Print Advertising Distribution Market On A Decline Due To Mass Business Closures
The Business Research Company’s Print Advertising Distribution Global Market Report 2020-30: COVID-19 Growth And Change
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The revenue of the print advertising distribution market is expected to decline due to mass business closures that are limiting the growth of the market. The print advertising distribution market consists of revenue generated from providing services by entities that are involved in the distribution and delivery of advertisement materials such as sample products, circulars, brochures, and coupons among others through door-to-door promotion, placing flyers, and handing the samples in retail stores. Only goods and services traded between entities or sold to end consumers are included. According to CNN Business, in 2019, US retailers announced 9,302 store closings, which is a 59% jump from 2018, majorly due to bankruptcy. Due to the mass store closures, not only that print subscriptions were lagging but there were no new business promotions as well, which meant there were no print ads, subsequently decreasing the revenues generated by the print advertising distribution market.
The global print advertising distribution market is expected to decline from $15.4 billion in 2019 to $14.4 billion in 2020 at a compound annual growth rate (CAGR) of -6.5%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The print advertising market size is then expected to reach $14.25 billion in 2023 at a CAGR of -0.35%. Internet access, digital advertising, and social media are playing as huge contributors to the decline in print advertising distribution. Asia-Pacific had the largest print advertising distribution market share in 2019 and is expected to remain the largest region in this market even in the forecast period.
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