ASI Reports $25.8 Billion Swag Industry Roaring Back To Pre-Pandemic Levels

T-shirts' share of the promo marketplace soared to its highest number ever

TREVOSE, Pa., Sept. 6, 2023 /PRNewswire/ -- The most authoritative and comprehensive research report in the promotional products industry, the State of the Industry published by the Advertising Specialty Institute^® (ASI) shows average order values, distributor margins, client retention and number of error-free orders are fully recovered to pre-pandemic levels. Notably, total 2022 promo revenue matched 2019's figure of $25.8 billion.

"It's official: After a few hard-fought years, the promo industry is well on its way to becoming even bigger and better than ever," said Timothy M. Andrews, president and CEO of ASI, the leading technology, marketing and information provider in the promo products industry, with 25,000 distributor, supplier and decorator members in 53 countries.

The biggest brands in America use low-cost, high-impact promo products, aka swag (Stuff.We.All.Get). Items like pens, T-shirts, caps and coffee mugs are imprinted with logos or slogans and typically given away for free to promote and advertise a company, brand, team and event, or to thank employees and clients.

ASI's annual award-winning research report provides statistics covering nine pivotal business topics, including products, pricing, sales, markets and international sourcing trends. ASI collected data for its annual report through extensive surveys of ASI members across North America.

Highlights from the 2023 State of the Industry:

• New Industry Stars. T-shirts' share of the promo marketplace soared to its highest number ever, while drinkware's market share has increased 94% since 2008.
• Valuing Sustainability. Over half of surveyed distributors seek eco-friendly products, with sustainability a defining trend in promo.
• Show Me the Money. Distributors' average gross profit margin continues to improve after a sharp decline in 2020, reaching 36% in 2022 – the highest mark since 2019.
• Take a Hike. While 58% of suppliers increased sales, costs and eroding margins are forcing suppliers to hold or hike pricing.

"As our ongoing research clearly shows, the growth in the influence and prevalence of apparel over the last 10 years has been staggering," said Nate Kucsma, report author and ASI's senior executive director of research. "Promo isn't just following trends; in many cases, it's spearheading them."

About ASI

The Advertising Specialty Institute (ASI^®; asicentral.com) serves a network of 25,000 suppliers, distributors and decorators in the $25.8 billion promotional products industry.

SOURCE Advertising Specialty Institute