Strategy December 16, 2019
Three Promo Markets Ripe For Growth
Whether it’s a special event or an ever-present sector that’s getting even bigger, there are robust markets to target next year. Here are three of them.
1. Elections
Michael Wenger of Aurora, IL-based Quality Logo Products (asi/302967) says it starts with political promos, sparked by next year’s major election. “Have you seen or heard about a MAGA hat or Feel the Bern stickers? We all have. Promotional items work,” Wenger says. “Beyond the millions politicians spent, many more times over did other businesses spend trying to catch the wave. In a way, the MAGA hat and other items had a butterfly effect on the entire industry. All of a sudden, a hat became an instant sensation and unexpectedly reignited the world’s love for promotional products.”
2. Health & Wellness
Pam Stauffer, director of design for Top 40 supplier Gemline (asi/56070), says products that encourage physical health and mental wellness will continue to grow in demand. “As physical fitness has become a social norm, even the already health-conscious are looking beyond the gym to promote better mental health as part of a holistic wellness approach,” she says. “This includes products that facilitate stress-reducing experiences, such as getting out with your pets and journaling.”
3. Pets
Nearly 70% of U.S. households own pets, the American Pet Products Association reports, and pet parenthood is especially popular with the younger set. Seven in 10 millennials own a pet according to a TD Ameritrade survey, and apparently they’re so invested in their “fur babies” that they expect to spend the same amount or more on their cats and dogs as personal medical costs during their own adult lifetime. “So many brands are challenged about how to appeal to millennials and understanding their buying habits,” says Crissy Ocheltree, national sales manager of Illini (asi/62190). “Addressing their love of pets is an in with this group.”