USA – The US-American Promotional Products Association International (PPAI) has published a Special Report on the economic outlook of the promotional industry. The research found that economic uncertainty remains the biggest concern for promo companies. According to the PPAI, the respondents named inflation, high interest rates, and wavering threats of a recession as contributing factors.
The industry revenue grew by 1.5% in February and March compared to the same months in 2023. Although this is in line with the general growth of the U.S. economy this quarter, it is less than half the rate of inflation of 3.5% in March. Alok Bhat, PPAI’s market economist and research lead, concludes: “This modest growth, set against rising prices, calls for strategic agility and innovation to navigate economic headwinds and create pathways for sustained success.”
The full briefing on how to address the main concerns is available on PPAI’s website.
