Issue link: https://nbm.uberflip.com/i/1482193
G R A P H I C S - P R O. C O M N O V E M B E R 2 0 2 2 • G R A P H I C S P R O 5 5 Here are some other findings from our survey: Respondents feel competing with online alternatives is the greatest challenge to laser engraving businesses. Survey respondents indicated customer service and reliability of the laser as the top two factors when considering the purchase of a laser engraving system. 87% of respondents reported that sales in the last 12 months have either stayed the same or increased. Sales in Last 12 Months for Laser Engraving: Stayed the same 48% Increased by less than 50% 22% Increased by more than 50% 17% Decreased 13% Most shops (73%) reported having 3 or fewer employees. Current Number of Employees: 1-3 73% 4-10 16% 11-25 4% More than 25 7% Survey respondents reported that wood products and mugs/drinkware were the top laser-engravable products sold in their shops. Top Laser-Engravable Products Sold: Wood Products 68% Mugs/Drinkware 68% Awards and Plaques 64% Name Badges 52% Signage 52% Holiday Accessories 48% Home Accessories 45% Memorial Products 44% Desktop Accessories 44% Leather Accessories 43% ID Products 35% Pet Tags 34% Bag Tags 31% Industrial Tags 29% Plates 25% Rubber Stamps 15% Jewelry 14% Cut Fabrics 12% Paper Products 11% Code Processing (QR, UDI, and Barcode) 10% Monument (Stone/Rock Products) 10% Mobile Electronic Accessories 8% Medical Products 5% Other 5% Survey respondents listed mugs/drinkware as the top revenue-earning products. Top Laser-Engraved Products by Revenue: Mugs/Drinkware 41% Awards & Plaques 40% Wood Products 32% Signage 24% Name Badges 14% Holiday Accessories 13% Home Accessories 11% Industrial Tags 11% Memorial Products 11% Leather Accessories 10% Desktop Accessories 8% Pet Tags 6% ID Products 6% Jewelry 5% Plates 5% Cut Fabrics 4% Rubber Stamps 4% Bag Tags 2% Monument (Stone/Rock) Products 2% Paper Products 2% Code Processing (QR, UDI, and Barcode) 1% Medical Products 1% Other 4% The majority of respondents (66%) indicated that their business was expanding into other technologies. Yes, mainly to better serve current customers/economic climate 34% Yes, mainly to gain new customers 22% Yes, mainly as a hedge against future economic downturns 10% No 34% Are Businesses Expanding into New Technologies: 35% of survey respondents reported using a 24" X 12" table size for their laser engraving business. Table Size for Laser Engraving: 24" X 12" 35% 24" X 18" 22% 16" X 12" 12% 32" X 20" 12% 18" X 12" 11% 48" or greater 10% 40" X 28" 6% 39" X 24" 5% 29" X 17" 5% Other 11% GP