Opportunistic Time to Buy Advertising Gifts

Any time an industry is struggling, it can be a great time to buy products from those businesses for a number of reasons. First of all, you might be able to get a better deal, since they could be dropping prices to try to reel in some more business. Secondly, you’ll be helping to keep their businesses afloat, as they could be in danger of losing a lot of money. Thus, you have the possibility to conduct some win-win business, which is always nice.

Unfortunately, the promotional products industry, which makes advertising gifts, has been struggling mightily in recent months. The good news is that there’s a bit of a turn around, according to IBISWorld, which does market research. The bad news is that the long-term prognosis doesn’t look good right now.

While revenue is expected to increase about 4 percent, annual declines are expected in the neighborhood of 1 percent in coming years. That could lead to changes in business models, but for now it might mean the possibility of getting cheaper advertising gifts for your business while helping the industry buy some time.

Advertising gifts are often overlooked, but they are an effective method of reaching potential customers. Recall rates can be as high as 90 percent, according to research studies designed by the Promotional Products Association International.

A large percentage of the people who remember receiving promotional items also have a favorable memory of the company that gave them to them, so your business can get some long-lasting goodwill by giving out advertising gifts.

That’s the type of effectiveness that might make it worthwhile to stockpile some advertising gifts now, while the industry is sluggish and you might be able to save some of your budget for additional marketing avenues.