In recent years, the development of the stationery industry has been influenced by various factors, presenting a complex situation:
Slow recovery but limited growth after the epidemic: Due to the impact of the epidemic, the development of the stationery industry slowed down from 2020 to 2022. In 2023, the market began to slowly recover, with sales of a Morning Light stationery store in Chaoyang District, Beijing exceeding the same period in 2019, but the growth rate was limited. The situation of many stationery stores or sales stationery stores in 2023 has improved compared to the previous two years, but the growth rate has slowed down. According to data from the China Pen Making Association, from January to November 2023, 245 enterprises above designated size achieved a revenue of 13.6 billion yuan, a year-on-year increase of 2.9%.
Faced with numerous challenges:
Intensifying competition: Due to the considerable stationery business and low entry barriers, it has attracted numerous entrants, such as supermarkets and convenience stores, which have diverted customers. At the same time, after the epidemic, some consumers have turned to online purchases, intensifying market competition.
Policy impact: The introduction of the "double reduction" policy has had a certain impact on the demand for stationery.
Population factor: China's birth rate has plummeted sharply, with the new birth rate dropping to 12 million in 2020 and only 9.02 million in 2023. The market is concerned about the future decline in the new birth rate.
The growth rate is lower than expected: According to the data released by the "China Industrial Statistical Yearbook", the operating income of pen manufacturing enterprises above designated size in the Chinese stationery industry in 2023 is about 18.8 billion yuan, with a growth rate of only single digits, and the recovery process is far from the industry's expectations.
Enterprise performance differentiation: Leading enterprise Chengguang Co., Ltd. achieved a revenue of 23.35 billion yuan in 2023, a year-on-year increase of 16.8%, and a net profit attributable to shareholders of 1.53 billion yuan, a year-on-year increase of 19.1%. The business of writing tools and student stationery resumed growth. But other companies have performed poorly, such as Xinhua Media's revenue from cultural and educational supplies, which has been declining from 2019 to 2023.
Industry new trend: In order to resist the downward trend of the industry, many companies have launched joint new products, as well as toy stationery such as rubber chip mini vacuum cleaners and desktop cleaners, but these measures have limited effect. In addition, the stationery industry is also showing a trend towards high-end and high priced products, with some high-quality stationery items priced higher.