U.S. office supplies sales to fall 4.9% in 2024, but generally stabilize

It is learned that according to foreign media reports a few days ago, according to the latest data from the US market research organization Circana, sales of office supplies in the United States are expected to drop by 4.9% this year.

Circana forecasts that despite the decline in sales, the industry will continue to gradually recover this year, and sales declines are expected to fall back below 2% by 2026, indicating a stabilizing trend in the market.

Ben Arnold, an office supplies industry consultant at Circana, said that the unpredictable demand fluctuations caused by the epidemic have passed, making the office supplies sales cycle more stable. Although some companies encourage employees to return to the office, hybrid working hours have become the new normal in most parts of the United States, so the demand for purchasing office supplies by yourself has increased. In this regard, brands and retailers must always pay attention to the changing consumer needs to create business value as much as possible.

According to Circana’s forecast, key trends and resulting growth opportunities in the office supplies sector include:

Economic pressures persist, and price continues to be a key purchasing factor: Circana data shows that the average selling price (ASP) of office supplies will fall by nearly 2% by 2024, attributed to factors such as the growth of marketplace sales and private labels, as well as the continued shift to online retail and a dynamic promotional environment.

The back-to-school season remains a critical period for office supplies sales: in the third quarter of 2024, office supplies revenue is expected to decline by 2.6%, an improvement from the 5% decline in the third quarter of 2023. As consumers and school systems update their products, competition for technology products is becoming increasingly fierce. Brands and retailers can maximize growth during the back-to-school season by innovating or repackaging traditional supplies to attract more consumption.

The rise of digital creators and DIY trends bring growth opportunities: Digital creation has achieved rapid growth and development during the epidemic, and digital camera sales have increased by 36.4% so far this year. As consumers increasingly like to create and share content, social media trends are contributing to emerging growth areas. For example, despite the overall decline in sales of writing instruments, the popularity of the #ColorWithMe topic on TikTok has driven a slight increase of 2.4% in paint pen sales.

Author ✎ Rayna/

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