Solid Industry Recovery Underway

First quarter enquiry figures from Sourcing City are indicating that there is a sustained recovery at present in the promotional merchandise industry.

In March 2020, immediately following the first Covid Lockdown the industry activity ‘fell off a cliff’. That year average monthly enquiries fell to 35% of the previous year’s level.

Slowly activity improved, and in 2021 enquiries were approaching 50% of much better times.

The past three months have again seen a growth in enquiries, getting close to 70% of the peak 2020 monthly average.

This trend gives reason for optimism and distributors and suppliers report that these figures are reflecting their personal experience.

However… significant risks still face our industry with; inflation, skyrocketing fuel costs, rising transport costs, exporting difficulties and the horrific war in Ukraine. It remains to be seen what full impact these risks will have on the industry, but for now the figures are good news.