the industry due to changing customer preferences might drive redefinition of this big corporation.

Creating Flaws into Advantages

Increasingly Indian stationery manufacturers are now slowly turning their drawbacks into advantages. Like for example the Chinese goods were considered to be a threat by many Indian stationery manufacturers but now they have started taking the Chinese goods entrance in India as a blessing in disguise. The Indian industry had been protected for a very long time and therefore the need to excel and to be cost-effective was lacking. They feel that because of the Chinese entrances the Indian companies will work on their toes to supply their best of quality products at the lowest price they can afford in order to survive from competition. In addition, the existing players that are now no more much concerned about new organized entrants making their foray into the market as they now feel by this the industry will grow more in a more healthy and organized manner.

Also industry people feel that by improving their manufacturing facility with technically advanced machines to carry out production and by using skilled, trained workforce to deliver high quality stationery products of international standards they will definitely be able to produce better quality goods. They also have a whole development team that supervises the manufacturing processes, which avoids flaws if any. Customer awareness is the most important criteria and the manufacturers and suppliers are very much making it sure to reach Indian masses through advertising and PR activities, giving utmost information on their products through the media's help as after all they are going to be the end users. Further they have also become adamant in building very strong marketing, distribution and dealership channels, which help reach products to almost every nook and corner of the country.
Changing trends have lead to shorter product life

Changing customer needs and preferences for newer models have resulted in shorter product life cycle. In a highly fragmented stationery industry, dominated by the unorganized players customer expectations grow more with each passing day. The manufacturing companies of the stationery products then be it paper stationery, office products, school stationery or art material industry they all have to establish themselves as a strong player, bucking the trend. The well-educated and groomed customer having good purchasing power now is on an expedition of finding new good quality products and requires change more often. Due to which, many products are facing shorter life. The only remedy to cure this dilemmas to be innovative and either to keep on making products which are suitable for shorter span like seasonal products or another way is to feature the same product with a new concept to the new or same targeted audience. Freebee items in relation with the products, after sales activities, additional services, intriguing dealer incentives etc are some of the marketing skills seen adopted by the manufacturers and suppliers of stationery industry to help lure customers back to their products.

But apart from all these activities the fact still clearly remains that the more you provide new and innovative product the chances of you surviving in the industry increases as CHANGE is what the customers demands today.