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Printful Reports Rise in Print On Demand Business in 2020
Printful, the online printing, fulfillment and drop-shipping company said it has seen a surge in online shopping during the COVID-19 pandemic. According to the company, the growth in demand is not limited to big-box retailers but small online businesses that are looking to drive online sales.
Small retailers are looking towards businesses like Printful to pivot towards e-commerce to pick up the slack from dwindling demand because of the pandemic. Small online retailers are now reshaping the retail landscape as older retailers throw in the towel.
Printful revenues have seen steady growth increasing from $77 million to $116 million between 2018 and 2019. And that growth is going to continue in 2020 despite the pandemic as orders from solo merchants pour in.
Print on Demand Growth in 2020
- The company has seen an 80% year-over-year increase in order count over the last three quarters of 2020. Reflecting growing consumer interest in patronizing small online brands with unique and often edgy designs
- It also saw a 44% year-over-year growth in the number of new stores joining the platform during the last three quarters. Indicating that more consumers are creating online shops – possibly to offset income loss during the pandemic.
- During 2020 the online printing and drop-shipping company saw 25 million products fulfilled during Black Friday/ Cyber Monday.
- During 2020’s Black Friday/Cyber Monday Printful saw a 70% order increase. And order counts as high as 204 per minute (twice that of 2019).
- An increase in bulk orders during the Black Friday Cyber Monday (BFCM) weekend, including one $3,316-holiday gift order for 285 Beanies and Pom Pom Caps.
Small e-commerce
Printful offers small e-commerce businesses the opportunity to make and ship custom merchandise without ordering mass quantities at a time. Printful has more than 200,000 active online merchants using its on-demand printing and warehousing services.
The operations span across eight fulfillment centers around the world. This includes printing, embroidering, engraving, and shipping more than 230 different products ranging from t-shirts to coffee mugs, throw pillows, and phone cases.
Image: printful.com
This article, “Printful Reports Rise in Print On Demand Business in 2020” was first published on Small Business Trends
