Home / Blog / Marketing & branding / Industry Guide: How Big is the Promotional Products Market?
7th April 2023 in Marketing & branding
Promotional products have long been a staple in the marketing industry, and for good reason. They are an effective way to increase brand awareness and create lasting impressions on potential customers. According to recent studies, 85% of people who receive promotional products remember the name of the brand that gave it to them, while 57% of people will keep a promotional item for five years or more.
The power of promotional products lies in their ability to stay with customers long after the initial interaction. Whether it's a pen with your logo on it or a warm hat, every time a customer uses your promotional item, they are reminded of your brand. This is why it's essential to choose high-quality promotional products that reflect the values and status of your company.
The promotional products market has continued to grow in recent years, with the industry valued at $18.5 billion in 2022. This represents a 3.5% annual growth rate, with no signs of slowing down. The COVID-19 pandemic has also had an impact on the industry, with many businesses turning to promotional products as a way to connect with customers in a socially distant world.
As we move into 2023, the outlook for the promotional products industry is positive. A recent survey found that 70% of businesses plan to use promotional products in their marketing strategies this year, up from 65% in 2022. The survey also found that the top three reasons businesses use promotional products are to increase brand awareness, improve customer loyalty, and generate leads.
In addition, the popularity of eco-friendly promotional products has continued to rise, with consumers becoming increasingly conscious of their environmental impact. Sustainable products such as reusable water bottles and tote bags made from recycled materials are a great way to showcase your brand while also promoting sustainability.
At EverythingBranded, we offer a vast array of promotional products to cater to all sectors and budgets. From custom pens, personalized caps to t-shirts and eco-friendly products, we have everything you need to create a lasting impression on your customers. As businesses continue to rebound and rebuild from the impact of the pandemic, promotional products are a smart and effective way to stand out from the crowd and increase your brand awareness.
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