TREVOSE, Pa., Sept. 3, 2024 /PRNewswire/ — The Advertising Specialty Institute® (ASI), the foremost technology, marketing and information provider in the $26.1 billion promotional products industry, today released its 2024 Counselor State of the Industry report. The comprehensive analysis highlights the resilience and forward-thinking strategies employed by industry distributors and suppliers to navigate economic challenges, including slow sales, tighter client budgets and rising logistics costs.
“ASI’s report identifies clear pathways to sustainable growth in a resilient U.S. economy,” said CEO Tim Andrews
Research from ASI’s State of the Industry report
“Despite formidable headwinds, the Counselor State of the Industry report identifies clear pathways to sustainable growth and profitability in a resilient U.S. economy,” said ASI President and CEO Timothy M. Andrews.
The 2024 research report, compiled from extensive surveys of industry members across North America, delves into critical issues facing promo companies today. The report, available at stateoftheindustry.com, also features exclusive insights on market trends, pricing strategies and international sourcing patterns essential for navigating the evolving promotional landscape.
Promo products – a.k.a. swag (Stuff.We.All.Get) – are items like T-shirts, water bottles, mugs and pens imprinted with logos to market a company, product, achievement or event, or to thank clients or employees, and typically given away for free. Promo products are used by the biggest brands in the U.S.
Key insights from the 2024 Counselor State of the Industry include:
Sourcing Direct: Distributors are increasingly sourcing direct from overseas, which suppliers see as a cause for concern.
Demonstrating ROI: Anti-swag sentiment is on the rise, but distributors can combat it with strong messaging and demonstrating value.
Hot Products: Drinkware sales are higher than ever, accounting for nearly 11% of total promotional products industry sales, or $2.8 billion, second only to T-shirts.
Counselor produced its first State of the Industry in 1977 and for 47 years the report has stood as the most authoritative and comprehensive research report in the promotional products industry.
About ASIThe Advertising Specialty Institute (ASI®; asicentral.com) serves a network of 25,000 suppliers, distributors and decorators in the $26.1 billion promotional products industry.
SOURCE Advertising Specialty Institute
