Sales of promotional products were strong in 2014, on pace once again to beat spending on mobile, radio and TV advertising. Revenues in the advertising specialty industry, which reached $20.5 billion in 2013, were up about 6% year-over-year in the first half of 2014, according to research by Stitches' parent company, the Advertising Specialty Institute.
Research firm eMarketer estimated that spending on mobile advertising on smartphones and tablets would hit nearly $18 billion in 2014, followed by newspapers at nearly $17 billion and radio at $15.5 billion. For 18 consecutive quarters, both suppliers and distributors of logoed or branded promotional products have reported increasingly bigger sales, a 5.1% increase for suppliers and 6.1% jump for distributors who sell promo products and logoed wearables in the second quarter of 2014, compared to the same quarter the previous year. Distributors remained bullish about the rest of the year, with two-thirds expecting an increase over 2013, according to ASI research.
“Low-cost, high-impact promotional products continue to attract major marketing dollars from businesses who want to spread the word about their brand, company or event because they allow even small companies to achieve as high an ROI as major corporations,” says Timothy M. Andrews, president and CEO of ASI. “Further, end-buyers consistently remember the advertisers on logoed items and feel good about the brands on promo products they use day in and day out. How many people say that about TV commercials or pop-up ads?”