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What does the future hold for promotional products?
I believe the future is bright for the promotional product industry for many reasons. But, like all markets in the Western world, we too have been affected by China's looming presence.
Promotional product companies, in order to survive, will continue to morph into creative agencies and not just providers of branded products. They will also need to utilise technology to assist their clients with the selection, purchase, stock management and fulfilment of promotional products.
I think the days of constantly cross quoting to get the cheapest price is on its way out. You can always get cheaper product, but will it last? Or will it run out of ink or shrink in the first washing, leaving a negative impression of your brand or company with the recipient.
If corporations did serious cost analysis as to the time and money they spend trying save twenty cents from a reliable supplier or the time wasted trying to import some of these promotions themselves, I think they would see that it costs far more than it saves.
Marketers need to ask themselves if promotional products are their core business. Or is it better to leave things to a professional who has spent years asking the right questions when choosing products and has the technical knowledge of printing, embroidery and engraving. For those marketers who choose not to, it is costing them far more than they think.
Ref: Interview APPA CEO by
Trudy Willis Reach:
71% of business travellers surveyed at an international airport recently reported having received a promotional product in the last 12 months.
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Moreover, 33.7% of this group had the item on their person. The item was promoting the givers logo repeatedly to the participant and their associates.
Recall:
76.1% of the respondents could recall the advertisers name on the product they have received in the last 12 months
In comparison, 80% of participants answered yes to reading a newspaper or magazine in the last week but only 53.5% of them could recall the name of a single advertiser.
Total Promotional Product Sales:
Sales in Australia : $1.56 Billion (an increase of 35% in the last 3 years)
Sales in New Zealand : $213 million (an increase of 30% in the last 3 years) |
