STATIONERY SECTOR
Asitha Samaraweera
WRITING A FRESH SLATE
Granting stationery an all-new life in the paperless era of e-learning
Stationery is an essential companion in the learning process
Edward Bulwer-Lytton once said: “The pen is mightier than the sword.” Stationery is an essential medium that translates our thoughts, ideas and expressions into physical form.
Impact of COVID- 19 on the local stationery sector
Reduction in consumption due to school closures, the sudden surge in e-learning and virtual classrooms, and growth in e-commerce.
Providing educational content digitally
To support continuous learning, and promote arts and crafts activities to keep kids engaged at home while stimulating creativity.
Using e-commerce as a channel
To reach consumers with novel pack offerings such as ‘home learning student packs,’ ‘home office packs’ and so on.
Pros of work from home (WFH)
Flexible schedules for both parties, enhanced efficiency and productivity, no office distractions and reduction in absence from work.
Cons of WFH
Increased isolation and limited interpersonal relationships, disproportionate work-life balance and flexible working hours leading to extended hours that leadership should be mindful of.
Barriers to sector growth in Sri Lanka
Almost static annual school enrolments, a drastic drop in the relevance of arts and crafts related stationery in education after primary grades, stringent cost cutting and offices shifting to paperless environments.
Prevailing economic uncertainty
Causes consumers to be more mindful of their purchases and challenges the sector to provide products with more value for money.
Three strengths of the local stationery sector
High quality products offered at competitive and affordable prices, organised distribution channels and flexibility to adapt to changes in consumer needs.
Weaknesses of the local stationery sector
Inadequate provision within the legislative system in dealing with intellectual property rights and high dependence on raw material imports – e.g. paper and plastics.
High seasonal component
Places pressure on stock holding, production and anticipating demand.
Product innovation and proper segmentation
Could drive impulse and lifestyle based stationery to lessen the seasonality impact.
Need of the hour
To enhance the customer shopping experience in the retail and digital spaces.
Local market in a nutshell
Has evolved with technology enhancement; product quality, variety and choice have increased – factors that were special five years ago are now hygiene factors.
Factors driving regional market growth
Increasing literacy rate across the region and growing number of youth pursuing higher education.
Product innovations in personalised and fashion led spheres
Revive interest in the category amid digitisation and increasing demand for green products.
The future of the global stationery sector
Digitisation is inevitable and the sector must redefine its purpose, and invest in techno-logy and innovation beyond the traditional stationery space.
Local vs global stationery sector
The local market is driven by functional benefits whereas globally, stationery has more of a lifestyle relevance and projection of individuality beyond functional deliverables.
New prospective customer segments
Home office segment, professional learners, green consumers, and adult and therapeutic users of arts and crafts.
Evolving consumer trends
Increasing ‘pester power’ of kids, rise in demand for eco-friendly products and consumer pressure for green products, and a growing interest in therapeutic application of arts and crafts.
Shifting demand to premium products
Driven by higher enrolments in international and national schools, and improving life-styles of mid-tier consumers.
Productivity has a spillover effect on economic growth
Increasing productivity leads to lower per unit costs and efficient output, resulting in higher competitiveness and profitability.
Corruption is affecting industrial and economic growth
Yes – corruption results in inefficient resource allocation and inhibits the natural forces of the economy from functioning liberally, which impacts overall economic development.
Competition drives innovation
No – we must understand consumer needs and problems, and focus on providing novel stationery solutions to drive innovation.
Key factor to building an innovation led organisation
Nurturing a culture of ingenuity and tech adoption.
To be competitive as a brand…
Sri Lanka’s identity must be projected in a more coherent and authentic manner, reflecting its rich heritage, nature, culture and people.
Virtual team management in a sentence
Fostering a team with a simple work rhythm and virtual culture to promote equal engagement is key.
Digital security in Sri Lanka
Must be more robust, stringent, adaptive and regulative.
Impact of social media and influencer marketing on the stationery sector
They play a vital role in reaching millennials and keeping the brand ‘top of mind.’
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