Industry Segments and Regional Forecast By 2031 | Says FMI Analyst
Hang tags are now used in a variety of businesses outside textiles and apparel, including food, hospitality and travel, and beauty and personal care. This will enable sales in the hang tag market, according to a study by Future Market Insights (FMI). By 2021, the market is expected to be worth US$ 1.7 billion. Hang tags are a popular label/tag solution that are typically used with or affixed to goods to display information about the item. Hang tags are also seen to be a good way to brand products and give them a nice appearance.
There are various types of hang tags available, including those made of paper, fabric, and plastic. Paper hang tags, in particular, are in high demand. Shifting millennials’ purchasing habits from brick-and-mortar to online shopping has raised clothes and apparel sales significantly, and this will be one of the primary drivers driving the hang tag industry. The clothing and apparel industry’s rising demand will continue to fuel expansion. In 2021, it is estimated to account for more than 60% of market sales.
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Who is Winning?
- CCL Industries Inc,
- Sato Holdings Corporation ,
- Nilorn Group
are the top players operating in the hang tags market. Furthermore,
- St. Louis Tag Company,
- Bornemann-Etiketten GmbH,
- WunderLabel Company,
- Dortex Werbung und Vertrieb mbH, F
- inotex USA Corporation and
- Pacific Coast Bach Label Inc
are also the noticeable players in the hang tags market. The Tier 3 players in the market hold 80-85% in the global hang tags market. In conclusion, key players contribute almost 15-20% of the global market.
Key Takeaways from Hang Tags Market
- After a period of lackluster sales, hang tags market will register 5.2% CAGR between 2021 and 2031
- The U.S. will remain the chief hang tags market in North America, accounting for over 80% of sales
- Expansion of beauty and personal care industry will aid growth in the U.K.
- Presence of a growing textile industry will drive the India market for hang tags
- Increasing demand from food and beverages sector will support growth in China
“Incorporation of eye catchy printings on hang tags coupled with smooth finishing make them exceptional brand communicators with target audience. Emergence of hang tags as an effective medium of interaction between item and customers has catapulted its popularity among the brand owners. This popularity for hang tags among the brand owners has transformed into lucrative opportunities for hang tags manufacturers” says FMI analyst.
Printing on Hang Tags to Elevate Brand Image of Product
Leading as well as small food & beverages, beauty and personal care, clothing and apparel industry players across the globe are preferring labelling solutions such as hang tags, loop tags, and swing tags for brand promotion and attract end-use customers. Printing on hang tags with precise product information helps brand owners to differentiate their products from competitor’s products already available in the market.
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Hang tags can be printed with several printing options such as flexo printing, direct thermal and thermal transfer, and others as per the requirement. These custom printing options able to print all sorts of prints on hang tags starting from barcodes to track your product to any other form of information as per the customer needs. Quality of print on hang tags plays a pivotal role in hang tags aesthetic look and its finishing.
Such printing on hang tags improves the overall look of hang tags and make it attractive and it also gains the attention of consumer towards the product. Availability of such advanced printing options is offering several opportunities to hang tags manufacturers to design and manufacture more attractive and catchy hang tags to attract a major portion of customers in the market.
Impact of COVID-19 on Hang Tags Market
Global wave of COVID-19 pandemic has induced moderate impact on the sales of hang tags in the market. Substantial portion of demand for hang tags is derived from clothing & apparels, hospitality and travel and food & beverages sectors. Stringent lockdown in several regions including North America, Europe and Asia has created negative impact on these industries in terms of demand and supply.
Lesser demand generation for hang tags from these industries resulted in stagnant market growth for hang tags amid the COVID-19 period. Furthermore, the second wave of pandemic in some countries, halt the production of manufacturers including hang tags producers which will further limit the sales of hang tags for certain period. Nevertheless, factors such as recovery from outbreak, revised demand & supply of raw materials in production plants is estimated to fuels the sales of hang tags in the later part of 2021.
