Total revenue for the industry will remain above pre-pandemic levels
Port Washington, NY, December 19, 2022 – According to The NPD Group, U.S. office supplies industry revenue in 2023 is expected to decline 1% year over year but remain 7% above pre-pandemic (2019) sales (excluding storage categories as well as janitorial and breakroom supplies). In fact, NPD’s latest Future of Office Supplies forecast reveals industry revenue will remain above 2019 totals through the end of the forecast period in 2025.
Following the 7% increase in industry average sales prices (ASP) seen in 2022, ASPs will begin to decline next year, contributing to the slight dip in the forecasted revenue. Unit sales, however, are expected to remain flat in the year ahead, an improvement from declines in 2022. Anticipated areas of unit sales growth in 2023 are writing instruments, coloring & art, and presentation & reference.
“Continued innovation will be key to uncovering opportunity for players in the office supplies industry. Evolution related to product features, creative product use-case methods, or category revitalization through new designs or target market segments will help drive category growth,” said Tia Frapolli, president of NPD’s Office Supplies practice. “While technology’s impact on office supplies is often mentioned, 75% of consumers surveyed said they plan to purchase the same or more supplies despite the growing use of technology. This indicates unit sales for school supplies should remain relatively stable over time.”