INSTAT, the most expensive education

This academic year has become more expensive for all levels of study. Textbooks and school supplies have cost more since September 2018. Education services during 2018 have also increased compared to years ago. The biggest impact on this increase was due to school supplies and books in the 9-year cycle from 5th through 9th grade. According to INSTAT data, retail books and textbooks sales volumes increased in 2019. Textbooks' sales volumes rose 7.6% in July, while April-June reported 7.5%. During the year, the highest was in February-March, which is recognized at the school as the start of the second semester and the increase in school activities.
The price of educational services has also increased in 2018 and compared to 2014, the increase has been about 15%.

Albanians, with the highest spending on education in Europe

INSTAT data on living standards showed that the share of education spending reached a record high of 4.4% of total consumption in 2017, up from 1.7% a decade earlier. Comparative data from the Household Budget Surveys of the countries of the region and Eurostat, compiled by Monitor at the end of 2017, show that Albanian households have the highest share of education spending in the region and in the European Union. .

The EU average is 2.1%, while a family in the region costs far less (in terms of total spending) to educate their child. Serbia, Macedonia, Bosnia and Herzegovina have this ratio between 0.6-0.7%, while in Croatia it reaches 1.1%. The Kosovo Institute of Statistics reports in the latest Household Budget Survey 2016 that the weight of education spending in the total budget is zero. According to INSTAT data, in the 2016/2017 school year, the number of students enrolled in education in Albania was 596 thousand, of whom 24% attended higher education.

Global market

The global school supplies market is expected to grow over 3% over the period 2019-2023, according to latest market research report Technavio. Some retailers offer notebooks, pens, pencils, book covers, labels and other school supplies included with a high degree of personalization to better connect with consumers.

The rapid development in printing technology and software has enabled retailers to deliver customizable designs, thereby connecting and evoking a sense of authenticity among students. What's more, retailers offer product customization to embed an emotional dimension to their product, actually at no additional cost to the consumer. Overall, increased product personalization is expected to continue to drive the growth of the global office supplies and school supplies market during the forecast period.

According to Technavio, innovations in products such as notebooks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global study of School Tools Supply 2019-2023 study also analyzes other important trends and market drivers that will influence the market growth during 2019-2023.

Due to the fragmented nature of the market and strong price-based competition, the report shows that retailers in the global school supplies market are increasingly emphasizing innovative product offerings to gain a competitive advantage. Vendors are embracing innovation not only in writing and computer-based tool supplies, but also in paper products. Due to the increasing use of mobile devices powered by the Internet as teaching tools in classroom education, students are encouraged to bring their own devices, such as tablets and smartphones to classrooms to aid the learning process.

In January 2018, ITC announced that they are developing Augmented Reality (AR) techniques for their Classmate notebook brand. Students can scan the cover image through a third-party AP app, turning it into an attractive puzzle or game. Therefore, innovation in school office supplies is expected to continue as an essential tool of marketing and product differentiation in the global school supplies market during the forecast period.

â??There is a strong competition among retailers in the global market for textbooks because of the fragmented nature of the market and the largely undifferentiated nature of products. This has increased product innovation in school supplies in recent years. International and regional product vendors include product innovations related to functionality, product features and packaging to drive growth, â?says a senior analyst at Technavio.

Source: Monitor