Spending on promotional products fell for the second year in a row in 2002, according to an annual industry study released this week by Promotional Products Association International.
Estimated sales volume fell 5.59% to $15.6 billion. PPAI attributed the drop to fewer companies spending due to mergers, a reduction in the number of distributors and the plain old bad economy.
In 2001, the promotional products industry experienced its first spending slump in 40 years. The PPAI survey is drawn from a sample of 15,661 distributors, split between companies with sales of more than $2.5 million and sales of less than $2.5 million.
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