Tipp-Ex thriving alongside technology
Retailers may be surprised to know that in this age of home and office technology, the correction products market remains extremely buoyant and is currently worth £11 million ($22 million) at retail value.
Recent TNS research, conducted by BIC, has revealed that 70.5 percent of those surveyed, who use correction products use Tipp-Ex correction fluid, making it the number one correction product, followed by Tipp-Ex Correction pen and Tipp-Ex correction tapes. GFK Market data supports this fact as Tipp-Ex remains the category favourite with over 50 percent market share of volume sales.
The most popular usage, accounting for 59 percent, is for correcting printed work followed by 27 percent for correcting children’s school work and 24 percent use it to amend their diary. It appears that correction products are equally as popular at home as they are in the office with 43 percent of those surveyed saying that they purchase correction products for home use only.
However, correction tape is becoming increasingly popular with younger consumers. The survey revealed that 47 percent of 16-24 year olds use the tape for writing, like white ink to mark items, as well as correcting work.
This trend towards usage of correction tape is supported by the market trends, as the correction tape segment is growing by 9 percent and now accounts for nearly 20 percent of all correction volume sales. Correction tapes offer more consumer benefits as they are quick and convenient to use and create less mess than the traditional correction bottle.
BIC has a broad range of correction tapes suitable for all usages, ranging from the ever popular Tipp-Ex Pocket Mouse to newer additions in the range such as Tipp-Ex Speedy and DeleteO. Both have rubber grips for extra control and are shaped for easy use.
BIC’s most recent introduction is Tipp-Ex Clic Liner which is refillable offering even better value for money. It is the first refillable correction tape from Tipp-Ex, keeping waste to a minimum. Perfect for office or home use, the pen format makes it easy to store and its retractable point protects it from getting damaged when not being used.
Emma Lawley, marketing manager at BIC said: "The correction product market continues to thrive alongside the increasing home and office dominance of technology. It is important for retailers and suppliers to offer a broad range of correction products and capitalise on the growth of Correction Tapes as they offer greater sales and margin opportunities.
"Category innovation such as the introduction of Tipp-Ex pens and tape is driving new younger consumers to purchase, whereas Tipp-Ex Correction Fluid remains a core element of older consumers stationery purchasing lists."
In 1997 the BIC Group purchased Tipp-Ex to make the brand truly multinational. Complementing its comprehensive range of stationery, it continues to launch numerous tapes and pens designed for different uses and users. The brand will continue to innovate and grow, as long as there are errors to correct.