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TrendWatch Reports That New Creative Markets are Growth
Areas in 2000
The new TrendWatch Business Conditions Index (TWBCI) for the Graphic Design
and Production Markets is showing overall positive signs for 2000. This
new index indicates how strong business will be for creative shops this
year.
For graphic design: Internet and new media activities, along with the need for corporate outsourcing, are driving the strong position of this market. The first half of 2000 will be even busier than last year and the TWBCI is up 8% from last year's, at a reading of 102. The index for graphic design has been positive for five of the six TrendWatch surveys.
For ad agencies: agencies had a great summer and their businesses may start to slow down. Olympic, election, and 2000/2001 promotions will help buoy the market. Though positive now, ad budgets might start to get tight later in the year if corporations have trouble meeting their goals. Down from last year's 133 reading, the TWBCI for agencies is a healthy 108, and has been positive in all six of our surveys.
For corporate design departments: pressures to keep costs in line to keep the record string of profitable years that Wall Street and investors like will limit corporate design departments' growth. Although showing negative now, if corporations have a good start to 2000, things might improve later in the year. This index is down to 81, from last year's 91, and has been negative for five of six surveys.
For commercial photographers: many commercial photographers are still moving from analog to digital workflows and trying to compete with the popularity of stock images. This market is becoming a "tale of two cities," one aggressively digital, testing the limits of technology, and the other searching for survival in old familiar places. This TWBCI has dropped from 107 to 83, and has been negative for four of the six surveys.
Knowing which markets are hot at least gives you a shot at putting your marketing and sales resources in the right places -- maybe even at the right time (now there's a thought!) to make your cash register ring! And we all like that sound, whether it's from just being lucky or actually using TrendWatch information to create the right strategy. The rapidly changing communications marketplace is creating new opportunities. While our recent index for commercial printing released in Fall 1999 was at its lowest level ever, the design and production markets are showing an enviable vibrancy. Although corporate design seems slow, their expenditures on outside services with designers and agencies is very positive and indicates a healthy marketplace. It is clear that Internet and New Media are providing the growth for creative professional markets, often at the expense of print budgets.
Contact Craig Kevghas at 978-392-8990 or email CPR Marketing at: kevghas@aol.com.