Business plan nning
CHANGING THE CONVERSATION Knowing what do end users want from merchandise can be game changing, so why don’t we ask them?
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s the UK and other markets start to get back to ‘normal’, PM is receiving reports on the strong forecast for 2022 and the upward trajectory for orders in the industry. So how has the market changed in the last two years and what should the industry expect in the next 12 months? Indicating a need for a change in the conversation, PM explores the trends and influences impacting the market and importantly, how the industry can stay a step ahead. PM has been looking into the spend trends affecting the industry, what is driving spend and behaviours plus
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the challenges with trust and how we are best placed to address this with promotional merchandise. In our report (p12) about the wider industry, ad spend the UK indicates an incredibly strong investment planned for UK advertisers. This shows confidence which historically triggers spending in other business sectors. With major advertisers set to spend £32.2bn, this shows a rise of 8.5% on 2021 spend. These are big numbers and demonstrate companies are looking to regain share of voice in markets. A recent Sourcing City Purple Club
MARCH/APRIL 2022
report (February 2022), indicated the pattern of the pandemic unfolded, showing the peaks and troughs as the UK went in and out of lock downs during the period. With an expected dip in late 2021 with the rise of the Omicron Covid variant, the industry saw a fast recovery by the end of January as public confidence started to rise with the easing of restrictions. Demonstrating just how fragile the recovery process has been, the current value of the industry was tentatively cited as £800m versus the previous value of £1.1-1.5bn. The positive outlook for the year
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