What do you feel were the main trends and key industry developments in 2024?
In 2024, we all felt a much-needed sense of stability, which allowed print and packaging companies to move forward with their business plans and make strategic investments. This year was all about enhancing efficiency through technology and processes, as margins continued to be squeezed from every direction.
The high level of M&A activity we've seen in recent years didn't slow down, and succession planning became a critical issue, revealing a gap in many business owners' strategies.
For me, one of the most heartening developments of 2024 was the increased sense of community within the industry. Organisations like Fespa, the IPIA, and the BPIF played a huge role in this, working with their members to work towards tackling sustainability issues, the perception of print, and engaging young people in the industry. More than ever, it feels like we were all in it together, supporting each other and working towards common goals.
What do you expect to be the main trends, key industry developments, and biggest opportunities for printers in 2025?
In 2025, the print industry will keep pushing towards sustainability and efficiency, driven by both regulations and eco-conscious customers. Companies will continue to invest in greener technologies, more energy efficient technologies meet customer demands, while also reducing costs. AI will also play a much larger role in helping to streamline operations and cut costs.
Mergers and acquisitions will continue, creating bigger, stronger companies and increasing competition. This will push smaller businesses to innovate and find their unique strengths. Concerns about employer National Insurance contributions will affect budgets, possibly leading to more severe cost-cutting measures or changes in hiring behaviour. We’re already working with companies to help them manage these costs carefully and make sure they’re aware of the options available.
What are Compass’s own hopes and aims for 2025? Can you tell us about anything exciting in the pipeline?
At Compass, our hopes and aims for 2025 are centred around supporting our customers' success. We want to work closely with them to help fulfil their plans and extend our support to a broader section of the market. Recently, we've welcomed four new team members, and we're excited to have three more joining us in January. This growth follows a period of significant investment in our internal systems and support teams, ensuring we have a strong foundation to expand the products and services we offer. We're looking forward to a busy and productive year ahead!
How can suppliers better help printers navigate the challenges and seize the opportunities in 2025?
By building strong partnerships. Being responsive, listening carefully, and understanding what customers are looking to achieve is vital. It's all about working together, being adaptable, and supporting each other to succeed in a changing market. And that’s where working with and supporting industry associations also plays a key role, as mentioned in the first question.
What did you think of Drupa? Do you plan to attend the show in 2028?
I loved it! It was really exciting to see the changes since the last Drupa, particularly the developments in sustainable packaging and reducing ink, power, and waste. I was there for the entirety and really enjoyed walking around the show with customers, looking at the latest innovations with them, supporting suppliers and even signing up some notable investments.
In addition to the show is everything that goes on around it; the vibrant evenings in the Aldstadt were equally as valuable as the time spent at the Messe during the day.
We will definitely be attending Drupa in 2028 to support both the suppliers exhibiting and the customers attending.
