- Tags : Office Management | General Office Supplies | Price trend | Price forecast | Procurement research | Category market forecast
Recent Price Trend - General Office Supplies
The price of general office supplies has been rising at an estimated annualized rate 0.2% in the three years to 2017. This trend takes into account the many types of supplies covered in the category. The price of writing utensils, for instance, has been rising an estimated 1.9% per year on average from 2014 to 2017. In addition, the price of paper has been falling at an annualized rate of 0.8% due to waning global demand for paper stemming from rapid digitization. Suppliers generally have slim margins and keep prices elevated to protect their costs, especially as various input costs fluctuate in line with the uncertain global market.
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. Consumers have increasingly adopted digital products, such as tablets and smartphones, thereby reducing demand for print products and general office supplies. Decreasing demand for general office supplies has reduced the ability of suppliers to increase prices as they attempt to retain buyers.
Despite a minimal rise in prices, volatility has been low in the three years to 2017. Low price volatility benefits buyers because it reduces the risk of high year-to-year price shifts. Therefore, buyers have been able to accurately budget for office supplies. Buyers can also consider stocking general office supplies in bulk to receive discounts and lock in lower prices before they rise further.
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