You need to evaluate the future trends in your industry. Several incidents recently impressed me with that message. I share two of them with you.
Future Trends of the Printing Industry
The following details indicate that printing companies may need to reevaluate their business. I thank Book Baby.com for sharing the information in their publication eBook-publishing-guide.pdf:
- Opening day sales for Dan Brown’s The Last Symbol sold more copies for Amazon’s Kindle than in hardcover.
- Amazon announced in July 2010 that its overall eBook sales topped hardcovers.
- For 3 months in 2010 Amazon sold 143 Kindle books for every 100 hardcover books.
- Amazon announced in January 2011 that it sold more eBooks than paperbacks in the US during the final three months of 2010.
- Amazon sold more eBooks than hardcover and paperback books combined during the first six months of 2011.
Based on those statistics what plans should printing businesses make for the future?
Future Trends for Grocery and Retail
My daughter-in-law taught me how to use a web site to evaluate food and other sales and discounts. We use a web site called Pinching Your Pennies to find the lowest prices in all of the local and national stores. I then peruse four papers that come in the mail for coupons indicated on the web site. I write all the products and prices onto one sheet. Finally I take my papers and the newspapers to one store that matches the prices of all other stores.
Recently, I’ve seen many stores offer to match the ads of their competitors. Technology allows people to share prices, and stores match other prices. Client loyalty changes with such price matching.
Based on those trends what plans should grocery and other retail stores make for the future?
Future Trends Will Affect Your Business
Business owners should not ask “If future trends will affect their business?”. They should ask “What future trends will affect my business? How and when will they affect it?” You can find the answers to these questions from a variety of sources.
We will discuss how to find trends for your industry in our post on Thursday
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