In an exclusive interview, Mr Kuldeep Malhotra, Deputy Managing Director and Director (Board of Directors) at Konica Minolta Business Solutions India Pvt. Ltd. explains the after-effects of a pandemic on the Labelling industry and on Konica Minolta India subsidiary business.
Q) How did the pandemic impact the print industry in general?
Every sector was hit by the pandemic, but it was indeed challenging for print producers. Mainly print professionals depending predominantly on industries like travel, hospitality, wedding, and retail, faced significant blowback. On the flip side, people running short-run and label businesses witnessed remarkable growth. It was self-evident that the trying times of COVID-19 had literally twisted things upside down. The trend gradually transformed from large-run prints to short-run prints, and we at Konica Minolta decided to match pace with it. And, as you can see, it unquestionably paid back, so no regrets there.
Q) Did it also impact the demand for industrial printers and the short-run jobs?
The initial phase with lockdowns and sudden terror oozing through the nation negatively impacted the businesses, but things gradually started to come around. Later the industrial printing ecosystem started navigating towards slow but steady growth. This was mainly due to the fact that it began to support short-run businesses. And since these businesses saw exponential growth, the industry automatically grew with them, especially the label and packaging segment.
Q) How has the pandemic impacted Konica Minolta’s business?
The print business primarily depends on the business activities and 1:1 interactions amongst the people including physical events like weddings, travel, luxury packaging etc., which were brought to a grinding halt due to strict precautionary restrictions and travel bans. COVID-19 outbreak impacted every business line, and we were no exception. However, we could bounce back on track after a few initial setbacks on the back of digital adoption and immediate risk management steps. As the market and print industry started reviving, especially the label segment, new-age digital routes became our chief resource, and we decided to take a futuristic approach to sustain seamlessly in this game by continuing the same.
Q) How did KM adapt to the restrictions and uncertainty caused by the pandemic?
To help customer issues that required physical visitation in addition to the online assistance, we needed some out-of-the-box thinking. Since usual transportation mediums were suspended or put on hold, some of our customers managed to get government approval for essential services. These certifications helped us immensely deliver spare parts and similar vital items to the customers from our warehouses.
Apart from the aforementioned steps, we also launched a few digital marketing initiatives. The core idea was to spread awareness about modern-age technology developments and applications that the business has adapted during the COVID-19 period. For example, we started hosting customer webinars to give a live demo on our new products and installations. Simultaneously, we also enhanced our mobile app functionality to make it convenient for customers to log a service request.
Q) Do you see any lasting changes in the way you work because of experience gained during the COVID-19 pandemic? (For example, remote installation, servicing, maintenance, and training)
Digital adoption was gradually occurring even before the pandemic, but the COVID-19 outbreak definitely accelerated the process. In fact, COVID-19 precautionary guidelines forced our hands to make the digital medium the Alpha mode for sales, services, business development, financial transactions, and similar segments to ensure our businesses can run smoothly. But, as former Indian PM Morarji Desai once said, “It all depends upon how one adjusts oneself to life.”
We decided that online communication doesn’t have to be dull, boring, and one-sided. And, ultramodern applications like Zoom, Google Meet, and Microsoft Teams made it more accessible and far more interactive to connect with our customers and business partners. Furthermore, with social media platforms such as Facebook, LinkedIn, Twitter, Instagram, and WhatsApp at our fingertips, educating customers about the technological advancements happening at Konica Minolta was more manageable.
Q) What trends do you foresee for the print industry?
Even before the world came to a standstill and print businesses faced the ramifications of COVID-19, we were shifting towards the digital domain. During the pandemic, most print businesses revamped their methodologies and started operating on digital forums. A significant transformation was noticed in the print industry as long-run jobs were converted into short-runs. COVID-19 was like an unseen enemy. We didn’t know how long it was going to stay or if it could get worse. Therefore, it became crucial for business owners to test the waters and adopt new technologies and advancements to sustain themselves in this newfound world.
Q) Do you think technologies such as automation and Industry 4.0 pick up in the near future?
Of course, how else do you think the world will be able to go through the rapid digitization process in almost every industry? These advanced technologies and automation tools are omnipresent today, and we ride towards the future on their backs. These premium-grade tools will likely sync demand in the print sector with print production workflows like every other industry. At Konica Minolta, we are following the same approach. The idea is to develop various workflow configurations, creating a synergy between production and enterprise workflow, making the entire process seamless and smooth.
Q) In specific, how was the demand for KM’s label presses?
In 2020-21, we recorded a good growth in our label printing machines. In fact, the looming COVID-19 became a prime factor behind the sudden and significant boost in the print volumes happening on the digital label machines. We have now more customers interested in Digital Labels then before.
Q) And, while the signage and the commercial print market saw a drop overall, did the company see demand for KM’s production printers?
The initial few months, especially the period between April to June last year, were a bit slow. Not only for us but for every business out there. But, after the initial halt, things slowly but surely started to get back on track. Nevertheless, this slow growth was not as much as the pre-COVID period, but we weren’t complaining after facing a grinding setback. It took some time for us and customers to get used to the digital methodologies, and once it was there, everything started running smoothly. All this time, our customers were the biggest support system. They never faltered and continued to give us strength. It was only possible due to years of commitment and loyalty Konica Minolta has shown to the customers that returned tenfold to us at the time of crisis.
Q)How has the experience for you been personally?
COVID-19 taught us many things, we learned them grudgingly, but this experience is instrumental in making us who we are today. Today, I feel immensely satisfied with the way we have dealt with adversities within the organization. Overcoming the initial fear, ensuring the highest levels of health and hygiene measures, maintaining quality while embracing digital transformation, and identifying creative solutions for every hurdle, we have all come a long way. The goal was to keep serving our customers with similar tenacity, and I believe we achieved that.
Q) What is your takeaway from the experience of a pandemic?
This unprecedented pandemic brought drastic changes in our personal, social, and professional lives. On the flip side, it also taught us not to become complacent when things are going good, because the wheel of time turns, and you never know what problems and challenges the next day will bring. The initial phase was difficult, but with time we had to bring in the technological transformation to keep the business running and emerging over and above these difficulties. The most significant takeaway is to be prepared for all trials. People should always be on their toes to evolve, learn and avail new opportunities to elevate their current skills and knowledge.
Q) Were you able to take some time for yourself during this time?
Initially, it was testing to adapt to these changes at such a fast pace. I think no one thought this would last for so long, but it did. Then, as reality started dawning on me, I realized that time management and self-discipline are paramount to keep myself up and about. It helped me concentrate on the essential aspects of life, focus on being more productive professionally and personally, and spend time with myself, my family, and close friends.
Q) Any comments for the larger print industry?
In the history of humankind, COVID-19 will remain alive as one of the deadliest outbreaks in the 21st century. The pandemic brought many changes, some temporary and some permanent. And the vast contribution of digital technology comes in the latter category. Furthermore, it also reminded us that agility is a vital factor to keep a business floating during uncertain times. Businesses need to continue evolving and discover creative ways of communication.
The world we live in today has an enormous appetite for panache communication methodologies, and the existing print channels aren’t going to cut it in the future. Print industry professionals need to revamp and modernize their printers to comprehend document life easily. The output needs to be relatable but unique to keep customers engaged and at the forefront of the rapidly changing business dynamics.
