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PRODUCT INNOVATIONS AND TRENDS FOR 2023
Product innovation and industry trends for 2023
We speak to industry leaders to find out what they think will be trending in 2023 - and how to innovate the meet customer demand
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usinesses have faced massive challenges this year and undergone an incredible amount of change; as we approach 2023, this is not expected to slow down. Next year we will see further changes across the industry. Demand for hybrid working opportunities is set to increase, sustainability will be higher up the agenda and businesses will have to react to rising costs – all while working on products that reflect new and changing customer demands. So, what do industry professionals expect in to see in 2023?
THE TRENDS
As businesses continue to manage hybrid working environments there will be a focus on tools to support effective and flexible teamworking. “In the office the focus needs to be on collaboration, and making the most of the time spent together – through adjustable office layouts, switching out furniture and introducing new tools that promote flexible and effective teamwork,” explains Elisabete Wells, regional marketing manager at Acco. This could involve tech tools to connect hybrid and office workers,
or a dedicated desk layout to encourage agile working and collaboration. “Based on trends, we’re focusing in on collaboration products for the office and ergonomics products for the home office,” she says. “More specifically, we are looking at design-led, compact, lightweight, and stylish products that fit well into any home environment.” Jeremy Cooper, creative marketing consultant, is also focused on the need to support businesses as they adopt a hybrid workplace model. “Today, work is everywhere and everywhere is work. The flexibility of working from home, combined with the odd day or two in the corporate office, seems to be the norm, which means that products for hybrid working – especially those which are portable, offer health benefits and optimise productivity – will continue to grow in demand. “Hybrid working is very much the focus of our new product development plans for next year. The roadmap includes a series of exciting launches – including a new range of portable ergonomic solutions, cutting-edge monitor arms and intuitive technology for assuring optimum indoor air quality.”
The experts also predict that employee wellbeing will be a standout trend for 2023 so products that promote this, both at home and in the office, will be an important channel of innovation. According to Elisabete, this will be particularly prevalent in the provision of ergonomic office products, “Workers need ergonomic products to support their wellbeing wherever they are set up.” As businesses continue to return to the office the requirements and demands
of office working will have to be met. Steve Weedon, CEO at Printrite EU, highlights the rising demand for laser printing in the office. “During the COVID pandemic we saw more demand for ink jet products to feed homebased printers, but now we’re beginning to see rising demand for laser products again as workers get back to the routine of being officebased.” However, as some businesses do not plan a full return to office working, he does not expect a full recovery in laser demand. Steve also highlights the anticipated demand for sustainability in printing processes. “Innovative companies - those which make the investment to design and make IP-safe compatibles - are also designing better environmental products and reducing C02 footprint.” The demand for sustainability doesn’t end there though. Lawrence Savage, marketing manager at Exaclair, points out the importance of measuring the environmental impact of the purchasing decision-process - and the subsequent demand for products which put sustainability first - as, according to a report by RecylingLives, 81% of people prefer to buy from sustainable sellers. “Sustainability remains as a key influencer within the purchasing decision-process, so we are continuing to develop products that feature various environmental credentials,” Lawrence says. The growing trend of sustainable innovation in the industry is also set to be met by ACCO, “We are doubling down on our commitment to sustainability by improving the recyclability and ecofriendliness of more of our products and their packaging”, Elisabete says. “We are also widening our Leitz Recycle range of carbon
neutral and 100% recyclable desktop and filing products, which are made of up to 100% recycled material.” Lawrence and Exaclair will take that sustainable commitment into 2023 and drive innovation by reusing material offcuts. “Demand for more ecologically-aware items, and the need to cut production waste, has driven the innovations behind our Exacompta Teksto range of filing and organisational products, which reintroduces material offcuts from production back into the manufacturing process.” He also predicts a growth in journalling in 2023 to support personal wellbeing, and a high demand for related stationery products. “More people are conscious of enhancing personal mental health and wellbeing - this will also relate to other luxury stationery activities, such as calligraphy, influencing greater demand for high-end writing instruments and paper.” In fact, Lawrence says the luxury stationery sector is expecting a boom. “According to the latest statistics at The Business Research Company, the premium stationery sector is expected to see a boosted CAGR of 4.12% up until 2026. This will be primarily driven by the current emerging trend for personalised items - which has recently been top of the tree when it comes to online searches for stationery.”
THE IMPACT OF RISING COSTS AND INFLATION
Rising costs and inflation in the UK are causing massive changes and increasing the pressure on businesses to meet customer demand. “It’s highly likely that costs will continue to raise before they stabilise, but product innovation is at ACCO’s core and will continue regardless,” explains Elisabete. As the workplace continues to change in the aftermath of the COVID pandemic innovation will be key to supporting businesses through this challenging time; Elisabete is confident that ACCO’s plans will ensure they are always in front of the trends. “We are constantly monitoring
market and consumer trends to stay ahead of the curve and develop products that end users need. We work 18 months ahead, so our innovation budgets for 2024 are already secured and development is underway.” Steve Weedon agrees that demand for innovation will be felt across the entire OP industry. “We will not cut innovation spending since it’s a core principle of our business and reaps rewards – for example, the innovative, eco-friendly, products that are in high demand now. Product costs are likely to rise but I doubt if we will see prices increase as a result in the aftermarket. We prefer to position Pelikan branded products as an alternative to OEM but, with a 30% saving; we will continue this position through 2023.”
Jeremy also points out that, despite the demand for innovation, businesses must adapt to the growing, and often uncertain, economic pressures that are set to continue into 2023. “New products are the lifeblood of all expanding businesses, but economic pressures resulting in reduced end-user demand means is important to develop more cost-effective products and solutions to hit eye-catching price points.”