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Hang Tags Market by Category
- Other Composite Material
- Hang Tag/Swing Tag
- Loop Tag
- Direct Thermal
- Thermal Transfer
- Flexo Printing
- Offset and Screen Printing
- Laser Printing
- Clothing and Apparels
- Food and Beverages
- Hospitality and Travel
- Beauty and Personal Care
- Consumer Electronics
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
common myths about technology that prevail in the real estate industry.
Myth #1: “It’s too expensive.”
The industry’s age-old excuse for not adopting technology is that doing so will be too expensive. Not only is the cost of the devices high, but property managers also worry about the installation costs. However, times have changed for the better.
Little do they know that technology has significantly advanced to the point that it costs a fraction of the price to manufacture devices now than in the past. Property technology hardware — such as intercoms and smart locks — has become sleeker, simpler, smarter and much more affordable.
The reality: Although the cost of entry might seem high (relative to other capital expenditures for your property), many property technology solutions pay for themselves quickly. Simply put, you’ll see ROI on those proptech devices relatively fast: The more efficient building processes are, the more time staff has to retain and attract residents. And ultimately, technology leads to faster lease-ups, helping your building reach stabilization in no time.
Related: The Impact Of Digital Transformation On The Real Estate Sector
Myth #2: “My staff will feel replaced.”
The fear that technology will replace jobs is not unique to real estate. However, this fear has been lingering since the advent of the telephone — perhaps even before that!
But did you know that real estate, particularly property management, has one of the highest employee turnover rates? That’s because people in the sector feel burnt out at faster rates than in other industries. And a major source of this burnout has to do mundane, time-consuming tasks repeatedly throughout the day.
The reality: Proptech automates repetitive and mundane tasks, leaving staff more time and energy to provide high-touch services. For example, instead of spending hours on end entering tenant information in databases or processing package deliveries, having the right proptech devices automates and streamlines those very tasks. And staff can instead focus on developing irreplaceable relationships with tenants and combat burnout.
Myth #3: “The devices are too complicated to install and use.”
It’s true that many proptech solutions used to take long to install and often required wiring throughout the whole building. But not today.
Think back to the last time you set up a smartphone or laptop. Chances are that it only entailed powering the device on and signing into your accounts. But industry veterans probably remember it used to be much more complicated than that. The same is true with real estate technology.
The reality: With the advent of wireless technology, most proptech devices only require a power source and an internet connection. Long gone are those expensive wires that had to be run throughout the whole building. And if you know how to use a smartphone, you know how to use these devices.
Related: Real Estate Is Way Behind in Tech. Here’s Why and How to Fix It.
Myth #4: “It’ll lead to easy data breaches.”
Some real estate professionals love doing things the “traditional” way. But at the same time, they prioritize security above all else. From listing a property to buying it, every facet of real estate requires attention to security. So, it’s ironic that some people don’t want to use today’s top-notch security solutions and software because of the fear of data breaches.
The reality: With advanced technology like blockchain, quite the opposite is true. Using technology — such as storing important information in the cloud — is the best way to safeguard it. Technologies like the blockchain ensure accurate, safe and fast real estate transactions.
Myth #5: “The industry simply doesn’t need technology.”
As one of the biggest industries in the world, real estate loves to toot its own horn about not needing technology. But in today’s digital age, every industry needs technology to stay competitive and relative. If you really think about it, many parts of real estate do actually use technology — from online property listings sites to property management software. So, why not just embrace technology and reach the new horizons that it lets us grasp?
The reality: As we witnessed during the pandemic, technology was our lifeline, including in real estate. For instance, technology has enabled the mass work-from-home shift, contactless deliveries and building entry, and even health screenings upon entering buildings.
Related: This Proptech Is On The Move
Simply put, now is the time for real estate to adopt technology on a large scale. In such a technology-centric society, failing to do so will cost the industry valuable employees and tenants, when it’s already a tight market on all ends.
