LONDON--(BUSINESS WIRE)--Nov 12, 2019--

SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Promotional Products Industry - Procurement Intelligence Report.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191112005689/en/

Global Promotional Products Industry Procurement Intelligence Report. (Graphic: Business Wire)

Buyers who have operations across regions typically undertake a multi-supplier approach for the procurement of promotional products. It has been observed that such a multi-supplier procurement approach will not only hinder spend visibility but may also lead to inconsistencies in product quality, which is likely to impact the brand value. This is one of the imposing challenges that will hurt the growth prospects in the promotional products industry to a significant extent. In response to this challenge, findings in this report suggest that buyers must rationalize their supplier base to reduce the need for a multi-supplier engagement approach and to avail greater discounts by rewarding the best performing supplier.

While you get to avail a 40% discount on this complete promotional products industry procurement intelligence report, why settle with just one? Get your complimentary access to our procurement platform to get daily insights into the price trends and procurement strategies that are being adopted by your competitors for a range of markets.

According to the forecasts, the promotional products industry is expected to witness a spend growth of over USD 3 billion accelerating at a CAGR of more than 2%. This increasing spend in the promotional products industry will be primarily attributed to the growing penchant of the emerging small firms towards promotional products that are perceived as one of the cost-effective ways to boost their brand visibility and increase their mass outreach.

What are the promotional products price trends that are driving the overall price structure in the global promotional products industry?

• Specialty promotional products mainly include t-shirts, purses, and bags that are customized to include the brand mentions by means of inkjet printing technology. Forecasts for an increase in the prices of the ink used for this technology will increase the price of procuring specialty promotional products.
• Factors like rising in inbound freight costs for imported products and possibilities of diesel prices hike will escalate the logistics costs incurred by suppliers. This, in turn, will have an inflationary impact on the cost of procuring in the promotional products industry.

Improving the sourcing and procurement process requires access to real-time insights. Request a free demo to access our ready-to-use procurement intelligence reports now!

What are the scopes of optimizing procurement spend in the promotional products industry?

Strategic supplier selection is the key to optimizing procurement spend in the promotional products industry. In view of this, this report has enlisted the key promotional products suppliers selection criteria, the leading supplier names, the SLA terms, among others that will aid buyers to make the most of their partnership and achieve cost-savings during the contract tenure with the suppliers.

Consolidate spend by engaging with suppliers who have a wide product portfolio

In the promotional products industry, buyers are advised to engage with suppliers that have a wide portfolio of promotional products such as wearables, traditional goods, and office equipment. This assists buyers in providing a wide variety of choices in terms of budgets and helps to spend consolidation. Procuring a large volume of different goods from a single supplier can help in shipment consolidation, which will improve delivery time and reduce shipping costs in the promotional products industry.

Online channels

Several online channels are available for the promotion of products such as e-mails, social media, and e-commerce. This makes it imperative for buyers to partner with promotional products suppliers who can assess the capabilities of these online channels that assist the former to target a larger audience to increase brand awareness and improve sales.

Saving costs form the podium of a successful business strategy and we will help you achieve the same NOW. Get a 40% discount on this complete procurement intelligence report or download the free sample of this promotional products industry procurement intelligence report.

Some of the key topics covered in this report are:

• Promotional products market spend segmentation by region
• Total cost of ownership analysis in the promotional products market
• Regional spend opportunity for promotional products suppliers
• Promotional products suppliers cost structure
• Promotional products suppliers selection criteria
• Promotional products suppliers under coverage
• Procurement best practices
• Category management objectives
• Cost saving opportunities in the promotional products market

You may also like the samples of the related reports below:

• Global Digital Signage Market - Procurement Intelligence Report
• Global Online Advertising Market - Procurement Market Intelligence Report

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005689/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: MARKETING COMMUNICATIONS

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/12/2019 12:03 PM/DISC: 11/12/2019 12:03 PM

http://www.businesswire.com/news/home/20191112005689/en