Successfully navigating a rapidly changing media landscape has become increasingly important for companies and, in response, marketing consulting services have become vital for many firms to gain a competitive edge. Thus, strengthening demand for this market’s services has largely driven price growth.
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Media Placement & Fulfillment Services
The rate of price changes has varied among suppliers, with the advertising conglomerates at the top of the market instituting higher price increases than most other suppliers. This discrepancy reflects the growing dominance these top suppliers have over the market, which has allowed them to charge a premium for their services.
As the prices of major promotional product inputs, including apparel, textiles and writing utensils, have increased, distributors have been pressured to compensate for these costs by raising the prices of the products they sell to buyers.
Electrical Contracting Services
The value of construction has displayed strong growth, bolstering demand for electrical contracting services for residential, institutional, commercial and industrial buildings. As a result, suppliers have had greater leverage to raise service prices.
Facility Maintenance & Repair Services
Demand for specialized services, including fire protection, air treatment, restroom power cleaning and clean room sterilization, has been growing as workplace safety has become a higher priority for building managers. In response, large-scale operators capable of providing such services have increased their base facility maintenance and repair service offerings.
Inventory Management Software
Private investment in computers and software has been increasing, indicating rising demand among buyers seeking to integrate software, including inventory management software, into their daily operations.
MRO Inventory Management Services
Growth in manufacturing capacity utilization (MCU) and private investment in industrial equipment and machinery indicates buyers are operating and purchasing more machinery. Therefore, businesses need access to more MRO supplies that keep machines and the areas those machines occupy functioning and safe.
Given that uniforms play an integral part of any business that desires to promote its brand name and image, strengthening business activity fuels demand for uniforms. In the past three years, improving economic conditions and rising consumer spending have encouraged businesses to expand their operations and hire more workers.
General Office Supplies
There is a baseline demand for many of the products in this market because they are often used on a daily basis. However, suppliers are unable to drastically raise prices due to the shift in consumer preference from print to digital products.
Managed Print Services
As the economy has grown, the number of businesses has increased and expanded the pool of businesses that use managed print services to limit printing costs and streamline print processes. Gains in government funding for primary and secondary education have also stimulated demand for market services.
Office Furniture Systems
Due to the long and useful life of office furniture, demand tends to ebb and flow based on the economic climate. As economic activity has picked up, so has activity in key buying segments, including the healthcare sector and the education sector.
Wireline Telephone Services
Many customers have been dropping landline telephone services in favor of alternate communication methods. This shift in telecommunication preference is due to the improvement of mobile telephone technologies and other substitutes, which has made wireline telephone services significantly less desirable.
Cellular Telephone Services
Price declines are largely the result of a saturated market that has led to intense price-based competition among service providers. A key strategy implemented by carriers to retain and win business from other carriers in the past three years has been to cut their service prices slowly, with little volatility.
Consumer spending has increased as a result of rising consumer confidence and a dip in the unemployment rate, which have fueled growth in demand for corrugated boxes used to transport various consumer goods.
Digital Printing Services
While the number of businesses has risen, increasing the pool of potential buyers of printing services, businesses have begun shifting operations away from print documents and toward digital documents, as indicated by the decrease in print advertising expenditure.