Strategy January 28, 2016
5 Hot Markets for 2016 - Slideshow
Accelerate your sales this year with the help of these insights into five red-hot markets for 2016.
Legal Marijuana: The grass is getting greener and greener in America’s legal pot industry. In 2014, the U.S. market for legalized cannabis grew as fast as a weed, increasing nearly 75% to $2.7 billion, according to The ArcView Group. The California-based cannabis research and investment company estimates that this year the market will stretch toward $4.5 billion in sales. Now is the time for ad specialty distributors to start targeting the legal marijuana trade with sought-after products like lighters, custom-printed T-shirts, embroidered sports caps, hemp bags and totes, water bottles, sunglasses, beanies, pill bottles and various products with pot-themed graphics, such as microfiber cleaning cloths.
Yoga: It’s not a stretch to say that the yoga industry is booming. A survey from the Sports & Fitness Industry Association found that more than 24 million U.S. adults practiced yoga in 2013, a 41% increase from 2008. The good news for distributors is that there are more 30,000 yoga studios in the U.S., meanings the chance of finding one in your area is good. Of course, the yoga market is about more than studios. Gyms, lifestyle brands that make yoga-related clothing and products, industry trade shows/conferences, nonprofits like the Yoga Alliance and media sources like the Yoga Journal (with its 3.5 million monthly print and online readers) are potential clients, too.
Event Planning: Rising employment, bigger budgets and greater demand make it clear that the event planning market is abuzz with vibrant life. The vitality is a boon for promotional product distributors. Why? Because event planners are in particular need of branded merchandise. More than 80% of consumers say that free samples and other giveaways motivate them to participate in an event. That’s far more than any other single motivating factor.
Trucking: Demand for the service that trucking companies provide is soaring at a time when firms are finding it increasingly difficult to hire and retain drivers. While the dearth of drivers is a concern for trucking companies, it’s an opportunity for distributors. To help combat churn and attract drivers, companies are offering higher salaries and bonuses. Distributors can bolster the retention effort by providing branded gifts for trucking businesses to give to welcome new drivers – and to consistently reward truckers for achieving goals and milestones.
Corporate Wellness Services: The corporate wellness services industry is in the bloom of health. Over the next five years, businesses in this niche will increase revenue 8.4% annually to $12.1 billion, according to a forecast from IBISWorld, a market research firm. Nonetheless, a consistent problem that companies face is getting employees to participate fully in wellness programs. Here, however, promotional products can be of assistance. Help wellness service providers establish programs in which their clients’ employees receive branded merchandise. These items can serve as rewards for taking part in wellness initiatives and for achieving health and fitness goals.