Therefore, adopting technology is one of the best ways to have a competitive advantage in real estate. Today, more and more people see tech-enablement as the expectation, not the exception. To remain among the top industries globally, real estate must be receptive to technological change.
Copyright 2022 Entrepreneur.com Inc., All rights reserved
This article originally appeared on entrepreneur.com
Oh, hi there! Please wipe your feet before you come in. How are you today? Ready to buy a house in San Francisco, I hope! My name is Drew and I’ll be your tour guide. Please help yourself to fruit, Entenmann’s cookies and miniature bottled waters over on the kitchen island. All of it is complimentary, so long as you’re willing to listen to me give you an elevator pitch that, defying all business logic, runs 25 minutes long.
In all seriousness though, if you’re in the market for housing in San Francisco proper, you’re probably already worried. You’ve read the stories. You’ve lived through past real estate bubble/crash cycles nationwide. You’ve heard that San Francisco is this country’s foremost example of listings gone haywire, with sentient Teslas gobbling up every available home before you’ve even logged on to Redfin. You’ve gasped in outrage at sticker shock porn online, where a studio apartment in the Castro with no bathroom and no roof that is actually just a cardboard box in an alley is listed for $1.5 million. You’re worried you’re gonna get f—ked.
Which is where, to pretty much everyone’s surprise, I come in. I do not live in San Francisco. I live on the East Coast, meaning my notions of the city’s situation have come via the media, or via my sister, who lived here for over a decade and was eventually forced to relocate after the cost of living became too high for her and her family.
SFGATE columnist Drew Magary takes some notes before checking out 2164 Hyde St., No. 408, a co-op unit for sale in San Francisco on May 24, 2022. He is inspecting the state of the real estate market in San Francisco.
I wanted to figure out whether it’s possible to live in San Francisco if your income is less than that of Klay Thompson’s, and what your home will look like if you do manage to find a place. So I recently visited the city for a week to tour houses, talk with market analysts, and grill every real estate agent I came into close contact with. It was a LOT of real estate agents. A dangerous amount. I talked to so many real estate agents that a tasteful pantsuit spontaneously grew around my body.
But I saw this market with fresh eyes, and I got some answers. I’ve studied the research. I’ve talked to the principals. I’ve also toured homes that are alternately breathtaking and dire. One of them had a corrugated steel fence that made me feel like I was examining an airplane graveyard. All of them will cost you. My job was to find out just WHAT they will cost you, in terms of both money and your general mental health. And to make some jokes along the way. Lo and behold, I have done all of those things. Read on.
SFGATE columnist Drew Magary walks up a staircase at 1160 Greenwich Street #300 a condo for sale in San Francisco, Calif. on May 24, 2022. He is inspecting the state of the real estate market in San Francisco.
SFGATE columnist tours various San Francisco homes currently on the market during his reporting on the city’s real estate landscape. (Douglas Zimmerman/SFGATE) SFGATE columnist tours various San Francisco homes currently on the market during his reporting on the city’s real estate landscape. (Douglas Zimmerman/SFGATE)
San Francisco proper is the second-most densely populated city in America after the borough of Manhattan, and 29% of its households make more than $200,000 a year. That is, by far, the largest income demographic in the city. The next biggest one is people making $100,000 to $149,999 a year, at 15.2%. This is an annoyingly rich city.
And if you think the pandemic helped cool down prices after every yuppie fled the joint for Marin and beyond, you would be wrong. While COVID-19 cooled off a white-hot home sales market for about four or five months and contributed to a population drop in the city, it created a pent-up demand for luxury homes once the pandemic ebbed. When it did, home buyers, especially the most affluent ones, returned to the market with terrifying, and lasting, force.
“After the pandemic hit, the world became very quickly divided into winners and losers,” Compass market analyst Patrick Carlisle, who provided me with many of the stats you see above, told me. The losers got sick with COVID and/or became unemployed. The winners worked from home and watched their stock portfolios overflow with impossible gains. Then, once properly vaxxed (one hopes), they drove the luxury housing market in San Francisco higher than it’s ever been. The median home sale price in SF so far in 2022 is $1.95 million. That’s double the median price from less than a decade ago, and nearly quadruple the amount from the turn of the century.
