It’s human nature to expect that things will turn out for the better. Hopefulness is built into the way we live. It keeps us pushing forward, aspiring for more.
The promo industry is no different. Consider that distributors and suppliers just concluded a difficult 12-month stretch marked by slowing sales, tightened client spending and escalating shipping costs. No, it wasn’t the pandemic or the Great Recession, but it was far from easy.
And yet, what’s the phrase that gets mentioned the most by distributors and suppliers? “Cautious optimism.” The acknowledgement that things aren’t great now, but they should – and will – get better.
This year’s State of the Industry is designed to turn that optimism into reality. Through our reporting as well as our survey that was taken by hundreds of distributors and suppliers, we’re examining the challenges that promo companies are facing right now – among them buyer reluctance, anti-swag sentiments, worker wage hikes and profitability challenges. But we’re also highlighting the opportunities to circumvent those difficulties. Read the articles, dive into the stats, and let us help you speed ahead toward a brighter tomorrow.
International
Direct Result
Distributors are increasingly sourcing direct from overseas – a trend that suppliers see as a cause for concern.
Sales
The Hard Sell
Buyer apprehension is resulting in smaller, less frequent orders and a shift to more affordable products.
Markets
From Negative to Positive
‘Anti-swag’ sentiment has been on the rise, but distributors can combat it with strong messaging and demonstrating value.
Products
Going Back to the Well
Drinkware sales are higher than they’ve ever been, but have we reached the limit?
Labor
Pay to Stay
Businesses are more easily finding workers – but are having to hike wages to keep their ranks full.
Suppliers
Feeling the Squeeze
Suppliers are pursuing strategies to ease the strain on their profitability.
Supply Chain
Picking Up Speed
Sourcing chaos compelled end-buyers to order earlier and wait longer. But now, rush orders are back on the rise.
Sustainability
‘Data Is Really King’
Increasing client demands for eco certifications and information signals a new approach to ESG initiatives.
Distributor Snapshots
Big, Small and Everything In Between
They all sell promo products, but there are meaningful differences across the revenue classes.
Supplier Snapshots
Sizing Up the Davids and the Goliath
For each revenue class, our survey reveals their top challenges, competitors and other key metrics.
Predictions
Trend or Not?
We unpack six interesting findings from our survey and predict if these developments will continue.
#Counselor70
Data Through the Decades
While the goal – chronicling the state of the promo industry – has been the same for 47 years, the approach to data in Counselor’s signature issue has evolved greatly over time.