As 2022 comes to a close, PPAI Media looks back at a tremendous year in the promotional products industry, highlighting some of the promo’s most impactful news and trends. In the final entry of this four-part series, we share some of the biggest news stories that were published around the industry, from breaking news to the unveiling of anticipated awards.
Click through this year’s top industry news articles to see what stories PPAI Media published this year that made the biggest splashes.
In a shock to much of the industry, PPAI Media broke the news in August that supplier Tri-Mountain, (PPAI 134335, S11) was set to close.
- Tri-Mountain’s falling sales in recent years were considerable. It had regularly ranked as one of the industry’s larger suppliers in the latter half of the 2010s.
- “The closure is a bit of a shock to me,” said one Tri-Mountain employee with several years of experience. “Though, the writing was on the wall, so to speak. But I’m definitely hustling to find work.”
PPAI Media Special Report: The Great Resignation In Promotional Products
PPAI senior digital editor James Khattak spoke to people across the promotional products industry for an in-depth look at “The Great Resignation” in promo.
- People in all industries are reprioritizing things and in a hot job market are able to explore their options, so quitting isn’t as scary as it once seemed.
- “Over the two years of being grounded and working from home, it made me re-prioritize what was the most important to me,” says Jason Lucash, former chief development officer at HPG. “I wanted to spend more time at home with my family, take a break from working to reevaluate what I am passionate about and spend more time figuring out where I can make my next big impact.”
PPAI Pushing Back On Federal Independent Contractor Proposal
PPAI joined a roundtable discussion hosted by the U.S. Small Business Administration to discuss the Department of Labor’s proposed rule on independent contractor classification under the Fair Labor Standards Act.
- Members of the promotional products industry were encouraged to contact the Department of Labor and share their own accounts of how the DoL’s proposed rule would affect their business. Dec. 13 was the deadline to submit public comments.
- “Our industry is made up of thousands of small, proudly entrepreneurial businesses, many owned by historically disadvantaged groups,” says PPAI Board Chair Dawn Olds. “The proposed DoL changes ignore independent contractor precedence in place for well over 50 years.”
Two Major Announcements Kick Off The PPAI Expo
As last year’s PPAI Expo kicked off, the Association wasted no time making announcements that affected the whole industry.
- First, PPAI announced the first inaugural Promotional Products Work Expo, to be held virtually.
- PPAI president and CEO Dale Denham, MAS+, also announced the plans to create an open standard through its partnership with SAGE to simplify communications between distributors and suppliers. This initiative became what is now called PDX.
Over 80% Of Industry Compliance Pros Signal Interest In Moving Production From China
At the 2022 PPAI Product Responsibility Summit, promo companies explicitly signaled their willingness to shift their product sourcing away from China.
- With concerns over product responsibility issues and stability undermining trust in the country as a production hub, a real-time poll of the compliance professionals at Summit found 83% were looking to move production elsewhere.
- “For so long, China was the source for most of your materials,” said Isaac Stone, founder and CEO of Strategy Risk, a consultancy helping companies manage and reduce their risks doings business in China. “In the medium- and long-term, that’s likely to be a liability.”
More Popular Industry News Articles From 2022
PPAI Research: Benchmarking Supplier Credit Card Fees
Industry Reaction: Corporate Gifting Market May Be Much Larger Than Previously Known
HALO Announces Sales Leadership Promotions
Promo Leaders Weigh In On Possible Inflation Relief
All Systems Go: The Distributor Tech Arms Race
