PRESS RELEASES
2024 Counselor State of the Industry Report Charts Pathways to Sustainable Growth
Promo’s most authoritative report guides decision-making through economic challenges
“Despite formidable headwinds, the Counselor State of the Industry report identifies clear pathways to sustainable growth and profitability in a resilient U.S. economy” – Timothy M. Andrews, president and chief executive officer of ASI
The Advertising Specialty Institute® (ASI), the foremost technology, marketing and information provider in the $26.1 billion promotional products industry, has released its latest Counselor State of the Industry report, showcasing resilience and strategic foresight among distributors and suppliers.
In a year overshadowed by economic hurdles like sluggish sales, tightened client budgets and soaring logistics costs, the industry has embraced a spirit of “cautious optimism.”
“Despite formidable headwinds, the Counselor State of the Industry report identifies clear pathways to sustainable growth and profitability in a resilient U.S. economy,” said Timothy M. Andrews, ASI president and chief executive officer. “By leveraging the insights and strategies outlined in our annual data-backed report, the industry can continue to grow stronger together.”
The 2024 research report, compiled from extensive surveys of industry members across North America, delves into critical issues facing promo companies today. The report, available at stateoftheindustry.com, also features exclusive insights on market trends, pricing strategies and international sourcing patterns essential for navigating the evolving promotional landscape.
“This year’s State of the Industry serves as both a benchmarking tool and a strategic compass,” said report author Nate Kucsma, ASI senior executive director of research. “It equips businesses with indispensable data on emerging pressures like sustainability demands and labor market dynamics, essential for informed decision-making.”
Key insights from the 2024 Counselor State of the Industry include:
- Sourcing Direct: Distributors are increasingly sourcing direct from overseas, which suppliers see as a cause for concern.
- Demonstrating ROI: Anti-swag sentiment is on the rise, but distributors can combat it with strong messaging and demonstrating value.
- Hot Products: Drinkware sales are higher than ever, accounting for nearly 11% of total industry sales, or $2.8 billion, second only to T-shirts.
“At ASI, we’re committed to helping our members seize tomorrow’s opportunities,” said Editor-in-Chief C.J. Mittica. “Explore the stories, dig into the data and let us guide you toward a more promising future.”
Counselor produced its first State of the Industry in 1977 and for 47 years the report has stood as the most authoritative and comprehensive research report in the promotional products industry. For further insights, tune in to the Promo Insiders podcast with Kucsma and Mittica.
Michele Bell is senior vice president, content and global alliances. The State of the Industry was reported on by ASI Media editors Sara Lavenduski, Christopher Ruvo, Theresa Hegel and Brendan Menapace, with magazine design by Editorial Digital Art Director Hillary Glen and online design by Senior UI Designer Kathleen Fitzgerald.
For more information on the 2024 Counselor State of the Industry report or numerous other market research reports, contact Nate Kucsma at nkucsma@asicentral.com.
