ASI/Counselor State of the Industry Report Breakdown

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We welcome back Theresa Hegel, Editor for Counselor/ASI Media. Theresa will provide valuable insights into the industry landscape through a discussion of the ASI/Counselor State of the Industry report. Gain a comprehensive understanding of the current trends shaping the decorated apparel and promotional products industry and explore its journey from the challenges of the past to the opportunities of the present. Discover the fascinating details behind the industry’s recent experiences, rebound, and recovery, and get ready to navigate the future with informed strategies. We are excited to welcome be back taking a deep dive into the State of the Industry report’s statistics and strategies that can empower and enhance your business decisions.

News

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State of the Industry

Erich: Theresa, you’ve been on the show several times but for our new listeners, tell us a little about yourself and how you found your way into the industry.

Terry: Tell us about the 2023 State of the Industry Survey and how it’s compiled. We have many listeners who are in the promotional/branded marketplace, plus I’m sure this information is translatable to straight garment decorators as well.

Erich: Lots of information here, and we (for the most part) only have a 1 hour show. Let’s pick out some of the categories that you can share with our listeners. How about starting with the health of the industry after the pandemic we shall not speak of?

Industry is back: promo sales in 2022 matched 2019 numbers: $25.8 billion

Terry: A category that caught my eye, because I talk to new decorators all the time, is Order Values and Pricing. What have you learned on that subject?

Order Values/Pricing: Average gross profit margins for distributors reached 36% in 2022, second year in a row that they increased (highest increase since 2019) – but many suppliers have had to hike prices (due to higher labor rates, increased cost of raw materials, etc.) so that could cut into margins for distributors.

Erich: Let’s talk trends. What does the survey tell us people are buying?

T-shirts are still number 1; drinkware is hot; PPE sales way down; and flags and banners are up (thanks to return of events and trade shows)

Terry: So we’ve discussed what people are buying, but who are the buyers?

Top markets: Education is the #1 market for promo for the eight time in nine years (in 2020 healthcare took the top spot for obvious reasons).

Erich: We all remember pictures of cargo ships lined up and waiting to unload not so long ago. Share what you found about the Supply Chain.

Supply chain issues related to the pandemic are largely over – but it’s worth having failsafe and backups in case new inventory shortages or snags happen down the line.

Terry: Probably the most common term you hear today, that most of us rarely heard just a few years ago. Let’s talk Sustainability.

58% of distributors prefer to purchase products that are environmentally friendly and 53% prefer products that are socially responsible.

Erich: I know you report on the industry rather than decorate garments, but we ask all our guests to share one piece of advice to our industry listeners. Have a nugget of truth to share?

Terry: How can our listeners find you?

The Secret Sauce

We serve up bite-sized tips for our #regulators to instantly spice up their decorated apparel business. Just like the perfect wing sauce, these quick tips can transform your business experience, adding flavor and depth to your operations. Each video in this playlist is a nugget of wisdom, carefully selected for its potential to bring immediate value to your work. So, whether you’re a seasoned pro or just getting started in the decorated apparel industry, dip into our ‘Secret Sauce’ for insights that can help you soar. Remember, the right tip at the right time can be just the secret ingredient you need for success.