How the Pandemic Will Change the Promotional Products Industry (Short Term and Long)
Given that states have begun to reopen their economies in phases, many businesses are pondering how they will resume their roles as reliable entities within their neighborhoods and niches. The COVID-19 pandemic has defined itself as the story of our lives, and there is not a single business owner who has not needed to revise their approach to establishing and growing relationships. The promotional products world thrives on those bonds, so the last few months have found its members working even harder to maintain positive outlooks, with everyone wondering what the coronavirus will do not only to partnerships but also to the perception of goods and services.
As we head toward the summer, industry professionals know that many variables exist, and that any given day could transform a bright spot into a perilous situation or turn a doom-and-gloom mindset into a more uplifting frame of reference. What, then, should expectations be for the state of business as the economy reopens? And what about further out—what will the promotional products industry look like after the pandemic?
In late April, Howard Headden, founder and executive vice president of sales and business development at H2 Enterprises Inc., Naperville, Ill., saw a post in an industry Facebook group that addressed a rebound timeline for industry sales. He commented on the post, noting that his 34 years in the business have bred many challenges that, while painful, did not spell a reduction in his or his peers’ vocational fortitude. This period, he believes, will prove likewise instructional and also not mark the end of the industry as we know it.