41.8 F
New York
HomeIndustriesSwag Sales Increase To $26.1 Billion, Setting New Record

Swag Sales Increase To $26.1 Billion, Setting New Record

TREVOSE, Pa., Feb. 7, 2024 /PRNewswire/ — Distributor sales of promotional products reached new heights in 2023, with $26.1 billion in sales, according to the latest analysis from the Advertising Specialty Institute® (ASI), the leading technology, marketing and information provider in the promo industry.

Distributors demonstrated resilience with a 1.2% year-over-year sales boost, with the total annual tally  surpassing the industry’s previous record of $25.8 billion, first set in pre-COVID 2019. The growth rate moderated from 2022’s robust 11.4% and falls below the broader U.S. gross domestic product (GDP) growth of 2.5% in 2023. Despite the tempered pace, the promo industry maintains its upward trajectory, showcasing stability amid changing economic landscapes.