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Project 2021: Inventory Issues, Rising COVID Cases Cloud Success
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Top 40 Distributors Discuss Promo s Future
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Project 2021: Spring Brings Hope
This year, we’re following 10 promo companies – suppliers, distributors and decorators – to see how they meet the challenges of a post-COVID world. By ASI Media Staff
As the first quarter of 2021 wraps up, the 10 participants in ASI Media’s Project 2021 report varying levels of success – and an overall optimism for the rest of the year. Overall, in the promo industry, sales were down by nearly 15%, compared to the first quarter of 2020. However, most promo pros believe 2021 sales will surpass 2020 levels, and over 40% expect to beat their 2019 sales.
All year long, ASI Media has been tracking a cross-section of industry players across the United States and Canada – from one-person operations to Top 40 multinational firms. Each month, we check in to learn about their unique challenges and celebrate their hard-won successes. You can read the previous installment of the series here. And stay tuned for
‘PRO Act’ Could Impact Promo Industry
Industry executives are especially worried that the legislation would lead to labor cost increases and termination of independent contractors.
A new federal bill that would redefine what constitutes an independent contractor could have far-reaching effects on the promotional products industry.
The main thrust of the Protecting the Right to Organize Act (PRO Act) is to strengthen unions and encourage more workers to organize, which also poses potential implications for companies in the $20.7 billion promo industry.
Still, it’s language in the legislation related to independent contractors that has some industry leaders especially worried.
Introduced in the House of Representatives in early February, the PRO Act would largely wipe out independent contractor status under most scenarios and compel companies across industries in the United States to reclassify contractors as employees.