How can something so good also be so bad? It’s an oxymoron that perfectly describes the state of the promotional products industry.
Consider all there is to be optimistic about right now. Rising sales. Events back in full force. Leisure travel back to pre-pandemic levels. Buyers opening up their budgets and being very eager to spend. Things are great … right?
Now look at all the challenges facing promo companies at the moment. Supply chain woes and lack of inventory. Massive shortages of workers. Intense inflation and cost pressures. Whispers of a forthcoming recession. And, sadly, global conflict. If 2019 was the summit, these are the hurdles that are preventing distributors and suppliers from climbing back to the top.
To be sure, it’s a complicated time. But impossible? Not exactly. Distributors and suppliers can do their best to navigate around these challenges and seize the opportunities that are available for the taking. Our annual State of the Industry coverage can help you get there. The accompanying articles offer ground-level insights from the promo companies that are meeting these challenges head on.
We also have our exclusive data showing an industry that’s stepping away from the pandemic lows and is very much in recovery mode. Use our product and market information, as well as dozens of other key data points, to get a read on where the promo industry is going.
How to describe the current situation? It’s optimism with a bracing dose of reality. Good things are still ahead, but it will likely take a bit of extra work to get there. Let’s make sure you reach your destination. – C.J. Mittica