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Viewing report
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Corporate Giftware Market Report
Key Note Publications Ltd, Jan 1997
The Chairman of the leading trade body, the British Promotional Merchandise Association (Bpma), refers to the promotional industry as `one of the fastest changing sectors in the business world', and it is undoubtedly true to say it is one that has undergone remarkable growth in recent years. From an industry which traditionally had a downmarket image, it has evolved into one of increased sophistication and specialisation, well aware of the importance of creativity, accurate targeting and better quality products.
The recession years of the early 1990s were, in part, responsible for the change in image and attitude as corporate gift givers and those involved in promotional merchandise recognised the need to move away from the previous practice of using mass and inferior `give-aways'. Emphasis is now put on quality to a much greater extent, with a marked tendency towards branded goods.
Two recent surveys report on the improved fortunes of the retail sector, predicting that the mini-boom will continue until 1999 and stating that profit margins of UK retailers are now the highest in Europe. As the UK economy continues its predicted growth, the promotions industry will benefit from an increased volume in sales whilst maintaining the advantages derived from recognising the necessity of using superior quality merchandise.
Key Note estimated the value of the corporate and promotional gift market at £840m in 1996, representing an increase of 8.4% on the figure of £775m for 1995. In turn, the figure for 1995 represented an increase of 4.4% on 1994's value of £742m.
The market is expected to continue to increase at approximately 4% per year to reach £1.04bn in 2001. The clothing, stationery and publishing sectors will see the largest percentage increases, while the jewellery, umbrellas and trophy sectors are not expected to grow at all.
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