One particularly prevalent challenge facing the industry is the rising cost of production, energy and transportation. Lawrence believes the difficulties here can be reduced. “Dealers are increasingly seeking to source from suppliers which have the advantage of localised manufacturing facilities within the UK and Europe.”
This not only helps costs but is also a more sustainable option, which appeals to the younger generation. “Recent YouGov research illustrates that 70% of Gen Z members - who now make up approximately 40% of consumer markets across the globe - are willing to pay more to address their concerns over sustainable items. With this in mind, manufacturers are increasingly looking at smarter ways to cut production and waste disposal costs, whilst also innovating products that reduce excessive packaging usage to satisfy this environmental ethos,” he says.
PREPARING FOR CHANGE
As the economic pressures from rising costs and inflation change, so will the needs of customers. To prepare for changes in demand, dealers can work in close partnership with suppliers to increase availability and alleviate pressures with services such as marketing and training.
“ACCO are constantly launching new products and making them available to the reseller community as soon as we have them in stock in our Midlands-based warehouse.” says Elisabete. “We also help to alleviate some marketing pressure by providing free e-tail optimised content like copy, images, videos for effective online selling, as well as sell sheets, and product training for our channel partners. We understand that having these strong partnerships benefits both sides.”
Lawrence also highlights the importance of collaboration between dealers and suppliers. “Across the sector manufacturers are launching technical product innovations on a regular basis and it’s important for them to work in collaboration with dealers in order to create marketing collateral that can effectively communicate the benefits of these, whether from a cost or environmental aspect,” he says, and he believes collaboration brings its own benefits. “By proactively being involved in this process, dealers can build a more personalised
experience for their customers.”
However, for Steve, it is about the partners themselves - what they have to offer and how well they are suited to your business needs. “If a dealer sells on price, and skates on thin profit margins, he soon learns that there is always someone out there who thinks he can do it cheaper. To separate away from the crowd selling the same product in a different box you must have the ability to innovate and develop better products,” he says. “We have been doing this since 1984 which is why we hold over 3,000 patents and are the only company in the industry that offer TUVaccredited bio-based and eco-friendly products that reduce C02. These products are sold on a value-add basis, and do not need to be lowest priced in the market on the day to sell.”
For Steve, innovation began in 2022 with a product that eliminates waste toner in the printing process. “Our innovation and development strategy for 2023 is a continuation of what we have been doing for the last five years”, he says. “We are determined to improve on the basic OEM technology to eliminate waste toner being discarded with the cartridge when the printer calls for a replacement cartridge. In 2022 we launched the first products that eliminate any waste toner that usually collects in the hopper - which can be up to 15% of the original toner load. This is a major C02 saving since the waste toner is mostly carbon particles.”
There will also be demand for new processes to support customer needs in 2023. “Our best advice to dealers is to think ‘out of the box’,” says Jeremy. “Look for new opportunities and become the all-encompassing solutions provider for the workspace by helping their customers to work healthily, safely and productively - and delivering outstanding value.”
By identifying the trends and challenges for 2023 businesses will be able to provide innovative products to meet these demands. As we reach the end of 2022, we can all agree it has been a year of challenges and changes. This is not expected to stop for 2023, so businesses must find ways to innovate and meet growing industry trends and customer demand.
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inspiring success Enjoying this issue of Dealer Support? Enjoying this issue of Dealer Support? K If you like what you see, you can subscribe for free! Don’t miss out on receiving your If you like what you see, you can subscribe own monthly issuefor free! Don’t miss out on receiving your SUBSCRIBE TODAY! own monthly issueSUBSCRIBE TODAY! dealersupport.co.uk/subscribe to receive Dealer Support for free every month dealersupport.co.uk/subscribe receive Dealer Support DEALER SUPPORT DECEMBER 2019 ISSUE 294 Decemebr 2019 Issue 294 DEALER SUPPORT JANUARY 2020 ISSUE 295 January 2020 Issue 295 DEALER SUPPORT FEBRUARY 2020 ISSUE 296 Next Generation Shredders More Shredding. Zero Jamming. February 2020 Issue 296 Decemebr 2019 Issue 294 2020 VISION OEMS AND MPS DRIVING CHANGE IT PREDICTIONS PHIL JONES MARKETING DEALER SUPPORT JANUARY 2020 ISSUE 295 TRANSFORMING THE CHANNEL STEVE MCKEEVER inspiring success MADE FOR EVERY KIND OF CUSTOMER IT PREDICTIONS PHIL JONES MARKETING inspiring success EDUCATION inspiring success Sustainable, straightforward, long-lasting products trusted by inspiring success2020 VISION new products and category trends 2020 VISION New products and categories OEMS AND MPS How are OEMS helping sell MPS? customers at home and in the workplace for over 100 years; BANKERS BOX® is better in every way. A household name, and a family business since 1917, built on enduring values and manufactured with advanced techniques. Backed by engaging omni-channel marketing, effective customer support and a range intended to make category management simple. They’re much more than just boxes – they’re made for life. IT PREDICTIONS FOR 2020 What to expect for the year ahead PHIL JONES Brother UK’s MD talks learning and leadership MADE FOR EVERY KIND OF CUSTOMER Shred 100% jam free Shred with maximum micro-cut security Shred more, empty less with a waste bin capacity of up to 150% more sheets Shred with optimal efficiency The next level of performance and robust quality from the global leader in shredders. Fellowes new LX Series micro-cut shredders are thoughtfully designed with patented IntelliBar™ responsive technology. TRANSFORMING THE CHANNEL IN 2020 Predictions from Phil Jones DELIVERING WHAT’S BEEN PROMISED Steve McKeever’s advice for dealers BREAKING INTO
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