Stationery growth has surpassed most optimistic expectations: Santosh Rasiklal Raveshia

The start of a new year is seen as bringing in new operational efficiencies, stronger strategies, a far greater emphasis on building deep bonds with various stakeholders and consumers. In keeping with the current market ecosystem, technology and a human approach are seen as going hand in hand.

As 2023 kicks off, Adgully has approached key industry leaders to Crystal Gaze into 2023, as part of our annual Trending Now series, to highlight the major trends and developments that they see dominating the industry in the year ahead.

Santosh Rasiklal Raveshia, Managing Director, Doms Industries, speaks about the remarkable growth of stationery industry during pandemic times and beyond, increased urbanisation driving demand for value-added products, an upsurge in product innovation in the Indian stationery industry, and more.

Key trends dominating the industry in 2023

The stationery industry is exhibiting remarkable growth post-COVID, surpassing even the most optimistic of expectations. This trend is expected to continue given the multiple facets contributing to the growth which include: huge investment by the government in the Indian education system, a favourable demographic composition, increased urbanisation driving demand for value-added products, and an increasing shift of business away from the unorganised sector towards organised players. As a result of all these factors, the stationery industry is anticipated to reach double-digit growth in the near future.

During the past 12 months, we have also seen consumers gravitating towards more stylish and value-added products. This has been experienced across the sub-segment – be it writing instruments, paper stationery, scholastic stationery, and art products, analysing the drivers of growth and the opportunities that lie ahead for the stationery industry. As a result, companies focused on R&D with superior product design are likely to be winners and shall be able to outperform the industry growth.

As the business environment continues to evolve and the international arena sees an uptick in geopolitical tensions and price movements, companies must adjust their supply chains and strategies accordingly. Recently, the supply chain challenges such as those posed by the Ukraine War, increase in oil prices, etc., have been gradually easing, which is a positive trend for businesses. This presents an opportunity for companies to establish consistent supply chain practices that enable them to meet market demand with timely supply.

Major expectations

The Indian stationery industry has been gaining momentum in recent times and is experiencing the advantageous impacts of both domestic and global growth factors. With the much-discussed China+1 policy likely providing further impetus, the industry is well-positioned to reap the rewards of a more profitable and mature market.  

We also believe that sooner or later the industry should see some consolidation with the emergence of a few strong brands with superior product offerings and strong distribution reach with an omnichannel presence. In addition to this, an increase in the scalability of production and a better understanding of the customers’ needs are set to contribute to the overall development of the industry.

The Indian stationery industry has been witnessing an upsurge in product innovation, with several new products being launched in the market. In addition to this, the industry is also making strides in terms of sustainability, with the use of eco-friendly materials and processes gaining ground.

As the Indian stationery industry continues to gain momentum and make strides toward a more profitable and mature market, we can expect to see some exciting changes and developments shortly. Undoubtedly, the future looks bright for the Indian stationery industry.

Key focus areas for Doms Industries in 2023

As we move into 2023, we are excited to announce our plans to significantly expand our business. We will be introducing at least three new product categories – writing instruments, adhesives, and fine art. We will also be expanding our geographic footprint, both in India and internationally, by reaching new retail sales points and entering into new countries. This will allow us to reach more customers with our products and services. In addition, we will leverage digital transformation to enhance our supply chain efficiency, with a particular focus on sales force automation and distributor management systems. By utilising the latest technology, we will be able to better serve our customers and increase our market share.

We believe that our investments in new products, increased manufacturing capabilities, and expanded geographic reach will indicate that we can better serve our customers and go further in achieving our business objectives.