Just one year ago, the fears were real. In the first quarter of 2016, distributor sales grew by a paltry 1.4% – the smallest increase since 2009. Economic anxiety born from Brexit and an especially combative U.S. election made clients hesitant to spend. Some wondered: was a recession just around the corner?
Today, those fears – while not completely gone – have subsided. Promo product growth has stabilized, hovering around 3% over the last 12 months. And while the U.S. economy is still mired in ambiguity, distributors and suppliers have mostly found their footing.
Still, it’s fair to ask: what will the next step bring? In the midst of this recent uncertainty, it appears the promo industry has hit an inflection point. Data shows companies are serious about investing in technology, are better understanding customer buying habits and are offering more revenue-generating services to supplement campaigns.
In other words, while no doubt complicated, the future of the market is coming into focus. Certainly, challenging trends are apparent and obstacles exist, but the opportunities are significant – if you know where to look.
Let the 2017 Counselor State of the Industry report be your guide to navigating what’s here and what’s next. Get started by clicking on the trends below.