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Editor

Embellished

By Kyle Richardson

About Kyle

A look at the daily impact of promotional products.
 

Compliance Chat

Jeff Jacobs
It's Tested, Right?
Oct 31, 2014

Trust, but verify. Three simple words that form the best advice I can offer when talking about sourcing safe product...



Jeff's Rant

Jeff Solomon, MAS
Common Characteristics of Businesses That Thrive...
Oct 30, 2014

Lately, I have been thinking about businesses that have had a positive effect on my life. These businesses are thriving....



Be Bold, Be Different, Be Memorable

Rick Greene, MAS
Setting Annual Sales Goals are a Waste of Time II—Sales Goals Strike Back
Oct 29, 2014

For some people, setting sales goals is not a waste of time. It's all about perceptions, really—perceptions that empower and...



Selling Smarter

Rosalie Marcus
How Appreciative Are You? 5 Easy Ways to Stand Out and Say Thank You: Part Two
Oct 28, 2014

It’s the time of year when you may be thinking about gifts of appreciation to send to your clients. Rather...



Quick Thoughts by Cliff Quicksell, MAS

Cliff Quicksell, MAS
10 Tips for Creating Testimonials that are Compelling and Useful
Oct 27, 2014

One of the best ways to promote your business is with compelling end-user testimonials. Here are 10 tips for testimonials...



Guest Blogs

Guest Contributor
How Can a 3D Printer Make You Money?
Oct 24, 2014

One of the most difficult parts of getting the sale is showing the customer exactly what they want when they...



Kiwi's Coaching Corner

Paul  Kiewiet
The Smart Way to Grow Your Business
Oct 23, 2014

How do you step up and begin moving your business to better results? Well, first of all, you need to...



Editor's Notes

Nichole Stella
The Perfect Match
Mar 5, 2013

The Super Bowl has also become the Ad Bowl, where brands duke it out to see who has the funniest,...



Million Dollar Mindset with Greg Muzzillo

Greg Muzzillo
The Dash Between Two Dates
Oct 6, 2014

Let's face it. We're all busier than ever. Most of the busyness is dashing—dashing here, dashing there. Sadly, many people's lives...



Beyond Words

Rebecca Kollmann, MAS+
Going Direct
Oct 13, 2014

I thought that would capture your eyes today because it’s a perennial hot topic in our industry. Today, we’re going...



Not So Technically Speaking

Dale Denham
Yes, We Should Be Scared About Bad USB Drives
Oct 7, 2014

Due to recent USB exploits available online (although not yet proven to cause any damage), sales of USB drives in...



Promotional Fashionista

Colleen McKenna
5 Soccer Promotions for After the World Cup
Jul 1, 2014

Studies show that Americans prefer soccer to NASCAR. Here are five items to sell to soccer fans....



Mike's Blog

Michael Cornnell
Interview with Jason Black, CEO of Top Distributor Boundless Network
May 19, 2014

Ranking #19 on the Top 50 List, Black shares his thoughts on the future of the industry and what has...



The Hot Button

Mary Ellen Sokalski, MAS
"How It's Made" Can Make You More
Jun 11, 2014

The show "How Its Made" is celebrating its 22nd season on television. How can we be a hit, season after season,...



Be Dazzled

Elise Hacking Carr
Got Control Issues?
May 14, 2014

Does chaos define you? How you respond to certain situations says a lot about your character. Here are five quotes...



Big Picture Promo

Matt Kaspari, CAS
Meeting Clients Where They Are
Oct 24, 2013

Promotional marketing is at its best when it empowers a client’s brand, meets his or her objectives and fits within...



My Two Cents

Rick Brenner
For Promotional Product Sales, Protect Your Client's Brand
Jun 3, 2013

Whether you are selling to a global brand like Nike or to your local YMCA, no single asset is more...



Friday Sales-thought of the Week!

Dale Limes, MAS
Reverse Engineer Your Sales Success
Mar 18, 2013

Steven Covey reminds us that when setting goals ... "Start with the end in mind." That is to visualize the...



The Sales Challenge

Bill Farquharson
Think and Succeed
May 29, 2012

What would happen if you woke up in the morning and your first thought was, "I am never going to...



Creating More Purposeful Sales Conversations

Lisa Leitch, CSP, MAS
Under 100 Days to Achieve 2011 Goals
Oct 20, 2011

It's hard to believe, but there are fewer than 100 days left to achieve 2011 goals! Are you on track...



The Fastest Growing and Dying Industries in America, 2012 Edition

 

In May 2011 we took a look at the 10 fastest growing and dying industries in the United States, according to data compiled by market researcher IBISWorld. In April of this year the company published new findings that are worth reviewing.

