The latest trends in e-commerce: Print-on-Demand
- Written by NewsServices.com
COVID-19 struck the global economy very hard. During this time, a vast majority of people who lost their livelihoods due to the pandemic turned to the internet to earn a living. The influx of entrepreneurs in e-commerce soared during the pandemic and there is one specific industry that turned out to be very lucrative: Print-on-Demand.
Print-on-Demand has become very trendy in e-commerce. Although the industry has been growing at a rapid pace for the last 4 years, the pandemic gave it a forceful push.
Demand for Personalization
The recent trend of print-on-demand in e-commerce can be chalked up to both the pandemic and the growing market demand for personalization. More than 35% of consumers expect some kind of personalization in their products. When it comes to customized products, consumers are even willing to wait longer to get their products.
Though consumer’s preference for unique and customized products has been in existence for a long time, the price they are willing to pay for it these days has increased significantly from the past. This is exactly what print-on-demand businesses count on.
Low Investment and Affordable Risk
One of the many reasons more and more businesses are turning to print-on-demand in e-commerce is because they don’t have to invest a heavy amount before starting the business. All they need is a few samples of the products they are going to offer and they are good to go. They don’t require a minimum order volume and that’s the primary reason why print-on-demand is so profit-making.
The massive influx of sellers in the print-on-demand industry is also because the business is not very risky. Almost every seller enters this market prepared to bear the loss if it doesn’t work as the loss in this business can hardly be past bearing. Only one order for a specific design can start their business.
Shift in Printing Techniques and Digital Artists
One rarely-known reason for the latest print-on-demand trend in e-commerce is the shift in printing techniques. Print-on-demand used to rely on screen printing for their products. Now, the market has mostly shifted to digital printing. Digital printing is extremely affordable as it has no minimum order requirements. Moreover, with more and more digital artists wanting to make a living by selling their art, print-on-demand has become even more popular.
The prevalence and popularity of print-on-demand businesses in e-commerce can be accredited to both the influx of people in the digital art industry and the increasing market demand for personalized products. Everybody wants a customized T-shirt, a personalized day planner, a mug with their name written on it, a tote bag with their favorite basketball player’s picture, etc. With so many amazing businesses like OGO Print on Demand catering to these needs of consumers, it’s safe to say that the print-on-demand industry is going to become even more lucrative in the coming years.
