The world of promotional products is moving at pace; if you’re currently in the throes of gifting season, you’ll know this better than most! The market was valued at an impressive $20.6 billion in 2022 and growing at a steady 0.7% annually, which is why the emergence of Brikl’s on-demand company stores and online stores is nothing short of revolutionary.
💡Tip: Need a way to set up holiday pop-up shops or find last-minute decorators to meet the rush? We’ve got you covered.
The Evolving Landscape of Promotional Products
The promotional products sector, expected to grow at a CAGR of 3% from 2020 to 2024, is more than just a market; it’s a dynamic ecosystem. The fact that 85% of people remember the advertiser from a promotional item underscores the sector’s power in branding and marketing. Furthermore, promotional products have been shown to boost sales by up to 15% and increase customer referrals by 22%, demonstrating their effectiveness as a marketing tool.
Promotional products are cherished in marketing for their practical utility and the emotional appeal of receiving a gift, which enhances brand visibility and recall. These tangible items integrate seamlessly into daily life, offering repeated exposure and fostering a positive association with the brand.
The ability to customize and personalize these items adds to their appeal, allowing brands to create unique, memorable connections with their audience. What’s more, the longevity and perceived value of promotional products, coupled with their variety, make them versatile tools that not only provide ongoing brand exposure but also leverage the power of social proof, enhancing the overall customer experience and fostering emotional connections with the brand. This multifaceted engagement makes promotional products a particularly effective and beloved marketing tool.
The Impact of On-Demand Production
On-demand and print-on-demand are reshaping production and distribution in this market. In 2020, 21.6% of marketers used online swag bags to engage attendees at virtual events, highlighting the growing trend towards personalized, demand-driven promotional strategies. In 2023, despite a slight decline in revenue at a CAGR of 0.9% over the past five years, the US market reached $20.8 billion, indicating a resilient and adapting industry.
Brikl's Unique Market Position
Brikl is at the forefront of this evolution, offering an end-to-end solution for on-demand company stores. This positions them uniquely in a market that has witnessed significant growth from 2017 to 2022. Their approach to on-demand production aligns with the industry’s growth trajectory, emphasizing waste minimization and sustainability.
How to set up a Brikl On-Demand Store
Here’s a general overview of how the process works, but we always recommend you talk to us so we can understand your objectives and walk you through the process in a live demo.
Step 1: Configuring the Dashboard
Step 2: Adding Products
Add products from the decorator network you’ve chosen. These products use special product codes separate from the blank suppliers. In the Supplier Dashboard, check the Supplier column for Fast Platform, FulFill Engine, or the Brikl Supplier Network for your supplier-decorator of choice.
Step 3: Assigning Products to a Microstore
Assign only one decorator per MicroStore.
Step 4: Payment Methods for On-Demand Stores
Initially, On-Demand orders will be paid in advance, typically using credit cards. Store credit and coupons can also be used as payment methods, provided any remaining balance after using store credit or coupons is paid for using a credit card. Note that pre-payment by credit card is the standard for On-Demand orders.
Step 5: Routing Orders
Once orders are placed, Brikl will wait until the payment is finalized and then send the order directly to the decorator network.
What brands are already using on-demand production and skyrocketing orders?
Brikl’s Role in Shaping the Future
Brikl is not just participating in the market; it is actively shaping the future of the promotional products industry. Their platform embodies the shift towards more agile, responsive, and customer-centric business models. This approach is crucial in a market where trends and consumer preferences evolve rapidly, and the ability to quickly adapt is a key competitive advantage.
In conclusion, the on-demand model, as exemplified by Brikl and other industry leaders, represents a paradigm shift in the promotional products industry. It’s a future where businesses are more aligned with the principles of efficiency, sustainability, and responsiveness to consumer needs – talk to us to find out more!