Survival of converters in tough economic times
The consensus of opinion noted in a March packagePRINTING State of the Industry Overview is that, "companies with strong customer ties and niche products and services that remain in high demand are well suited to weather the crisis." The key for small to mid-size companies is to work closely with customers and uncover niche markets by partnering with them in the development process to address current and future needs of their customers.
Consumer packaging, often thought of as recession proof, has undergone some changes during our recent economic times. The article notes an increase in the amount of private-label products as consumers become more price sensitive. As a result, retailers are addressing this change by creating more private-branded products with a higher quality appearance. The article also references The Nielsen Company February report (www.nielsen.com) which stated, "consumer product companies are still moving ahead with high-end product launches."
To read the entire article go to: www.packageprinting.com; March 2009 State of the Industry Overview, "What will it take to survive" by Kevin Karstedt.