In fact, there’s a hard dividing line right at the $2 million mark for homes in the city. Since the summer of 2020, rolling sales data for joints over $2 million has DOUBLED, with sales still on the increase. Those figures are higher than they’ve ever been. Higher interest rates and a declining stock market haven’t quite yet tempered the enthusiasm of the well-to-do, although there’s still some room for citizens of more modest means. Not much, but some.
According to Carlisle, new market listings are up 3% since a year ago. On any given day, you can expect to see nearly 1,200 active listings. But those availabilities are not all created equal. Modest single family home listings are barely existent. Ones that stay on the market for a long time are probably haunted, or have foundations made of crushed glass. However, Carlisle’s research found that overall price reductions on the market are up 50% versus a year ago. So if you’re on the hunt for a joint under $2 million — and imagine living in a place where merely being below $2 million counts as affordable — there’s a chance you can find a deal. Below $2 million, in fact, sales are actually down. But with those homes, you may have to make a few … compromises.
The first house I toured that was listed under $2 million was located in the Inner Richmond and had just two bedrooms and 1.5 bathrooms. It did have an attic accessible by ladder though, in case you need a place to hide an antique treasure map. The backyard was a swatch of artificial turf, which frankly looked both handsome and easy to maintain. The real estate agent on hand encouraged me to look at photos of the house online, even though I was already right there, standing inside of it.
SFGATE columnist Drew Magary climbs a ladder to view an attic space at 231 12th Ave., a house for sale in San Francisco on May 24, 2022. He is inspecting the state of the real estate market in San Francisco.
A condo I looked at in Eureka Valley, listed at $888,000, was a basement unit that, from the outside, looked like the kind of underground dwelling a PI steps into cautiously. But inside, it was newly renovated, staged with plain black tees hanging in the closet and a backyard divided right down the center by a retaining wall. So it had that going for it. I’ve slept in worse basements. Thrown up in them, too.
Many of these units come from old bones, which means they weren’t necessarily built with modern amenities in mind. I toured not one, but two condos where the washer/dryer stack was located in the bathroom, right next to the toilet. And you know what? I didn’t even flinch. I wasn’t like, “ewwww I don’t wanna change my whites while I’m mid-dump.” I was just like, “yeah I could get used to this.” It’s remarkable how quickly you’ll forgive a home’s flaws when you understand this is the market, especially when you love many other things about the place, and when you just want the process to be over with. You will learn to love washer/toilets, and floor plans with odd angles, and “flex spaces” that can be any kind of room — except a comfortable one. You will be compelled to make do with what little space you have. Putting your bed right next to your water heater is a triumph of ingenuity, and don’t let anyone tell you any different.
You may as well go ahead and add private school tuition costs to the list price while you’re touring San Francisco. I’m the kind of parent who treats GreatSchools ratings as gospel anytime I’m dicking around on the Realtor.com app. Any school that gets an eight or above passes muster. Below that? GARBAGE. Are these ratings worth a crap? No. But San Francisco public schools, to no one’s surprise, wouldn’t come close to passing my stupid GreatSchools test, even if the ratings were accurate. Real estate agent Paul Kitchen relayed a rather uncouth story about it to me:
“When I was in eighth grade, I had a math teacher who said, ‘If you didn’t do well in math class, you could go to public schools in San Francisco, where the only thing you have to pass is the metal detector.’ They’re not well-funded, and they’re not well-managed. So you don’t really have an option.” And who doesn’t love shopping around in a market that forces you to compromise on every last thing you want?
SFGATE columnist Drew Magary, left, is shown around by real estate agent Paul Hatvany Kitchen the condo 1160 Greenwich St., No. 300, which is for sale in San Francisco on May 24, 2022. Magary is inspecting the state of the real estate market in San Francisco.
