FuturePrint Virtual Summit Q&A: Colin McMahon, Keypoint Intelligence
We spoke to FuturePrint Virtual Summit speaker Colin McMahon, Senior Editorial Analyst, Keypoint Intelligence, about the significant impact of COVID-19 on promotional signage, how the pandemic is boosting our digital dependence, why consumers might view print differently in the aftermath.
Don’t Miss Colin’s session, Business After COVID-19, on June 2nd.
Check out the full schedule here.
WHAT IMPACT IS COVID-19 HAVING ON THE INDUSTRY?
It is still too early to say definitively what kind of impact COVID-19 will have on print overall. That said, we’re seeing the same downward turn in the printing industry that is being felt across several others. Promotional signage printers in particular seem very poorly effected as COVID-19 has caused a dramatic downturn in retail, restaurant, and trade show attendance. Other segments of print are also suffering, but this one stands out to me.
WHAT KIND OF LONG-LASTING IMPACT ON THE INDUSTRY WILL IT LIKELY HAVE?
Overall, I think COVID-19 will further shrink the print industry. There will likely be a greater dependence on digital coming out of this pandemic, as so many people now have a deeper understanding of exactly how powerful and robust digital remote workflows can be. That said, it is also an opportunity for print companies and print service providers to evolve and gain a new understanding of the 21st century business world. Print may never again be the dominant player, but that doesn’t mean it won’t play a significant role in helping companies communicate with each other and their clients.
HOW HAVE YOU RESPONDED TO THE CRISIS?
My company has been full remote for roughly the last two months. We have canceled all trips and tradeshow events and are working to shift most of our presentations to a digital-first format.
WHICH SECTORS WITHIN PRINT DO YOU BELIEVE HAVE BEEN MOST STRONGLY IMPACTED BY COVID-19 AND WHY?
As stated before, promotional signage. DTG printers, however, may be seeing an uptick in business – at least so far as masks are concerned. Will this offset the loses from other segments: doubtful but at least it’s a silver lining. Like how digital book sales have soared, but not enough to offset the total loss of all retail business.
WHAT CONSUMER TRENDS DO YOU THINK WILL GROW AS A RESULT OF THE CRISIS?
I think consumers may actually feel a little more receptive to print since it is often seen as a “warmer” medium than the cold blue screen of the computer or tablet. Once COVID-19 is fully over, and I mean there’s a vaccine and everything, then you will also see people go out and spend spend spend.
