US Office Supplies Sales Revenue Declined 2% in 2022

Following year over year sales revenue and unit sales gains in 2021, the U.S. office supplies industry faced increasing economic headwinds, including double-digit average sales price (ASP) increases across a number of categories. In 2022, U.S. office supplies industry sales (excluding janitorial and breakroom sales) fell 2% year over year but remained 12% ahead of 2019, according to The NPD Group. Unit sales were down 10% year over year and 12% when compared to 2019 sales. 

Sales revenue during the 2022 back-to-school season (July through September) remained flat, compared to 2021, while sales in 2021 were 13% higher than 2020. Back-to-school season gains were driven by some staple categories, including presentation and reference products, which increased 3%, and office paper, which rose 3%. Many writing instrument categories saw gains with correction leading the way up 11% year over year, as did office essentials categories with pins and tacks experiencing 14% growth.  

ASPs continued to grow in 2022, growing 9% overall and by double digits in many categories. However, NPD’s Future of Office Supplies forecast anticipates ASPs will begin to stabilize in 2023, along with an increase in expected promotional activity. While this will contribute to the 1% year over year industry revenue decline expected this year, it will also impact unit sales, which are forecasted to remain flat in the year ahead, an improvement from declines in 2022. Anticipated areas of unit sales growth in 2023 are writing instruments, colouring and art, and presentation and reference.   

To view the top performing brands for 2022, visit the npd website.

Source: NPD

Product Innovations Spark Renewed Interest in Office Stationery Products

The “Office Stationery and Supplies: Global Strategic Business Report” report has been added to ResearchAndMarkets.com‘s offering. The global market for Office Stationery and Supplies estimated at US$152.7 Billion in the year 2022, is projected to reach a revised size of US$184.5 Billion by 2030, growing at a CAGR of 2.4% over the analysis period 2022-2030.

Computer / Printer Supplies, one of the segments analyzed in the report, is projected to record a 2.3% CAGR and reach US$54.3 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Paper Products segment is readjusted to a revised 2.4% CAGR for the next 8-year period.

To learn more about this report, visit the Yahoo Finance website. 

Source: Yahoo Finance