Market shows we are now waking up from pandemic slumber
After an unexpected recovery from the lows of March last year, the signage market is now seemed to be on the pathway to normalcy as many companies are re-focusing on new business models and activities. After all, despite the massive pandemic disruption, they could not shy away from the market realities. Ultimately they realise the fact that the key driver in business still remains switching to new business models and implementation of innovations in works.
Some leading signage players are now turning to buyouts and acquisitions. One of the leading signage majors with pan-India footprints had recently taken over an FRP company to expand business into new domain. Another major digital player is searching for takeover of some closed digital printing units abroad. This is how the signage companies are strategising plans to regain their lost business momentum. In fact, the revival of market from the pandemic slowdown depends on how quickly the pandemic virulence can be contained with every signage player sensing the pulse of recovery.
Now that manufacturing and construction have been allowed in industrial areas and selling of non-essential commodities in designated red zones has also been eased, these developments improve the supply side and bring back demands in the market. At this juncture, signage players must gear up to tap the market with new concepts and innovative applications. They must come out to tide the crisis, not be disrupted due to the fears and changing mindsets of their customers.
We know that most of the corporate companies faced severe cash squeeze during the lockdowns. Even large corporations which are normally flush with cash were delaying payments to vendors. It all happened initially when big brands scrambled to put out new advertising and stopped investment in promotional campaigns. But today, senior marketing leaders are now realising the importance of structuring for a sprint effort, especially in advertising and brand promotional activities. So, now is the right moment for signage players to pull their socks up!
Despite the upheavals defining the most difficult times in 2020, signage players in many parts of the country have come forward to prove normalcy in the market today and lay foundations for future growth. When our travelling team meet a host of signage players in Rohtak, Bhiwani and Gohana, most of them are quite optimistic about the market revival and normalcy in business. They shared that the days of pandemic is now over in the three cities of Haryana.
While the pandemic reminds us of our fragility, it also demonstrates how strong we are to overcome the unprecedented market situation. In a way, we are finally brought together to unite for a new revival!