STATE OF THE INDUSTRY: Your 2015 Forecast
P+P: Is sourcing overseas becoming less of a threat?
JS: Overseas sourcing for label products has not been a significant problem for us. The amount of person-to-person interaction required to produce a quality label that meets a customer's specific requirements is very difficult to achieve from an overseas vendor. Remember that most labels are a custom product that requires a fast turnaround and consistent quality. I can't think of one instance where we have lost an order to an overseas vendor.
P+P: Based on past trends, what are your expectations for the future of labels?
JS: The future is bright for companies in our industry. We believe constantly improving our production methods, making sure that we are financially healthy enough to make the proper investments in people and equipment, and always searching for ways to better meet our customers' unique challenges will allow us to continue to thrive in the very competitive label market for many years to come.
ON PROMOTIONAL PRODUCTS
The Participant: Paul Bellantone, CAE, president and CEO, Promotional Products Association International (PPAI), Irving, Texas
Print+Promo (P+P): What are your thoughts on the current state of the promotional products market?
Paul Bellantone (PB): Our industry and share of the overall advertising spend is healthy and continues to grow, and from what I've seen and heard so far this year, there is positivity in the promotional products industry and the economy in general.
We've experienced stable, consistent and measured growth in the industry—an average of 6 percent per year over the past six years—and this too boosts confidence among distributors, suppliers and promotional products buyers.
Because promotional products are one of the best media to generate engagement and build loyal relationships with customers and consumers—and we have the research to prove it—the industry is in a good position to generate ongoing growth in the foreseeable future.