Douglas Zimmerman/SFGATE Location(, Location, Location)
You might already be thinking to yourself, “Fine then, I’m gonna live outside of the city! I’ll spend half my life commuting, but I’ll be happier, damn it!” Alas, home prices have increased MORE just outside of San Francisco than they have in San Francisco itself. Median house sale prices in greater Oakland and Berkeley are currently $1.25 million, which is nearly double that of just six years ago. But that’s not even the biggest kick in the crotch.
Your average monthly payment on a home in the East Bay will be over $6,000, which is $2,000 more than a year ago, due to higher interest rates. THANKS FOR NOTHING, BIDEN. And real estate agent Michael Spivey gave me an idea of what awaits you if you venture way out into the boonies:
“Within River Islands (in the Central Valley), they have some new construction that’s coming soon. They would literally have lines of people waiting outside overnight to be able to get into these homes. For new construction. Just to be able to sign their name on a waiting list. Not even to get a home guarantee to sign. There were some developments that just completely shut down their list for months because it was already filled, to the point that they didn’t even have homes prepared for as many people as they had on the list.”
Thus, simply landing a spot in San Francisco itself is a triumph of location. I toured one condo in Potrero Hill that had a gorgeous view … of Interstate 280. And while that view made me feel like I was forever on my way to the airport, I could see myself getting used to it. This is your brain on a real estate tour. If you want San Francisco badly enough, you can convince yourself of a future lifestyle that, from afar, you never otherwise would.
SFGATE columnist Drew Magary, right, talks with real estate agent Vanessa Hatvany Kitchen while checking out 2164 Hyde St., Unit 408, a co-op for sale in San Francisco on May 24, 2022. Magary is inspecting the state of the real estate market in San Francisco.
Douglas Zimmerman/SFGATE Competition
Most homes in San Francisco still sell over the asking price. In fact, sellers bank on it, and a good number of real estate agents list their properties at a number that they know they’ll never accept, because they know they can trigger a bidding war if they do. And if you’re like, “Well, actually I have $3 million in the bank because I’m the CFO of Zoox,” you still might get left out. Real estate agent Vanessa Kitchen, sister of Paul, gave me a horror story to demonstrate:
“Unlike New York, the rudeness here is well-disguised. But mostly, people will just pay more money. I had a buyer who bid $2.3 million on a house. It was listed at $1.9 million. A big overbid. Everyone was happy. Then, five minutes to the offer date, the buyer got a $3 million dollar offer. Which was wildly inappropriate, honestly.”
The buyer took that $3 million offer, of course. It gets more inappropriate. Real estate agent Jennifer Ferland told me that buyers often have to get “creative” with their offers, and what she meant by “creative” was paying for a house in cash. One hundred percent upfront. “Maybe they’re borrowing money from their parents,” she said. “Maybe they own a property, or they’re pulling money out of another property. It makes their offer more competitive with a cash offer versus a loan. And as a seller, there are less hoops to go through. A cash close can be seven days and there’s no appraisal. There’s no bank to get involved. There’s no underwriting.”
When I told Jennifer that in skipping an assessment, the buyer is suddenly taking on lots more risk, she nodded solemnly. “Of course you are, but that is the norm in San Francisco.”
Her fellow agent, Brad Coy, agreed, and has witnessed the enervation his buyers have experienced when facing stiff competition: “My buyers have already cooled off and taken a step back, or they’re tired, or they’re just going full force. It’s typical in San Francisco. My experience of working with buyers is generally, they have to get beat up a little bit.”
That’s you. You are going to get beat up. Speaking of which …
The exterior of 1160 Greenwich St. which has a condo for sale in San Francisco on May 24, 2022.
