Positive outlook for Promotional Merchandise
Last month we published a press release concerning the BPMA commissioned survey which carried out the first ever in-depth interviews with senior marketers. The findings provided a very positive outlook for the promotional merchandise industry. 49 per cent of senior marketers have increased spend on promotional merchandise since the last financial year and 83 per cent plan to increase or maintain spend from this year to next. These positive results are welcome news for the industry, especially after a tough few years of marketing budget cuts.
The survey also showed that the percentage of the marketing budget spent on promotional merchandise is increasing overall or remaining stable; with 43 per cent of respondents stating that it has increased and 36 per cent that it has stayed the same. This is proof positive that marketers are taking note of the value that promotional merchandise adds to their marketing campaigns.
We are seeing evidence of this on our Quick Quotes board with the number of quick quotes posted steadily increasing and the quantities and value of items required also on the rise. Click here view some of our recent Quick Quote requests.
Although we have seen some market growth over the past two and a half years the market is still approximately 15 per cent behind the market size of 2008. In 2009 the UK & Ireland promotional merchandise market suffered significant effects from the world economic downturn with a market reduction of over 26 per cent. Larger distributor companies have been reporting growth above the overall market trend. The number of distributors with a turnover above £1m increased from 121 to 129 last year, and many companies in this group have had growth of around 10% in 2011. Distributor companies over £1m have increased their market share from 40% to 47% over the past two years. With these larger distributors increasing their market share, smaller distributors have fallen by the wayside, with 69 distributor companies ceasing trading in 2011.
Although the news of an increase or stable marketing budget for promotional items is great news for the industry, smaller distributors may not feel the effects. It is more important than ever for companies to concentrate on winning market share.
This is where Promotional-Merchandise can help. With our supplier directory we can provide targeted leads based upon a company’s product range. With our Quick Quotes system companies can receive verified leads from promotional buyers direct to their inbox; we provide the only UK service which verifies leads by telephone. These services provide suppliers with ways to improve their online marketing and win market share by ensuring they receive more targeted leads. If you would like to know more contact Paul Sung on 0151 324 1707 or email email@example.com.
Lauren Cayless White,