As the government is putting stress on Indian education, more institutes are being put up, and increasing sales in all kinds of stationery items like school stationery and office stationery which has made the stationery business more attractive.
Though, India stands as an outsourcing center for a myriad of multinational organizations at a faster pace. A recent survey claims that many suppliers as stationery wholesalers and stationery retailers like SMEs play a fundamental role in the growth and development of the Indian economy by exporting stationery items to 104 countries. In the previous year, the approximate value of stationery supplies exported was 0.35 million USD.
One of the Best Stationery suppliers also utters that small participant couldn’t hold the positions for granted, since biggies have boosted up their sleeves to work under their shades. Alongside, it has been stated that for almost 20 years China has emerged to be the largest stationery manufacturing hub in the world with over 6000 stationery products, having 40% of their requirements.
The industry under Online Stationery is an amalgamation of groups that caters to the needs for school stationery, office stationery, and computer accessories consisting of both non-paper (pens, poster colors, pencils, etc) and paper stationery including spiral books, notebooks as well as long books. The entire industry is increasing at the pace of 8% a year, with its new formats & products being added on each now and then.
In 2018, the market size of global stationery products was priced at USD 90.6 billion. Though, it is expected to increase to 5.1?GR during the forecast period. Of course, boosting the level of literacy and increasing the amount of youth are considered to be the major factors for market expansion.
As per the survey of 6Wresearch, the size of the stationery market in India is subjected to rise to 10.5?GR all through the duration of 2018 to 2024. The major demand in India for stationery commodities is produced through the education area because of boosting enrollment of children at schools as well as in higher educational organizations.
Due to rising competition in online stationery stores, the suppliers of Indian stationery have to be on their toes since the rivals are striving ahead of the curves and it becomes exigent day after day. In terms of variety, quality, and design, the new products are being launched daily to grasp the market share as early as possible.
To Sum Up
While in earlier days, customers are going to make purchases from a traditional nearby stationery shop, here is a great option to go for online shopping from an online stationery shop and thus no matter how much competition prevails and the number of suppliers still sitting in the market, stationery business is still very lucrative.
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