Douglas Zimmerman/SFGATE Parking
All of the high-end homes and condos I toured in San Francisco had their own parking, usually in the form of a garage so tight that you’d need to own a Matchbox car just to be able to open the driver’s side door. I toured one apartment on Hyde Street with strong Manhattan vibes — built on bedrock, no outdoor space, a pristine and newly renovated kitchen that looked destined to never be used by its eventual owner, a Lucite Connect Four set tastefully adorning a coffee table — that was listed for nearly $5 million. That price, in my opinion, was entirely derived from the fact that the apartment came with its own private charging station for your electric vehicle.
San Francisco has always been a wealthy city, but in this century, wealth has migrated from investment bankers and lawyers to tech magnates and their protégés. I know precisely what that gang’s priorities are when it comes to notions of fine living: apartments designed like f—king Apple Stores, plus a car plug to call your own. For the rest of you, you can either buy a $5 million Victorian that was built before garages, and cars for that matter, even existed. Or, you can endure the grind of daily street-parking angst. Iron sharpens iron.
The living room at 2200 Lyon St., a house for sale in San Francisco on May 24, 2022.
Douglas Zimmerman/SFGATE Staging
Pretty much every house you tour will be staged, because the market demands it. Also, most every home you tour will be recently renovated, because no one here has the extra money, or the patience, for fixer-uppers. They want to start living well right away. Paul Kitchen told me, “The city is totally stalled with permits. It’s a combination of a rush of people wanting to do it, difficulty with the administration, and also a lack of good contractors.”
According to Coy, half the homes on the market used to be shown empty, or as-is. But those sellers quickly fell in line with staging because A) staged homes look nicer, and B) fair or not, buyers like you will hold an unstaged home against the seller. I know I did. I toured one unstaged home in the Mission and the emptiness was glaring. Like I had just moved out of the joint rather than moved into it. Whereas with the staged homes I saw, I got that hefty shot of retail therapy that comes when you tour a house and picture yourself sitting on the couch, or dining out on the veranda. The staging gooses your imagination. You can picture your future life in such a place, making it all the more tantalizing. Left with an empty house to survey, you can’t engage the HGTV-addled lobe of your brain, and the thrill is lost.
“Believe me, buyers have no imagination,” Coy told me. “They really get wrapped around the concept of like, ‘Where is my bed going to be? Where is the TV?’ I’ve heard that all the time.” Sometimes I need to SEE that placement to know where the TV should go, and perhaps you do as well.
SFGATE columnist Drew Magary checks out an undercounter microwave at 2200 Lyon St., a house for sale in San Francisco on May 24, 2022. He is inspecting the state of the real estate market in San Francisco.
Douglas Zimmerman/SFGATE The good news
I dislike people who have a bleakness fetish, so let me end this little tour by telling you a few heartening things. The first is that, even though the Trump tax cuts made being a landlord in America considerably more profitable, rents here are down by about $400 a month versus their peak in 2015, Compass figures show. Also, the advent of 360-degree virtual tours on sites like Redfin has absolved you, and your feet, of endless days on the open house circuit. If you’re looking in Alameda County, you can still apply for AC Boost loan assistance, which is the real estate equivalent of a college basketball fan taking a 3-pointer during a halftime show for the chance to win free tuition. And condo prices in San Francisco are flat, especially compared to home prices, which only cool down long enough for you to miss your window of opportunity.
Finally, there is the upside of San Francisco itself. There is no better city in America to be f—ked in than this one. If you live here, you know that innately. If you don’t live here, and I do not, you’ll grasp it very quickly. This is the second-most densely populated city in America for a reason: because its citizens decided that San Francisco is worth any price, even if their apartment only has enough room for a f—king daybed.
And the places that are nice here are VERY nice. Nice enough to motivate anyone to want them. My favorite was a triplex condo on 1160 Greenwich St. It had a parking spot. The master bedroom had its own balcony. Each view, from each level, was better than the last. There was a walk-in closet with strategically placed Hermes bags propped up inside. You got rights to a part of the roof and could build a pagoda there if you jolly well feel like it. It cost $3.6 million and, when I saw it, had been on the market for 60 days. It’s still there now. No one wants it. I have no idea why.