What does the future hold?

See my recent comments posted in response to a PROMO 35 Group Guest Interview....

Again, this is just my opinion...


promo35: "What will 2010 be like?" with Dave Regan - Vice President of Vernon Company





1. Describe what 2010 will be like for our industry in one word.

Rebound


2. Will 2010 be up, down, about the same compared to 2009?

Up, up, and up!


3. Do you see major changes happening to our industry in 2010 and the next few years?

Not really…I know this probably sounds like I have my head in the sand but while I recognize that there will be lots of other things to be concerned with such as product safety issues and social media opportunities at the end of the day our industry relies on relationships! Salespeople, distributors and suppliers who are good at forming and strengthening relationships will be successful. Those that cannot develop and maintain solid relationships at all levels with suppliers, manufacturers, salespeople and customers will falter.


4. What is something good we have going for our industry moving forward?

Our best attribute is our people! To be more specific it is the resiliency of the people in this industry. For more than 100 years this industry has been successful. We have weathered the great depression, two world wars and several recessions. In the end it is the grass roots nature of our business that enables us to endure.


5. What is something not so good that might hurt us moving forward?

The one thing that is sure to create some heartaches in the weeks and months ahead involves restrictive and confusing government legislation. Issues like the pharmaceutical laws, the product safety and compliance guidelines and restrictions on purchases by doctors have created a flurry of different interpretations by everyone involved in the supply chain.

It is absolutely critical that everyone in the supply chain is committed to educating themselves and their staff to stay up to speed in all these areas. This includes manufacturers, suppliers, distributors, distributor salespeople and the end buyers. If our education efforts are not successful with any of these groups it is fair to say that the value proposition of promotional products will not be communicated properly.

My fear in looking down the road is that due to the extremely fragmented nature of industry, namely the fact that small distributors and suppliers number in the thousands, that we will not have a unified approach to these issues in general and the industry as a whole will be negatively impacted by the transgressions of a few who choose not to pay attention to the serious nature of some of these areas of concern. A good example of this is where someone chooses to promote and sell a product that is cheaper, but NOT safe. I think we all know what the damaging impact of that type of a decision can mean for the industry!