Sales Continue, Even as Recession Fears Rise
Promo has proven to be resilient in the current climate. Many distributors are remaining positive and see no reason to fear as sales continue to climb. There will, of course, be challenges but even with inflation at a 9.1% increase, clients are still spending as usual. Activations are getting back to normal for the first time in two years and Merch helps to drive business. The industry is projecting a very busy Holiday season.
As many of you know, inventory across all markets is something out of a horror story. However, while we won’t return to ‘normal’ as soon as we would like, we may see something close to what we are used to. With this, we are urging clients to order early in order to secure inventory for Q4 promotions.
“I don’t think inventory issues will be all cleared up this year, but hopefully after Chinese New Year we get back to something approaching normal.”