Industry Sales Growth To Accelerate In 2016, ITR Economics’ Q1 Report Reveals
In its first quarter 2016 PPAI Market Outlook Report, ITR Economics points to a stronger sales environment for suppliers and distributors in 2016’s second half and that both sides of the industry are showing signs of a sustainable rise in median growth rates in the near term. The first quarter report also introduces a new format incorporating members’ feedback to make it easier to review and to provide more value.
ITR says that supplier activity over the past 12 months is up 4.2 percent from the same period last year, and that industry suppliers should plan for accelerated growth in the second half of 2016 and into the third quarter of 2017. It expects 5.6 percent growth on the supplier side of the industry in 2016 and 6.5 percent in 2017.
The economic research and consulting firm notes that the eight percent median annual growth rate for distributors is nearly identical to the segment’s five-year average of 7.9 percent and has remained steady over the past five years. Distributors should see business from clients in industrial-based sectors pick up in third quarter 2016, and growth opportunities in consumer-facing markets.
ITR offers economic information, insight, analysis and proactive strategies, and, in collaboration with PPAI, the company produces data for the promotional products industry to help members improve their businesses. Its quarterly market outlook reports for the promotional product industry contain industry indicators, market analysis, advertising industry forecasts and a promotional products industry forecast. The first quarter Market Outlook Report is available here.