As we already know the world has changed tremendously in the past two months. What was totally normal in the past is not normal any more. What used to be not normal is now normal. It seems that everything we used to do has now changed. It leaves us wondering if things will every be normal again. I feel for the younger generation as this will have a lasting impact on them. Hopefully some day they will be able to put the trauma behind them. The same can be said about the business environment. This corona virus, that originated in Wuhan China and then spread around the world, seems to have changed the way we do business. So many businesses have been shuttered and the question is whether they will ever be able to get back to normal. What will promotional products future be when this is all over?
The good thing is that the government, businesses and the people do want to go back to where we once were. It may not have been perfect but it was better than what we have now. Surely there are lessons that can be learned and new habit that can be retained, like cleanliness, but generally we yearn for the freedom we once had and we will have it again. The government has said that they we start to ease restriction soon and I believe them. There are cures and vaccines that are being worked on that will eventually help the situation. The population should also start developing mass immunity to this Wuhan virus. All of these things put together will help us going on.
The future of promotional products
So the question is where will promotional products be when this is all over? What will be the role for promotional products and customer merchandise? I think the answer to that is both simple and complex at the same time.
In the short term it will be slow for the events that use promotional products to come back online. Think of the concerts, the exhibitions and conferences that have been delayed due to the Wuhan corona virus. Think also of the slow down in the retail sector, segment of the economy that is accustomed to have POS promotions and other giveaways. All of these sectors combined will impact to the state of the promotional products industry in the next few month. Somethings like hand sanitiser and other personal care items with be in high demand, but hand sanitiser alone can’t make up for the decrease in demand for other promotional items.
In a year though things will be different.Scientists are hoping that there will be a vaccine in the next twelve months. A vaccine against the Wuhan corona virus will be a game changer. When that happens then this “plague” as Donald Trump likes to call it will be well and truly over. In the mean-time if a treatment can also be found then that too will contribute to some normalcy. At that point businesses in the economy will rearing to go. They will want to put this all behind them and push to getting their turnover to where is was and better. It is at this point that there will be a boom in the promotional products industry as companies start to re-engage their customer. That will truly be a great time to be in promotional products. It will be a great time to be alive!