Like last year, IBISWorld looked at the change in revenue over a 10-year period (2002-2012) and then projected trends out five years to 2017. IBISWorld did not provide the figures for the 2002 to 2012 period in this year's report, so for the purposes of the lists below, I've ranked the industries by projected change in revenue from 2012 to 2017. (Click here for IBISWorld's report on the fastest growing industries, or here for the report on the fastest dying, both PDFs.)

The 10 fastest growing industries in America are:

  1. Green & Sustainable Building Construction: 179.3% increase ($103 billion to $287.9 billion)
  2. Social Network Game Development: 170.7% increase ($4.5 billion to $12.3 billion)
  3. 3-D Printing Manufacturing: 92.2% increase ($1.7 billion to $3.3 billion)
  4. Self-tanning Product Manufacturing: 65.9% increase $609.3 million to $1 billion)
  5. Online Eyeglasses & Contact Lens Sales: 52.5% increase ($347.7 million to $530.3 million)
  6. Solar Panel Manufacturing: 48.1% increase ($4.6 billion to $6.8 billion)
  7. Generic Pharmaceutical Manufacturing: 37.7% increase ($52.8 billion to $72.7 billion)
  8. Pilates & Yoga Studios: 26.1% increase ($6.9 billion to $8.6 billion)
  9. Hot Sauce Production: 22.4% increase ($1 billion to $1.3 billion)
  10. For-profit Universities: 19.3% increase ($27 billion to $32.2 billion)

And the 10 fastest dying industries in America are:

  1. DVD, Game & Video Rental: 52.5% decrease ($5.9 billion to $2.8 billion)
  2. Photofinishing: 40.6% decrease ($1.5 billion to $897.1 million)
  3. Recordable Media Manufacturing: 20.1% decrease ($4.1 billion to $3.3 billion)
  4. Newspaper Publishing: 19.1% decrease ($29.3 billion to $23.7 billion)
  5. Hardware Manufacturing: 11.3% decrease ($7.5 billion to $6.6 billion)
  6. Costume & Team Uniform Manufacturing: 9.8% decrease ($986.7 million to $889.6 million)
  7. Shoe & Footwear Manufacturing: 8.7% decrease ($1.7 billion to $1.5 billion)
  8. Appliance Repair: 5.6% decrease ($3.7 billion to $3.5 billion)
  9. Money Market & Other Banking: 4.2% decrease ($834.4 million to $799.3 million)
  10. Women's & Girls' Apparel Manufacturing: 3.8% decrease ($8.6 billion to $8.3 billion)

Compared with last year's lists, we find some interesting trends. When it comes to the most rapidly advancing industries, almost every single sector from 2011 is missing from the list. There are some correlated industries (2011 had solar power generation and generic video game development), but otherwise, every industry that was projected to grow in 2011 didn't make the top 10 this year. Whether that's a fault of the economy behind the businesses or the economists behind IBISWorld is anybody's guess.

The other important trend to note in the growth list is the number of consumer-driven industries: pilates, self-tanning, hot sauce, online eyeglass stores and (arguably) for-profit universities are all supported directly by buyers, and one could say the same thing for social network game development as well. Compare that with 2011, which was almost entirely service and manufacturing driven (video games being the only tangible product), and you could make the claim that consumers are feeling more confident and that the economy is stabilizing or improving.

When the faltering industries come into play, we see a lot more retention. Newspaper publishing, video and game rentals, and photofinishing all reappear in 2012—the industries that were struggling the most last year have not found their footing and may truly be on their way out. And once again, apparel manufacturing takes up a significant chunk of the list with three slots. In 2011 the dying industries were textile mills, apparel manufacturers and formal/costume rental; this year we have costume and team uniform manufacturing, footwear manufacturing, and women's and girl's apparel. I refuted this in my blog last year, claiming that apparel sales were improving and citing earnings reports from a number of industry companies including Ennis, Broder, Delta and Hanesbrands.

That was last year. Since then, across the board, almost every apparel manufacturer has reported decreased revenue for 2011 due to the massive spike in cotton prices, and Hanesbrands announced intentions to shutter its private label business. Does that indicate that the U.S. apparel industry is dying? I don't think so. While revenue was down for most apparel manufacturers, sales generally remained flat or increased (Broder was up 5 percent, Delta was up 14.5 percent) heading into the new year. As manufacturers work through the remainder of their cotton stores purchased at peak prices, they'll see revenues increase to match sales. What's more, the percentage decrease for the "dying" apparel industries is lower than in 2011 (except for costume and team, which is the same 9%), leading me to believe the market's contraction is slowing rather than growing.

What can we take away from the list? 3-D printing, which we've discussed before, is going to be huge; people are really concerned with looking like Jersey Shore cast members; Netflix had better improve their streaming selection because it doesn't have Game of Thrones yet and come on I mean really; and we should all invest in Hot Sauce Harry's.

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