Home / Blog / Marketing & branding / A Review of the Year - 2023 and Promotional Product Marketing
25th January 2024 in Marketing & branding
As 2023 unwinds, the promotional product marketing industry in the United States has given us much to ponder. This year, businesses and promotional product companies have navigated through the evolving landscape, leveraging branded products to solidify customer loyalty, enhance brand recall, and express appreciation towards employees. With a global worth soaring over $85.5 billion and a resilient growth trajectory, let's dive into the year's insights, underpinned by pivotal statistics and trends.
Promotional items, from apparel to writing instruments, have played a crucial role in marketing strategies due to their tangible nature and personal touch. This year's statistics reveal compelling evidence about their impact:
The top categories for promotional products in 2023 highlight a diverse range of interests and utilities:
These categories underline the importance of practical and wearable items in creating lasting impressions.
Demographic Preferences in Promotional Products
An interesting aspect of promotional products is their appeal across different demographics:
With annual sales revenue reaching about $26.1 billion in 2023, the promotional products industry in the U.S. demonstrates growth. However, the environmental footprint is a concern, with 66% of promotional products discarded into landfills. This calls for a shift towards more sustainable practices within the industry.
Company swag continues to dominate with an 85% brand recall rate, showcasing its effectiveness over other promotional strategies. The demand for promotional products remains high, with nearly 8 out of 10 people desiring more.
The promotional products industry's future appears promising, with projected growth and an increasing focus on sustainability and digital integration. Companies and marketers are encouraged to consider the environmental impact of their promotional strategies and explore innovative, eco-friendly alternatives.
2023 has been a year of learning, growth, and adaptation for the promotional products industry. The statistics and trends observed underscore the undeniable value of promotional items in fostering brand loyalty, enhancing brand recall, and expressing appreciation. As we look to the future, the industry's potential for innovation and sustainability remains vast, promising exciting developments ahead.
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"Promotional Products Industry Research." PPAI
Navarro, J. G. "Promotional Products Industry Sales in the U.S. 2007-2023." Published March 14, 2024. Statista
"The Shared Secrets Lab - Giftafeeling Inc." Giftafeeling
"Promotional Products Market 2023-2030 Latest Research." LinkedIn
"Eppi Magazine." Werbeartikel Verlag
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