Sales in the global promotional products industry in the fourth quarter of 2009 were 9.7% lower than sales in the same quarter of 2008, according to estimates from the Advertising Specialty Institute based on data from a survey conducted among its supplier and distributor members.
The group’s sales estimate for whole-year 2009 indicated that sales of all promotional products declined to $15.9 billion last year, down 19.5% from the previous year’s $19.8 billion mark.
While sales of promotional products fell consistently in 2009, the trade group found that the quarterly rate of decline also slowed throughout the year. The survey found that 34% of respondents saw a year-over-year increase in fourth-quarter sales– the largest percentage of members reported higher sales since Q3 2008, the ASI report said.
“The economic climate has been one of the most challenging in our lifetime,” ASI president and CEO Timothy Andrews said in a release. “However, I’m more bullish toward this year, and 71% of survey respondents told us that they believe sales will increase in 2010.”
The group’s full-year sales estimates were adjusted to allow for sellers that left the promotional products industry in 2009 and others that had not been part of the ASI trade association for 12 months.