Branded Products: A Growing Industry
According to IBISWorld, which publishes market research, the U.S. branded products industry is estimated at more than $20 billion. This is due in large part to the desire for businesses and industries to extend the reach of their brand, be it through custom embroidery, promotional products, personalized gifts, and other marketing strategies.
Since the need for companies to spread the word is an ongoing one, this industry can count on repeat business going forward.
Branded, promotional products have a far greater reach and impact than most people might think. Consider the following facts:
Businesses Seeking Promotional Items
Virtually every type of business in existence can benefit from extending its brand. By placing the company name, logo, and contact information on a promotional item, businesses can reach further with their advertising and enjoy a positive ROI. Promotional product companies can benefit from relationships with:
E-commerce is a trillion-dollar industry that’s growing at a double-digit rate every year. It only makes sense that a promotional product company should capitalize on that market.
Statistics show companies that offer an online option enjoy 7% higher sales than companies that don’t. Fortunately, branded product companies are able to establish an online presence that allows customers to shop completely online without ever having to set foot in a brick-and-mortar store.
Technology is changing the promotional products game. In the past, there were limits to the types of products you could brand. Now, with the advent of affordable 3-D printing, promotional products are only limited by the customer’s imagination.
Advances in screen printing and embroidery techniques have also resulted in a wider array of clothing options. There has never been a better time to enter the branded products and marketing services business, and things will only get better and easier.