A new research study published by Penfold Research reveals the New Zealand office products market has been performing noticeably better than neighbouring Australia.
Boosted by the relatively buoyant economy, positive sentiment and elevated levels of discretionary spending, market growth in New Zealand is three to four% above that of Australia.
However, with economic growth set to ease, conditions will tighten over the second half of 2015 and into 2016, according to Penfold Research
The broad New Zealand office products market (i.e. core and non-core) was valued at $NZ2.03 billion in 2014 – at end consumer prices. This represents growth of 2,2%, following flat growth in 2013.
While the core range is stagnating (that is, 0,9% growth in 2014) via declining product usage rates, the non-core sector is considerably better, registering healthy growth of 3,8% in 2014.
“We believe the non-core range offers a rich vein of growth opportunity for office product operators – for the next decade,” Andrew Penfold, director of Penfold Research, told Stationery News.
See the August issue of Stationery News for a detailed article on Penfold Research’s New Zealand market report. Andrew Penfold is a speaker at the Stationery News LIVE half-day conference in Sydney on 11 August. To register go to www.stationerynews.com.au/live