PPAI Media is looking back on the year’s most impactful news and trends in a four-part series on the stories that shaped the branded merchandise industry over the past 12 months.
In the final entry, we share articles that covered supply chain disruptions, product safety concerns, a new force in the industry and changes at the Association. Of course, the unveiling of the 2024 PPAI 100 was also a big hit with members.
Click through this year’s top industry news articles to see what stories PPAI Media published this year that made the biggest splashes.
East Coast Port Strike Will Have ‘Catastrophic Effect’ If Agreement Isn’t Reached
On October 4, a historic three-day strike along the entire East Coast and Gulf ports of the United States ended with a collective sigh of relief by involved parties and just about every industry. The strike, while massive, was resolved in time for the supply chain to recover. It was celebrated as an example of the powers of collective bargaining.
Understandably overlooked by many casual onlookers was one big caveat: It was only a 100-day tentative deal, with the goal of hammering out a six-year deal within that time.
- While crucial agreements were made regarding wages, the short deal was reportedly a result of tabled disagreements over automation.
- With the 100-day deal expiring January 15, the two sides are reportedly no closer to a compromise on the issue.
Stanley Responds To Viral Lead Rumors
Social media fueled the Stanley Quencher’s rise in popularity, and, in January 2024, it began questioning the ubiquitous tumbler’s safety.
Many customers took to TikTok and X to share stories about using at-home tests to determine whether there’s lead in any of their Stanley products. Although they received mixed results, the drinkware company responded to viral concerns.
Lucash, Szymczak Unveil New Company, Promise To Disrupt Industry
At The PPAI Expo 2024, the biggest open secret in the promotional products industry was officially revealed: Jason Lucash and Mike Szymczak were back in business.
The promo veterans, who co-founded Origaudio and sold it to HPG in 2018, now run Rupt – the first supplier whose entire product line is made from recycled materials.
They also run Rupt Ventures, Rupt’s venture arm, and have made three strategic investments in the promo industry this year:
- St. Louis-based supplier Sweeter Cards – winner of The Pitch at The PPAI Expo 2024
- Austin, Texas-based supplier Desk Plants
- San Diego-based supplier Swanky Badger
PPAI Announces Membership Structure Changes, Industry Sales Update And More
To kick off The PPAI Expo 2024, PPAI’s 2023 Board Chair Kevin Walsh took the stage with opening remarks on the past year’s milestone accomplishments, the state of the industry and big changes ahead, including a complete rethinking of the Association’s membership structure.
With a focus on simplicity and aligning benefits and value, the new PPAI membership structure moves all member categories (Distributor, Supplier and Business Service) from a complex 16-tier structure into a straightforward five-tier structure with clear benefits and cost. The intent is to ensure fairness across the membership base by elevating benefits and value to match the investment at each tier.
Also teased at The PPAI Expo 2024, the 2023 Distributor Sales Volume Estimate shows that promo’s revenue topped $26 billion in 2023. While another milestone, it represents a net negative for the industry.
- The growth rate for 2023 was 2.24%, failing to outpace inflation, which has not dipped below 3% since March 2021 according to the Consumer Price Index report.
In May, the much-anticipated 2024 PPAI 100 was unveiled to the industry.
Now in its second year, PPAI 100 shines a spotlight on the branded merchandise firms that are pushing the industry forward. Promo’s leading companies move the needle. They’re the trailblazers that show what the industry is capable of.
Research-backed and statistically driven, PPAI 100 was developed to shed light on what makes promo’s most prominent companies so strong and identify the traits that produce industry leaders. More than just a measure of revenue – although that represents the largest factor in the scoring matrix – PPAI 100 rankings consolidate a range of eight factors to depict the true measure of a company.
More Trending Industry News Articles From 2024
HALO Hacked: Data Breach Impacts More Than 7,000 People
In Memoriam: Brian Haner, Founder & CEO Of Image Source
Unexpected Tragedy Claims Stephan Baere Of S&S Activewear
PPAI Sales Volume Estimate: A Record Year, But Few Celebrating
