On January 9th of 2018, The World Bank released their global economy forecast for the year ahead. In it, they revealed that they expect 2018 to be a year of growth, by approximately 3.1 percent.
While this is good news as a whole because some growth is better than none at all, there is still concern over the future of the worldwide economy as The World Bank labels this increase as nothing more than "a short-term upswing." A pendulum that, although it is expected to go up slightly in the next 12 months, will likely swing back down.
Despite this prediction, there is one industry that some economists believe will not only grow by leaps and bounds this year, but for several years to come. That industry involves print on demand t-shirts.
Print on Demand T-Shirt Growth
According to Research and Markets' September 2017 report regarding global t-shirt printing machines, this market is expected "to witness significant growth" in the next several years. In fact, it's anticipated that it will increase almost threefold by the year 2025, from $1,158.6 million USD (in 2016) to more than $3,000.0 million.
This report further indicates that the high level of growth is expected partially due to more customers wanting t-shirts that are custom designed, with the largest demographic tending to be younger in age. That's why many print on demand t-shirt companies market to this target audience.
Additionally, companies are finding ways to produce this type of apparel at cheaper rates, lowering production costs. They're not sacrificing quality to do it either as quality and durability are of "increasing demand," especially in North America and Europe. But what else makes a print on demand t-shirt company so beneficial to own?
Benefits of Operating a T-Shirt Print on Demand Business
For starters, there is a lower risk of over-purchasing product because of the print on demand business model. This mitigates the up-front costs and potential of buying too many of the wrong items, leaving them to sit on your shelves and collect dust.
Second, because the t-shirts are customized, the process of creating patterns and designs that are most appealing to a certain demographic tends to be simpler. Even if you lack creativity, one can always use t-shirt mockups and PSD templates (PSD refers to the Photoshop extension) to help develop eye-catching designs.
Third, a print on demand business model positions a company to be able to quickly change product design should the market experience a change as well. For instance, if there is a major event or movement, you can capitalize on it by quickly offering print on demand t-shirts with designs in support of that event or movement. In other words, you can appeal to the masses while the masses are still passionate and want to show the world just how much by the clothing that they choose to wear.
Finally, when you operate a t-shirt print on demand business, you're able to cater to a fairly large demographic because t-shirts are fairly common in many societies. Additionally, while some products are beyond some consumers' financial range, many t-shirts are offered at an affordable price. This gives you a wider market of potential buyers which, by default, also gives you greater opportunities toward growing your business.
In the end, now is a great time to be in the t-shirt print on demand business. This is true not only because of the level of growth that is expected in the next seven years, but because being involved in this industry comes with a number of advantages. Advantages that ultimately make print on demand t-shirts a business worth being in, both financially and figuratively.