Assessment of the Domestic and International Stationery Market and Adjacent Market Growth Opportunities | Stax Inc

Assessment of the Domestic and International Stationery Market and Adjacent Market Growth Opportunities

The Situation
  • The largest stationery manufacturer in Sri Lanka was interested in identifying growth opportunities that best aligned with corporate strategy. They were interested in understanding the potential for growth in their current market as well as opportunities in adjacent markets.

  • The Client was also interested in expanding into two regional markets.

The Assignment
  • We conducted phone interviews in the Sri Lankan market speaking to customers, retailers, and distributors of school and office stationery. This data was supplemented through secondary research.

  • We also conducted research on the regional markets through in-depth secondary research. For market sizing, we also used primary research insights from on -the-ground partners.

  • The engagement also involved conversations with the senior leadership team to ascertain their views on growth opportunities, facilitate further thinking, and gain clarity on the collective vision.

The Benefits
  • While Stax provided the Client with growth opportunities in adjacent markets, we also recommend that they should focus on further growing their existing business.

  • Our findings were later used by the Client in pitching to potential investors to gain equity investment.

The Finding
  • We identified that despite being the market leader in the stationery market, there was still room to capture further share in a highly fragmented space. Furthermore, adjacent markets such as e-commerce and packing appeared to be attractive over the next five years.

  • Of the two regional markets, we found that one presented a significantly better opportunity to our Client due to its large and growing market size, lack of a dominant stationary brands, and favorable trade agreements with Sri Lanka.