The findings of the PSI Industry Barometer 2017 has found that the promotional products industry is viewing the year with optimism.
Both distributors and suppliers expect sales to increase in the current business year. One in five promotional products suppliers and distributors stated in the survey that they expect an increase of more than 20%. A whopping 10% even forecast a plus of 50%.
That means last year’s growth continues. Among distributors and manufacturers alike, the countries with the strongest sales in 2016 included the Netherlands, France and Germany. More than 75% of Dutch suppliers said in the Industry Barometer they sold more than €10 million worth of products last year. In France and Germany, one in five manufacturers said they generated sales of more than €10 million.
Sustainability is a topic that’s steadily gaining in significance for the industry. More than 90% of surveyed companies say their assortments already include verifiably sustainable products. And 56% of suppliers and 41% of distributors consider sustainability an important or very important topic in the industry.
While commitment to sustainability is spreading across the industry, there is still a need for clarification regarding the CSR reporting mandate. Since the start of the year, major capital market-oriented companies are required to report standardised, measurable information about the social and environmental impact of their business practices. Only 18% of promotional products manufacturers and 12% of distributors feel sufficiently informed about this rule at this time. This shows that the Industry Barometer is a successful tool for the PSI Institute to assess the knowledge gap in the industry.
The next Industry Barometer will be published in January 2018.