![]() Whitestone grew sales in verticals that included event planning, technology, financial services, retail, healthcare and beauty/cosmetics. Whitestone also has an ideal customer profile it aims to stay within that strategic focus helped the firm recruit and win the right kind of business. Whitestone Branding (asi/359741), a distributorship with roots in New York City and Austin, TX, had a dynamite year, increasing annual sales 83% relative to 2021.įounder Joseph Sommer says Whitestone was able to compete for and secure larger enterprise-level business/clients – one factor in the growth acceleration. Of course, as ASI Research’s data showed, it wasn’t just Top 40 firms powering impressive gains. “$600 million is a titanic figure within the industry,” says Brian Carothers, chief technology officer for Proforma. Meanwhile, Top 40 firm Proforma (asi/300094) had a record sales year, surpassing $600 million in revenue thanks, in part, to investments in marketing, technology and sales teams paying off. “This milestone is the result of a singular focus by every member of our team – creating breakthrough results for our clients with innovation, integrity, and collaboration,” says HALO CEO Marc Simon, a member of Counselor’s Power 50 list of promo’s most influential people. Top 40 distributors 4imprint (asi/197045) and HALO Branded Solutions (asi/356000) both posted annual sales records above $1 billion last year, marking the first time that the industry has billion-dollar distributorships as determined by Counselor’s annual Top 40 rankings. The industry’s smallest distributorships lagged behind with 2022 revenue growth of 4.7%.Įncouragingly, 2022 was replete with success stories. Growth was greatest with mid-size and large distributors, all of whom had revenue increases over 10% for the year. About six in 10 (63%) medium-sized distributors – those in the $250K to $1M range – increased sales. Half of small distributors ($250,000 and under in revenue) increased sales in 2022, and 71% of distributors with $1 million and up in sales did the same. These talented folks have helped us pave the way for new growth.”Īs with Wizard Creations, distributor success was widespread in 2022.Ībout 6-in-10 distributorships increased sales last year, with another 22% saying sales were steady. “Remote work was difficult at first,” Freeman continues, “but now we’ve really leaned into it and attracted incredible talent from both within and outside of our industry. “The biggest factor in our success was the continued diversification of our client’s needs in the wake of the pandemic,” says company President Luke Freeman, noting that the addition of talent helped, too. This video has key quick-hat stats and insights on distributors’ 2022 sales performance. Beyond traditional promo solutions, Wizard Creations fueled the sales ascent with franchise uniform business, large format printing installations, and specialty products geared toward the cannabis industry. The Florida-headquartered promo products distributorship increased full-year sales more than 30% compared to 2021, taking total revenue into the low eight-figure range. Like many distributors, Wizard Creations (asi/362568) owned 2022. “The sales increase that our industry experienced in 2022,” he continues, “was buoyed by increased demand due to the return of events and a sharp increase in prices.” Closing Strong on a Good Year Kucsma spearheads the distributor quarterly survey. “The recovery from 2020’s COVID-induced decline has been sharper than I believe most people expected,” says Nate Kucsma, ASI’s senior executive director of research & corporate marketing. ![]() Products cost more and distributors passed some of that along to end-clients, elevating revenue. ![]() In addition, 40-year-high inflation helped drive the topline sales number too. Events returned in earnest, businesses aggressively marketed themselves, and companies continued to use branded merch to help attract and retain workers in a tight employment market. Overcoming supply chain and inventory issues, distributors rose to the challenge to meet rampant demand for branded products.
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