Canon has released its latest report, titled ‘Exploring the Future of Print’, which seeks to understand the impact of consumer trends on print service providers
Canon has released its latest ‘insight report’ publication, titled ‘Exploring the Future of Print’, which seeks to understand the changing behaviours of brands and consumers and the impacts these are having on how print service providers (PSPs) operate.
The research uncovered five key themes that Canon wishes to explore, namely print’s USPs in a digital world; how brands can exploit these USPs to reach consumers; AI’s increasing role in print; why sustainable production will be vital for future success; and the value of forward-looking partnerships.
The latest market report consulted four of what Canon labels as ‘futurists’ – specialists whose jobs are to review and understand wider purchasing decisions, macro consumer trends, and transformational technologies.
Through detailed interviews, insights from the futurists were combined with Canon’s own print industry expertise with the aim of delivering actionable insights for PSPs.
One of these futurists, Murray Grubb, central government sales lead for Salesforce, said: “In what’s essentially a shrinking market, companies are walking a tightrope between retaining their existing customer base and attracting new customers for whom shared brand values is key.”
Insights uncovered across the five key themes include perceptions about how to connect with younger generations who are increasingly spending more time online.
According to Canon, young people are increasingly considering how their identity and status are projected in what they buy and how they can showcase those purchases. At the same time, consumers are increasingly aligning with brands with whom they share values.
Several of Canon’s futurists noted a direct connection between print’s unique physical characteristics and consumers’ desire to project identity and status.
According to the study, one reason brands continue to invest in print is because of the value perception it creates with consumers – especially due to the perceived time, effort, and cost that it takes to produce it.
Canon asserts that print’s strong USP in a digital world is driven by print’s haptic characteristics that “cut through digital noise”. According to the analysis, consumers are seeking out and appreciating physical experiences and interactions more deeply in an increasingly virtual world.
The panel of interviewees affirm that PSPs should consider new ways to monetise on this by offering what they describe as “attention as a service” – for example, with an out of home (OOH), point of sale (POS), or direct marketing piece delivered as part of a broader, joined up campaign.
The contribution of AI to the future of print was a prominent discussion point, with an agreement that, while businesses that use AI are expected to grow faster than those that don’t, the benefits of the technology will differ from business to business as will the rate of adoption.
Canon stresses that before integrating AI, PSPs need to ensure they have a robust IT infrastructure and data management in place and that they become ‘data literate’ so that they can advise their customers on how to leverage their data.
Increasing emphasis on sustainable production was also highlighted, which Canon believes will be essential for print’s future as regulators, brands, and consumers increase the pressure for better ESG standards.
The report gives ideas on how printers can optimise their supply chain and demonstrate their sustainable practices, documenting recognised processes and procedures that reduce carbon emissions.
The full report is available for request from the business insights section of the Canon UK website.
