There’s no doubt that the pen market is booming – and it’s not just for paper-pushing professionals! In fact, the market for tactical pens and pens for writing are both growing at a fast rate. In this article, we’re going to take a look at the top six brands in the pen market, and what you need to know about them.
How Big Is The Pen Market?
According to The NPD Group, the market for pens and related products was $14.7 billion in 2016. That’s a growth of 5.1% over the previous year! And while the market for pens specifically is growing, the overall market for writing instruments is actually shrinking (due to the rise of electronic devices). So, if you’re looking to get into the pen market – or just know more about it – keep reading!
How Big Is The Tactical Pen Market?
The tactical pen market is growing faster than the market for pens specifically, with a growth rate of 8.2%. This is likely due to the increased popularity of law enforcement and military personnel, who need pens that can handle a lot of abuse.
Parker Pens Reacted To Their Marketing Blunder
When Parker introduced their new retractable ballpoint pen in 2016, they made a big mistake. The pen was initially advertised as being able to write in both directions – something that it clearly wasn’t capable of. As a result, sales plummeted, and the company had to apologize profusely.
How Big Is The Tactical Pen Market?
The tactical pen market is a little bit smaller than the overall pen market, but it’s still growing rapidly. In 2016, this category was worth $1.9 billion. And while not all of that revenue comes from tactical pens specifically, this category is still very important for companies like Parker Pen Corporation and Sheaffer.
What Happened When Parker Pens Made A Marketing Mistake?
Back in 2008, Parker Pen Corporation came out with a new line of pens called “The Modern Classics”.
How Big Is The Tactical Pen Market?
The tactical pen market is even bigger! This market is made up of pens that are specifically made for law enforcement, military, and other security-related uses. It was worth $25.5 billion in 2016!
What To Know When Shopping For Pens
When you’re shopping for pens, don’t just focus on the price. Make sure to also consider the quality of the pen, the type of pen it is (ballpoint, fountain pen, etc.), and the brand.
Here are six of the top brands in the tactical pen market:
Sheaffer
Parker Pen Corporation
Bold Tendencies
How did Parker Pens respond To Their Marketing Blunder?
Parker Pens is well-known for its iconic ballpoint pens. However, their recent marketing campaign – which involved a ballpoint pen that would “transform” into a fountain pen – backfired. Many customers were unhappy with the change, and the company lost a lot of money as a result.
Conclusion
In this article, we’ve looked at the top six brands in the pen market, what you need to know about them, and how they are doing. What brands are you familiar with? Let us know in the comments!